Kelastambang: Nickel Industries Ltd has confirmed that construction of its 44%-owned Excelsior Nickel Cobalt (ENC) Project in Indonesia has reached a stage where commissioning activities can begin, aligning with the anticipated issuance of its industrial business licence (IUI) in the first quarter of 2026, according to a company statement released 23 July 2025.
The integrated high-pressure acid leach (HPAL) smelter and nickel refinery, which targets production of battery-grade nickel and cobalt sulphates, has seen the installation of all key process equipment, including three autoclaves. Mechanical installation is ongoing, with significant site integration progressing through the mounting of pipe racks and bridges for steam, power, and product transfers.
While initial plans considered early commissioning of cathode production, the company opted to delay activities to better manage working capital and avoid stockpiling product ahead of the IUI approval. This decision follows Nickel Industries’ historical practice of initiating commissioning prior to licensing but reflects a more capital-aligned approach for the ENC Project.
Infrastructure required for commissioning—such as the power distribution network, control room, warehouses, and packaging lines—is expected to be completed by the fourth quarter of 2025. The installation of crystalliser workshop equipment for nickel and cobalt sulphate production is also scheduled for the current quarter.
Managing Director Justin Werner stated, “We are pleased to provide an update on the continued strong construction progress at our ENC Project. Whilst early commissioning of the refinery could have commenced, we have decided to defer this process to better align working capital requirements with the anticipated receipt of the ENC Project IUI in Q1 2026. We remain focused on completion of the smelter and sulphate circuit in the coming months ahead of the commissioning of the fully integrated ENC Project towards the end of this year.”
The ENC Project is expected to deliver 72,000 tonnes of nickel metal per year, significantly expanding Nickel Industries’ product range beyond nickel pig iron and reinforcing its strategic pivot towards the electric vehicle battery supply chain