Nickel’s popularity has been growing in the recent years, with the automotive sector being the largest consumer of the element. In addition to nickel being used in electric-vehicle batteries, it is also utilized in stainless-steel production as well as in electroplating as it offers a decorative and protective coating. The aerospace sector also uses superalloys based on nickel in their jet engines because they can weather high temperatures.
Further, the element is used as a catalyst by the chemicals industry for a range of processes, including petroleum refining and margarine production.
Currently, the top nickel producer globally is Indonesia,with the Philippines coming in second. Other producers include Russia, Canada and Australia. Below, we look at the top five nickel mines globally.
Weda Bay Project
This surface mine is a joint venture partnership between Tsingshan Holding Group and PT Antam, a state enterprise owned by Indonesia. The mine, situated in Maluku, was opened in 2019 and produced about 516,700 tons of nickel last year.
The mine is a series of open pits, including the sites at Uni Uni, Nuspera, Sake West, Sake River and Kao Rahai. It is forecast to be in operation until 2069.
PT Halmahera Persada Lygend Project
This nickel hydrometallurgy project is located on Obi Island in Indonesia. It has a designed production capacity of 120,000 tons of nickel-cobalt compounds and an annual tonnage of 95,000.
The mine is operated by Ningbo Lygend Mining, with its production lines producing compounds such as mixed hydroxide precipitate cobalt sulphate and nickel sulphate.
Taganito Mine
This surface mine is located in Surigao del Norte in the Philippines. It’s owned and operated by Nickel Asia. In 2023, it produced roughly 70,410 tons of nickel. Experts expect the mine to run until 2049.
Sorowako Mine
This open pit lateritic nickel mine is located in Indonesia’s province of South Sulawesi. The latest data shows that in 2023 the mine produced 64,000 tons of nickel.
The mine is operated by Vale Indonesia, with its yearly production making up roughly 3% of total nickel produced globally. The mine is projected to operate till 2045, with proven and probable nickel reserves of 107 million tons of ore.
PT Huayue Nickel Cobalt Project
This mine is situated in the Indonesian province of Central Sulawesi and operated by Huayou Cobalt. The latest available data shows that in 2023 the mine produced nearly 42,000 tons of nickel. Nickel Industries, a nickel developer in Australia, bought 10% of this project at $270 million.
As exploration enterprises such as Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) focus on seeking out new sources of nickel, other major production centers of this mineral could come online outside the regions that have been known to dominate the production of nickel.
NOTE TO INVESTORS: The latest news and updates relating to Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) are available in the company’s newsroom at https://ibn.fm/FNICF
About MiningNewsWire
MiningNewsWire (“MNW”) is a specialized communications platform with a focus on developments and opportunities in the Global Mining and Resources sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MNW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MNW brings its clients unparalleled recognition and brand awareness.
MNW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from MiningNewsWire, text “BigHole” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.MiningNewsWire.com
Please see full terms of use and disclaimers on the MiningNewsWire website applicable to all content provided by MNW, wherever published or re-published: https://www.MiningNewsWire.com/Disclaimer
MiningNewsWire
Los Angeles, CA
www.MiningNewsWire.com
310.299.1717 Office
Editor@MiningNewsWire.com
MiningNewsWire is powered by IBN
