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Nickel Industries Faces Impact of Indonesia's Mining Policy Changes, Says Jefferies

MT Newswires Live01-19

Nickel Industries (ASX:NIC) is facing the impact of Indonesia's Work Plan and Budget approvals, which have confirmed a production target of 250 million to 260 million tonnes for 2026, down 31% to 34% compared to 2025, according to a Monday Jefferies note.

Jefferies added that the target remains above the 265 million tonnes of nickel ore realized production.

Nickel Industries' revision of its approved Work Plan and Budget for 2025 to 10.5 million tonnes, up from 9 million tonnes, was a modest positive outcome but fell short of the 19 million tonnes the company had hoped to secure for 2026 at this stage, the note added.

Jefferies kept a buy rating on Nickel Industries with a price target of AU$1.10.

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