Nickel 28 Capital Corp. produced 8,234 tonnes of contained nickel in Mixed Hydroxide Precipitate during the second quarter of 2026 at its Ramu joint-venture operation in Papua New Guinea, compared to 8,564 tonnes in the same period last year.

Nickel sales for the three months ending June 30, 2026, reached 8,967 tonnes of contained nickel, rising from 7,846 tonnes in the prior-year period. Cobalt production rose to 811 tonnes of contained metal from 787 tonnes, while cobalt sales increased to 881 tonnes compared to 719 tonnes previously.

Ending nickel inventory on hand stood at 1,094 tonnes at quarter-end, down from 1,828 tonnes at March 31, 2026.

Production costs, net of by-product credits, increased to US$4.81 per pound of contained nickel produced during the quarter, compared to US$3.21 per pound in Q2 2025. For the first half of 2026, net production costs reached US$3.78 per pound against US$3.39 per pound in the corresponding period of the previous year. The higher operating costs primarily reflect elevated global prices for sulphur, which serves as the operation's main consumable.

The operational period included one of three scheduled annual high-pressure acid leach train maintenance shutdowns. The remaining two planned maintenance shutdowns were completed shortly after the quarter ended on June 30.

Nickel 28 expects the Ramu operation to achieve its full-year production guidance for calendar year 2026.

The financial and operational results remain preliminary and unaudited, pending the completion of local and corporate audits as well as the review of accounting procedures.

Read the full announcement: Nickel 28 Releases Ramu Q2 Operating Performance