Nickel Industries expands EV feedstock footprint with Indonesian HPAL joint venture
2026-06-29 10:37:36 [Print]
Nickel Industries has secured a 17.5% stake in the PT Teluk Metal Industry (TMI) High-Pressure Acid Leaching (HPAL) project in Indonesia through a $169 million investment.
The project, located within the Indonesia Morowali Industrial Park, represents an expansion of the Excelsior nickel/cobalt development. It is designed to produce mixed hydroxide precipitate (MHP), a critical intermediate product used in electric vehicle (EV) battery manufacturing.
Construction is currently underway, with commissioning slated to begin in mid-2027. Full nameplate capacity of approximately 38,640 tons of nickel per annum is expected to be achieved by September 2027.
The transaction is subject to a capital cost cap of $169 million. Nickel Industries' Sampala operation will serve as the exclusive ore supplier for the project. The partnership also includes Singapore-based Sumber International Investment, which holds a 10% stake, and a major consortium comprising LS MnM, Hanwa, and an unnamed strategic investor, which together control a 72.5% interest.
The project, located within the Indonesia Morowali Industrial Park, represents an expansion of the Excelsior nickel/cobalt development. It is designed to produce mixed hydroxide precipitate (MHP), a critical intermediate product used in electric vehicle (EV) battery manufacturing.
Construction is currently underway, with commissioning slated to begin in mid-2027. Full nameplate capacity of approximately 38,640 tons of nickel per annum is expected to be achieved by September 2027.
The transaction is subject to a capital cost cap of $169 million. Nickel Industries' Sampala operation will serve as the exclusive ore supplier for the project. The partnership also includes Singapore-based Sumber International Investment, which holds a 10% stake, and a major consortium comprising LS MnM, Hanwa, and an unnamed strategic investor, which together control a 72.5% interest.
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