Nickel Mining Presents the perfect Opportunity for a thriving global Industry

Nickel Mining Presents the perfect Opportunity for a thriving global Industry

Following a 4.2% decline in 2020 due to COVID-19, nickel production is witnessing a rebound driven by demand from stainless steel and electric vehicle (EV) battery markets.

Mining Technology monitors the world nickel market by analysing nickel price trends and country-wise nickel production, consumption, export and import data. We also track the performance of nickel mining companies and major nickel mines around the globe.

The global nickel mine output is forecast to exceed 2.7Mt by 2025, according to GlobalData.

Nickel Price Trend: Trailing 12 Months

Mining Technology presents price charts showing monthly nickel prices and the global nickel price trend over the last 12 months.

Nickel prices have increased over the last 12 months but are likely to moderate over the next 12 months due to increased supply.

Price 2021 ($/t)10,000-10,000-5,00005,00010,00015,00020,00025,00030,000LDecJan

Top Nickel Producing Companies by Production


Mining Technology ranks the top nickel producing companies in the world by comparing the annual production volumes of major nickel mining companies in different regions.

MMC Norilsk Nickel was the world’s biggest nickel miner in 2020, followed by Vale and Glencore.

The ten biggest nickel miners in the world together accounted for 39% of the global total nickel output in 2020.


Current RankRank 2019Company NameHeadquarters
11MMC Norilsk NickelRussia
22Vale SABrazil
33Glencore plcSwitzerland
55Sumitomo Metal Mining Co LtdJapan
66Eramet SAFrance
77Anglo American plcUnited Kingdom
88South32 LtdAustralia
99PT Aneka Tambang Persero TbkIndonesia
1010Lundin Mining CorpCanada

Source: GlobalData

Largest Nickel Producing Countries


Mining Technology has identified the world’s leading nickel producing countries from a comprehensive database that is regularly updated with the nickel output of each producing country.

Indonesia, the Philippines and Russian Federation were the biggest sources of nickel in 2020.

The world’s top ten nickel producing countries together accounted for 93% of the global nickel output in 2020.

Biggest Nickel Mines in the World


Mining Technology keeps track of the production of major nickel mining projects to find out the world’s biggest nickel mines.

With an output of 71.6 thousand tonnes, Sorowako Mine in Indonesia was the world’s biggest nickel mine by production in 2020.

The ten biggest nickel mining operations in the world together contributed 21% of the global nickel output in 2020.


Mine NameCountryStateOwnerMine Type & MethodProduction 2020 (Thousand tonnes)
Sorowako MineIndonesiaSouth SulawesiVale SA(44.3%), Undisclosed(20.7%), PT Indonesia Asahan Aluminium(20%), Sumitomo Metal Mining Co Ltd(15%)Surface & Open Cast71.6
Taganito MinePhilippinesSurigao del NorteNickel Asia Corporation(65%), Pacific Metals Co Ltd(33.5%), Sojitz Corp(1.5%)Surface & Open Pit67.32
Oktyabrsky MineRussiaKrasnoyarsk KraiMMC Norilsk Nickel(100%)Underground & Cut and Fill52.92
Rio Tuba MinePhilippinesPalawanNickel Asia Corporation(60%), Pacific Metals Co Ltd(36%), Sojitz Corp(4%)Surface & Open Pit46.57
Yiwan MineIndonesiaSouth KalimantanPT Yiwan Mining(100%)To be confirmed & To be confirmed42.99
Komsomolsky MineRussiaKrasnoyarsk KraiMMC Norilsk Nickel(100%)Underground & Cut and Fill42.09
Taimyrsky MineRussiaKrasnoyarsk KraiMMC Norilsk Nickel(100%)Underground & Cut and Fill41.9
Cerro Matoso MineColombiaCordobaSouth32 Ltd(99.94%), Undisclosed(0.059%)Surface & Open Cut40.6
Raglan MinesCanadaQuebecGlencore Plc(100%)Underground & Room and Pillar39.23
Murrin Murrin MineAustraliaWestern AustraliaGlencore Plc(100%)Surface & Open Cast36.4

Source: GlobalData

Major Upcoming Nickel Mines


Mining Technology lists the major upcoming nickel mines in the world by comparing annual production capacities of upcoming nickel mining projects.

The Kingash Project in Russia is the biggest upcoming nickel mine with an annual production capacity of 0.072Mt.

The Bahodopi Project in Indonesia and the Sulawesi Project in Indonesia are amongst the other major upcoming nickel mines with capacities of 0.070Mt and 0.046Mt, respectively.


Mine NameCountryStateOwnerMine Type & MethodAnnual Production Capacity (Thousand tonnes)
Kingash ProjectRussiaKrasnoyarsk KraiONEXIM Group(90.47%), Undisclosed(9.53%)Surface & Open Pit72.1
Bahodopi ProjectIndonesiaCentral SulawesiVale SA(59.28%), Undisclosed(20.49%), Sumitomo Metal Mining Co Ltd(20.09%), Sumitomo Corp(0.14%)Surface & Open Cut70
Sulawesi ProjectIndonesiaSouth SulawesiPT Sulawesi Cahaya Mineral(100%)Surface & Open Pit46
Honeymoon Well ProjectAustraliaWestern AustraliaBHP(100%)Surface & Open Pit45
Wingellina ProjectAustraliaWestern AustraliaMetals X Ltd(100%)Surface & Open Pit40
Enterprise Nickel ProjectZambiaNorth-WesternFirst Quantum Minerals Ltd(100%)Surface & Open Pit38
Mayaniquel ProjectGuatemalaIzabalInternational Nickel Supply SA(100%)Surface & Open Pit36.5
Brolga Project-Stage 2AustraliaQueenslandQueensland Nickel Pty Ltd(100%)Surface & Open Cut36
Kabanga ProjectTanzaniaKageraKabanga Nickel Ltd(84%), Government of Tanzania(16%)Underground & To be confirmed35
Jacare ProjectBrazilParaAnglo American Plc(100%)Surface & Open Pit35

Source: GlobalData

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