Business · Energy & Commodities · 2 hrs ago
Nickel Industries reports record ore sales and higher Q3 EBITDA
Nickel Industries reported stronger results for the September 2026 quarter, including record ore sales and higher adjusted earnings.
Its Hengjaya Mine sold 4.49 million wet metric tonnes, up 56% from the previous quarter.
Group adjusted EBITDA rose 4% to US$125.9 million, while attributable EBITDA reached US$102.4 million.
Severe El Niño-related dry conditions disrupted ore hauling and water supplies, limiting output at some operations.
The ENC high-pressure acid leach project began producing mixed hydroxide precipitate and cathode, but a full production ramp-up depends on returning rain and improved water availability.
The company expects those conditions in the December quarter and secured a US$245 million debt facility for ENC after the quarter ended.
Nickel Industries reported record Hengjaya Mine ore sales of 4.49 million wet metric tonnes for the September 2026 quarter.
Group Adjusted EBITDA rose 4% from the previous quarter to US$125.9 million.
Attributable EBITDA was US$102.4 million, up 3%.
Hengjaya Mine unit operating costs fell 15% to US$18.5 per wet metric tonne.
ENC HPAL reached first mixed hydroxide product and cathode production, with commissioning well advanced.
- Who
- Nickel Industries Ltd, an Australian-listed nickel company.
- What
- It reported record Hengjaya Mine ore sales and higher group Adjusted EBITDA for the September 2026 quarter.
- When
- The September 2026 quarter.
- Where
- Hengjaya Mine; the article does not state its location.
- Why
- Severe El Niño-driven dry conditions affected ore hauling and water supply at some operations. The article does not state a specific reason for the increase in EBITDA.
This story does not have two clearly opposing sides.
Nickel Industries recorded 4.49 million wet metric tonnes of Hengjaya Mine ore sales and group Adjusted EBITDA of US$125.9 million.
The company secured a US$245 million debt facility for ENC.
- Hengjaya Mine ore sales
- 4.49 million wmt
- Group Adjusted EBITDA
- US$125.9 million
- Attributable EBITDA
- US$102.4 million
- Hengjaya Mine unit operating costs
- US$18.5/wmt
- ENC debt facility
- US$245 million
What people are saying
The September quarter delivered another strong, consistent quarter of EBITDA with Adjusted EBITDA up 4% to US$125.9m and Attributable EBITDA of US$102.4m.
Once normal rainfall returns, the Company is very well positioned to further grow its EBITDA profile as it starts to recognise additional cashflow contribution from its ENC operations.