Nickel Industries (ASX:NIC) reported ore production in the first quarter of 5.6 million wet metric tonnes, falling 21% from the 7.2 million wet metric tonnes it reported in the fourth quarter of 2024, according to a Tuesday Australian bourse filing.
The company's ore sales rose 2% quarter-over-quarter to 2.8 million wet metric tonnes. Its adjusted earnings before interest, taxes, depreciation, and amortization fell by 15% over the same period to $31 million from $36.5 million.
The Indonesian Mines Department is reviewing an environmental study to support the ramp-up of the Hengjaya mine feasibility study to move to 19 million wet metric tonnes of nickel ore sales per annum from 9 million wet metric tonnes per annum.
Nickel Industries' shares rose nearly 6% in recent trading on Tuesday.
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