One of the most valuable metals discovered on earth is Nickel. It also serves as one of the many resources that enable modern technologies.
Among the earth’s metals, Nickel is one of the most useful. It also serves as one of the many resources that enable modern technologies. For instance, Nickel is now prevalent for its use in electric vehicle batteries.
Nickel Global Reserves
The laterite and sulphide deposits are where the silvery metal is most frequently found. There are approximately 94 million tonnes of known nickel deposits worldwide, according to the US Geological Survey (USGS). In Indonesia and Australia, about half of them have been found.
In retrospect, a projected 2.5 million tonnes of Nickel were produced worldwide in 2020. Due to the interruption brought on by the COVID-19 pandemic and an export ban in Indonesia, it was slightly lower than the prior year.
However, it is anticipated that demand for the commodity will increase due to the development of green technologies such as the rechargeable batteries used in electric vehicles.
Top six countries with the largest nickel reserves in the world
| Rank | Country | Nickel Reserves | Production |
| 1 | Indonesia | 21 million tonnes | Island of Sulawesi andNorth Maluku province |
| 2 | Australia | 20 million tonnes | Mount Keith andLeinster |
| 3 | Brazil | 16 million tonnes | Goiás, central Brazil |
| 4 | Russia | 6.9 million tonnes | Norilsk |
| 5 | Cuba | 5.5 million tonnes | Moa region to east of the country |
| 6 | Philippines | 4.8 million tonnes | Surigao del Norte in Caraga |
Source: NS Energy
1. Indonesia – 21 million tonnes
The largest nickel reserves in the world are found in Indonesia. It holds 22% of the world’s identified nickel reserves, with 21 million tonnes.
The southeast Asian nation is also the largest metal producer, despite an 11% decline in production to 760,000 tonnes in 2020.
As for production, both the North Maluku province and the island of Sulawesi have sizable nickel operations. Along with other multinational companies like Brazil’s Vale, Indonesian miner Aneka Tambang is actively expanding Indonesia’s nickel reserves.
With giant firms like Tesla expressing interest in the region’s supply chains, the Indonesian government intends to use the rising worldwide demand for nickel as a catalyst for economic growth in the nation.
2. Australia – 20 million tonnes
The second largest nickel reserves in the world are found in Australia. It holds 21% of the world’s identified nickel reserves, with 20 million tonnes. Despite having enormous deposits, the country is just the fifth-largest producer of nickel in the world.
Nonetheless, its metal production climbed by 7% to 170,000 tonnes in 2020. Western Australia is where most of Australia’s nickel reserves are found.
The majority of the output is produced from the mines at Mount Keith and Leinster north of Kalgoorlie.
3. Brazil – 16 million tonnes
Brazil ranks third among nations with the largest nickel deposits in the world, with 16 million tonnes.
It is worth noting that the nation’s production has drastically decreased over the past five years. USGS forecasts show that it totaled 73,000 tonnes in 2020.
One of the top nickel producers in the world, Vale, operates in the nation. Horizonte Minerals is attempting to establish two nickel mines in the Carajás mining region in northeastern Brazil’s Pará State. Furthermore, Anglo-American runs two production sites in Goiás, central Brazil.
4. Russia – 6.9 million tonnes
Russia is the primary source of nickel for Europe. It has 7% of the global share, with 6.9 tonnes.
The majority of nickel mining in Russia is concentrated in Norilsk. There are also smaller projects in the works, including the Kun-Manie mine in the country’s far east and the Kingash mine in Krasnoyarsk Krai, Siberia.
5. Cuba – 5.5 million tonnes
Cuba ranks fifth among nations with the largest nickel deposits in the world, 5.5 million tonnes, or little under 6% of global reserves.
It is worth noting that one of Cuba’s most valued exports is nickel. However, despite its abundant resources, the nation only produced 49,000 tonnes in 2020.
A partnership between the government-run General Nickel Company of Cuba and Sherritt International of Canada extracts the metal together with cobalt in the Moa region to the nation’s east.
6. Philippines – 4.8 million tonnes
The sixth largest nickel reserves in the world are found in the Philippines, with 4.8 million tonnes of identified nickel reserves.
The nation produced more in 2020 than any other country except Indonesia. Its yearly nickel production is projected to be 320,000 tonnes. Its odds of regaining the top producer position in the world, which it previously owned, are expected to strengthen after Indonesia’s 2020 introduction of a restriction on nickel exports.
As for production, Surigao del Norte in Caraga is the most productive region. Moreover, the Taganito, Rio Tuba, Cagdianao, Carrascal, and Adlay Cagdianao Tandawa mines are other crucial nickel mining operations.
Global Ferronickel and Nickel Asia mining corporations are quite active throughout the nation.
Countries with the largest Nickel Production in the world
The exponential growth of the electric vehicle industry bodes well for the future of the nickel market in the world. It might encourage more mining in the top nickel-producing nations in the world.
| Rank | Country | Nickel Production |
| 1 | Indonesia | 1 million MT |
| 2 | Philippines | 370,000 MT |
| 3 | Russia | 250,000 MT |
| 4 | New Caledonia | 190,000 MT |
| 5 | Australia | 160,000 MT |
| 6 | Canada | 130,000 MT |
| 7 | China | 120,000 MT |
| 8 | Brazil | 100,000 MT |
| 9 | United States | 18,000 MT |
Source: Investing News
Top Nickel-producing companies
| Company | Country | Market Cap | Production |
|---|---|---|---|
| Nornickel | Russia | $48B | 178200 MT |
| Vale | Brazil | $59B | 167600 MT |
| Glencore | Switzerland | $64B | 101600 MT |
| BHP | Australia | $134B | 74800 MT |
| Anglo American | United Kingdom | $50B | 43600 MT |
| South32 | Australia | $12B | 36100 MT |
| Eramet | France | $2B | 35900 MT |
| IGO | Australia | $5B | 29500 MT |
| Terrafame | Finland | n/a | 28700 MT |
| MCC-JJJ Mining | China | $5B | 28600 MT |
The Brazil-based metals and mining company Vale ranks first in the top nickel-producing companies. Its 2019 nickel output is around 208,000 metric tonnes, down from 243,000 tonnes in 2017. It was followed by Norilsk Nickel in Russia, with 166,265 metric tonnes of output.
China’s Jinchuan Group comes third with 150,000 metric tonnes, followed by Glencore in Switzerland with 121,000 metric tonnes production.
Meanwhile, BHP Group is fifth in the rankings. It produced 87,400 metric tonnes of nickel in 2019.
Due to its superior ability to supply high energy density and better storage capacity at a cheaper price than other metals, nickel is essential for the shift to more modern energy sources. As a result, it is a crucial resource for the creation of cleaner technologies like EV batteries, wind, and solar energy.
