Nickel Mines to acquire a 70% stake in Oracle Nickel from Shanghai Decent Investment for $525m.

Nickel Mines, a firm that engages in the acquisition, exploration and development of nickel projects, agreed to acquire a 70% stake in Oracle Nickel, a project in Indonesia, from Shanghai Decent Investment, a firm engaged in the development and investment of raw materials, for $525m. “This transaction not only further cements our strategic partnership with Tsingshan but importantly continues to position Nickel Mines as a globally significant nickel producer. With our commitment to the Oracle nickel project coming rapidly on the heels of the fast-tracked commissioning of our 80%-owned Angel nickel project, Nickel Mines is set to more than triple the size of its attributable nickel production and operational cash flows over the next 15 months,” Justin Werner, Nickel Mines MD.