The Best Nickel Producing Countries In The World

The Best Nickel Producing Countries In The World
The Best Nickel Producing Countries In The World – Indonesia, the Philippines and Russia are the top nickel producing countries in 2021. Are you interested in investing in nickel? Find out which countries are on the list.

As the electric vehicle (EV) industry continues to boom, the future for nickel looks bright in the coming years and activity in the world’s top nickel-producing countries could pick up.

Demand for the raw material continues to grow, and companies and countries alike have been eager to jump on the nickel production bandwagon and make their mark with the base metal.

With that in mind, it is good to know the main nickel producing countries. Here, Investment News Network presents the top nickel-producing countries of 2021, based on the most recent data from the US Geological Survey.

  1. Indonesia

Mine production: 1 million MT

Claiming the number one spot in nickel production, Indonesia is a prime example of a country seeking to enter the explosive nickel market. After growing rapidly from 2017 production of 345,000 metric tons (MT) to reach 1 million MT by 2021, the country also has reserves of 21 million MT.

Indonesia is actively building its EV battery industry. The country’s proximity to China, the current world leader in electric vehicle manufacturing, makes it an ideal deal. In May 2021, the country welcomed the commissioning of its first plant to process nickel for use in EV batteries. Seven other projects are reportedly in progress, according to the Center for Strategic and International Studies.

  1. Filipina

Mine production: 370,000 MT

The Philippines has been a major nickel producing and nickel ore exporting country for some time. After taking a minor hit between 2017 and 2018, when nickel production fell from 366,000 MT to 340,000 MT, the top country increased its output to 420,000 MT in 2019.

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However, the upward trend was short-lived as the country continues to face record rains that have flooded mining operations.

Another country close to China, the Philippines, currently has 30 nickel mines; Nickel Asia is one of the country’s leading nickel ore producers.

Commodity analysts at S&P Global Market Intelligence have estimated that nickel production mined in the Philippines could increase at a compound annual growth rate of 9 percent between 2021 and 2025 to reach around 500,000 MT.

  1. Russia

Mine production: 250,000 MT

Despite ranking third on this list, Russia has seen a decline in nickel production in recent years. In 2018, the national production of nickel reached 272,000 MT, but it will reach 250,000 MT in 2021.

Norilsk Nickel Russia (OTC Pink: NILSY,MCX: GMKN) is one of the world’s largest producers of nickel and palladium. The company plans to invest $35 billion in energy infrastructure upgrades over the next decade in hopes of increasing its mine output by 2030.

  1. New Caledonia

Mine production: 190,000 MT

The French nation off the coast of Australia has also seen a decline in nickel production in recent years, falling from 220,000 MT in 2019 to 190,000 MT in 2021.

New Caledonia has refused to sell nickel ore directly to major nickel-consuming countries like China in the past to preserve its domestic smelting and refining industry, which is its main source of income.

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However, in December 2016, the New Caledonian Government approved a request by nickel miners to export more than 2 million MT of additional ore to China. The country’s economy is now at risk as it is highly dependent on nickel prices.

In 2020, major miner Vale (NYSE:VALE) sold its stake in the Goro nickel mine in New Caledonia. Currently, provincial authorities and local interests have a 51 percent stake in the mine, while global commodity trader Trafigura and electric vehicle maker Tesla (NASDAQ:TSLA) also have significant stakes.

  1. Australia

Mine production: 160,000 MT

Australia, a major nickel producing country, saw production decline from 180,000 MT in 2019 to 160,000 MT in 2021. Some of the country’s major producers include BHP (NYSE:BHP,ASX:BHP,LSE :BHP), which is 100 percent owned by Nickel West Division.

After the devastating fall in nickel prices from 2014 to 2016, several mines closed. However, as the raw material rallied, bottom-hole miners are giving the base metal another chance. That includes Mincor Resources (ASX:MCR,OTC Pink:MCRZF), which has been actively working on a “nickel restart strategy” involving four deposits in Western Australia’s Kambalda region.

  1. You’ve got

Mine production: 130,000 MT

Canada’s nickel production has decreased from 180,000 MT in 2019 to 130,000 MT in 2021. The Sudbury Basin country is the world’s second largest supplier of nickel ore, and Sudbury Vale’s operations are located there.

Other major nickel producers in Canada include Glencore (LSE:GLEN,OTC Pink:GLCNF), which owns the Raglan mine in Quebec, and the Sudbury integrated nickel operation in Ontario. The latter’s operations include the South Rim nickel mine, the Fraser mine, the Strathcona plant and the Sudbury smelter.

  1. Porcelain
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Mine production: 120,000 MT

China’s nickel production has remained relatively constant in recent years. In addition to being one of the top nickel-producing countries, China is the world’s leading producer of nickel pig iron, which is a low-grade ferronickel used in stainless steel. Jinchuan Group International Resources (HKEX:2362) is the holding company of Jinchuan Group, a large nickel producer in China.

China also plays an important role in the price of nickel due to the role of the raw material in the production of stainless steel, especially in the case of Asian countries.

  1. Brazil

Mine production: 100,000 MT

Unlike many of the nickel-producing countries on this list, Brazil’s nickel production has increased in recent years, rising from 74,400 MT in 2019 to 100,000 MT in 2021.

Vale, a leading producer based in Brazil, sold the Jaguar nickel project in the Caraj Homeops mining province to Centaurus Metals (ASX:CTM,OTCQX:CTTZF) in April 2020. The project has a resource of 40.4 million of TM at 0.78% nickel. , with a total of 315,000 tons of nickel content. Jaguar is one of three mining projects selected by the Brazilian government to receive support in obtaining environmental permits.

  1. United States of America

Mine production: 18,000 MT

Lastly, US nickel has risen from its 2019 figure of 14,000 MT to 18,000 MT in 2021.

Eagle Mine is the only major nickel mining project in the US Mine located in the Yellow Dog Plains in the Upper Peninsula of Michigan.