Jakarta, Mining News – Amid a series of challenges confronting Indonesia’s nickel mining sector, positive news emerged at the start of 2026. Australia-based nickel mining firm Nickel Industries announced an agreement with South Korean material company Sphere Corp, where Sphere will participate in a nickel refinery project in Indonesia. Sphere will acquire a 10% stake in the Excelsior Nickel Cobalt (ENC) high-pressure acid leach (HPAL) project in Indonesia, with the agreed transaction value standing at US$2.4 billion. In its official statement, Nickel Industries explained that Sphere will purchase the stake from Hong Kong-based Decent Resource, while Nickel Industries retains a 44% ownership stake in the project.
The ENC HPAL project...
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