Nickel Industries rebounds as Indonesia-focussed miner clarifies on royalties

Nickel Industries

11/03/2025 23:56

** Shares of Australia's Nickel Industries NIC.AX rise 5.8% to A$0.64; set for strongest trading session since September 12, 2024

** Stock rebounds after having lost nearly 20% in value on Tuesday on a major investor exiting the firm and worries over the Indonesian government considering raising royalties paid by mining companies

** NIC on Wednesday says it notes the Indonesian government's move and clarifies the company is subject to a 10% royalty on its nickel ore sales

** Says if the proposed royalty increases were legislated, the royalties paid would have increased by $8 mln in 2024 from its Hengjaya mine

** NIC operates a big portfolio of mining and downstream nickel processing assets in Indonesia

** Stock down 23.1% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))