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Nickel Mines Amends HNI Agreement for Indonesian Project

Mining News - Published on Tue, 10 Sep 2019

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The Directors of Nickel Mines Limited advised that the Company and Shanghai Decent Investment (Group) Co Limited, the Company’s partner in the Hengjaya Nickel Industry RKEF project, have agreed to amend two material terms in the Collaboration and Subscription Agreement of September 2017 that governs the contractual rights and obligations of each party with respect to HNI.
(i) Nickel Mines currently owns 60% of HNI and has agreed to limit its contractual option to further equity interest in HNI to not more than 80% (previously 100%)
(ii) the option period during which Nickel Mines can acquire further equity interest in HNI has been extended until 30 November 2020 (previously 31 January 2020).

These amendments align the terms of the HNI CSA with the contractual terms which govern the Company’s rights to acquire further equity interest in the Ranger Nickel Industry RKEF project.

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Posted By : Rabi Wangkhem on Tue, 10 Sep 2019
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