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Nickel Industries (NIC) investor relations material

Nickel Industries Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Oct, 2025

Executive summary

  • Achieved a 12-month LTIFR of 0.00 with 18.5 million safe man hours and no lost time injuries; TRIFR at 0.92, reflecting strong safety performance.

  • Received multiple sustainability awards, including Gold for Biodiversity Management at ISRA and national recognition for innovation.

  • Delivered US $87m Adjusted EBITDA from operations in Q3 2025, up 1% from Q2, with strong RKEF and HPAL performance despite reduced mining sales in September.

  • Record mining sales in July and August, but September sales dropped due to RKAB quota limits.

Financial highlights

  • RKEF Adjusted EBITDA rose 20% quarter-over-quarter to US $40.5m, with a 5% reduction in cash costs and production up 2% to 31,148 tonnes.

  • HPAL attributable EBITDA increased 21% to US $13.1m, with production up 4% to 2,166 tonnes of nickel and 192 tonnes of cobalt.

  • Mining Adjusted EBITDA was US $32.8m, down 21% due to lower ore prices and higher operating costs; sales up 2% to a record 3.1M wmt.

  • Trading division EBITDA surged 343% to US $3.5m.

  • Group cash and cash equivalents at quarter-end were US $986.9m.

Outlook and guidance

  • Confident in imminent approval to increase annual RKAB quota from 9 million to 19 million wmtpa, supporting future mine sales growth.

  • ENC project integration and commissioning progressing, with full commissioning expected early 2026.

  • Sampala and Siduarsi projects advancing, with mine plans and feasibility studies underway.

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Frequently asked questions

Nickel Industries Limited is an Australian mining and resources company specializing in the production of nickel pig iron (NPI), a key component in stainless steel manufacturing. The company operates nickel mines and processing facilities primarily in Indonesia, leveraging the country’s rich nickel reserves. Nickel Industries focuses on supplying high-grade nickel products to the global stainless steel market, with a commitment to efficient and sustainable production methods. The company is headquartered in Sydney, Australia, and its shares are listed on the ASX.

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