Indonesian nickel resource companies continue to improve their performance

PT Trimegah Bangun Persada Tbk (NCKL), or Harita Nickel, reported bright Q3 2024 financial results, with revenues of 20.3 trillion rupiah in the first nine months, up 18.02% year-on-year, with nickel processing and mining divisions contributing significantly. China's Lygend system is the largest buyer, with significant growth in turnover. Gross profit and net profit increased despite rising costs, and net profit attributable to owners of parent company also increased. As a nickel company, NCKL operates two mines to supply ore to smelters, targeting to produce 120,000 tons of ferronickel nickel and 80,000-85,000 tons of MHP nickel from HPAL refinery, and ONC is already in full production capacity. NCKL is also exploring the development of battery materials, with a total asset of 51.69 trillion rupiahs and a controllable debt ratio, and consolidating its position as a leading nickel miner in the world.