The world's biggest nickel producer is experiencing a rapid depletion of ore after a surge in downstream investment.

The upsized financing represents nearly double the initial offering amount.

The company is accelerating the next phase of its recycling project to demonstrate that its hydrometallurgical black mass process is scalable, profitable, and can be implemented at other locations.

Eddy will be on the new board of directors from the closure of MIND ID transactions, expected this month, until 2027.

The quota issued should be enough, as nickel ore consumption last year was below this, its energy and mineral resources minister said.