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Sphere’s $2.4B ENC Stake Validates Nickel Industries’ Low-Carbon Ambitions
9:34am on Friday 30th of January, 2026 AEDT
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Mining
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Sphere’s $2.4B ENC Stake Validates Nickel Industries’ Low-Carbon Ambitions
9:34am on Friday 30th of January, 2026 AEDT
Key Points
Sphere Corp acquires 10% of ENC at US$2.4 billion valuation
Nickel Industries increases ENC stake to 46% with a single US$46 million payment
Revised acquisition schedule cuts NIC’s expected cash outflows by US$207 million
Sphere’s acquisition funded by US$210 million loan with NIC providing credit enhancement
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