Nickel Industries Limited has produced its first nickel cathode at the Excelsior Nickel Cobalt integrated high-pressure acid leach and refinery project, shifting the operation from intermediate mixed hydroxide precipitate into finished metal within weeks of its maiden MHP production in July 2026.

The milestone follows the company's maiden MHP production in July and positions the ENC refinery—located within the Indonesia Morowali Industrial Park—to run on its own MHP as cathode feed, completing vertical integration from raw material to finished product.

Nickel Industries holds a 46% interest in the project, which has a design capacity to produce in excess of 72,000 tonnes of nickel metal per annum.

The operation is fed by limonite ore supplied from the company’s Hengjaya Mine and delivered via a 22km slurry pipeline. The mine supplied 1.4 million wet metric tonnes of nickel ore in July, keeping the company on track to meet its 14.3 million wet metric tonnes RKAB sales quota for 2026.

“First cathode takes Nickel Industries beyond intermediate products and into finished Class 1 nickel - the form of metal our customers in the aerospace industry ultimately require, in addition to being the most liquid product traded in the nickel market. Very few companies have built that capability in Indonesia. To have done it within weeks of first MHP speaks to the calibre of our team and our partners on the ground.”

“The next steps come quickly. ENC's refinery is already running on ENC's own MHP, and we expect first cobalt sulphate before the end of August. That will leave us with a single operation converting limonite from our Hengjaya Mine into finished cathode and sulphate products - a degree of integration that remains rare in our industry. The Hengjaya Mine also delivered a robust performance in July, with 1.4 million wmt of ore sales supporting ENC HPAL and RKEF operations, keeping us on track to meet our 14.3 million wmt RKAB quota for 2026.”

— Justin Werner, Managing Director

With production underway, data collection has commenced for London Metal Exchange brand registration. First cobalt sulphate production from the project is expected by the end of August 2026.

Read the full announcement: Maiden Nickel Cathode Production at ENC