May 3 (Reuters) - Nickel Mines Ltd NIC.AX :
* SIGNED MOU WITH SHANGHAI DECENT INVESTMENT (GROUP) FOR TWO OF ITS FOUR 80% OWNED ROTARY KILN ELECTRIC FURNACE LINES
* MOU FOR TWO 80% OWNED ROTARY KILN ELECTRIC FURNACE LINES TO UNDERGO MODIFICATIONS TO ALLOW THEM TO PRODUCE NICKEL MATTE PRODUCT
* SHANGHAI DECENT HAS PROVIDED A FIRM UNDERTAKING TO PURCHASE ALL OF CO'S NICKEL MATTE PRODUCTION
* OFFERED OPPORTUNITY TO CONVERT 2 OF ITS RKEF LINES OUT OF INITIAL 10 TO UNDERGO MINOR MODIFICATIONS REQUIRED TO PRODUCE NICKEL MATTE
* REQUIRED MODIFICATION COST FOR EACH RKEF LINE IS EXPECTED TO BE MINIMAL, ABOUT US$1M PER LINE