Nickel Industries (NIC.ASX) just purchased large new nickel...

Nickel Industries (NIC.ASX) just purchased large new nickel laterite resources close to its operations in Indonesia and now have enough resources for the next 40 - 50 years. It seems they might be on the way to becoming the world's largest pure play nickel producer. They're right into the ESG side of things having built a new carbon neutral HPAL plant producing inexpensive MHP in addition to the electric smelter producing nickel matte, both are feed sources our refinery is designed to process. With that much feed they only need a battery precursor refinery in a low cost, high ESG standards environment to round off the business. Indonesian nickel isn't thought to be currently eligible for the IRA subsidies but perhaps NIC would be an exception to that rule being an Australian listed company with high ESG standards. Looks like they got a bargain with the new purchases as it works out to about $39/t of nickel equivalent apparently, much less than IGO paid for theirs.

Here's a link to their announcement on the 26th of August, there's about 11 comments on the thread which are worth reading IMO.

https://hotcopper.com.au/threads/ann-acquisition-of-world-class-nickel-portfolio.8167212/