Nickel Industries Limited Announces Nickel Matte Sales Contract with Glencore
New Contract for Nickel Matte Sales with Glencore
Nickel Industries Limited (Nickel Industries) has announced its new nickel matte sales contract with Glencore AG (Glencore), effective from January 2024. This initial 6-month contract will involve the sale of nickel matte from the Company’s Hengjaya Nickel Project (HNI) to Glencore, marking Nickel Industries' first direct sales to western customers.
Glencore: A Major Player in Global Natural Resources
Glencore, a prominent global diversified natural resource company, is a significant producer and marketer of over 60 commodities. The company plays a critical role in the decarbonisation process, meeting today's energy needs through its extensive network of assets, customers, and suppliers worldwide.
Contract Details: Confidential Terms
The specific volume and pricing terms of the contract between Nickel Industries and Glencore remain confidential.
Statement from Nickel Industries' Managing Director
Justin Werner, Managing Director of Nickel Industries, commented on the new contract, expressing satisfaction and noting the significance of this development for the company. He stated, “We are delighted to have entered into this initial nickel matte sales contract with Glencore. This contract signals a maturing of our nickel matte business and an important diversification of our customer base into western markets closely linked with the global EV supply chain. Very pleasingly we have seen strong interest from global battery and EV makers for our matte product and welcome this first contract with Glencore as we continue to broaden our customer base.”
