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 Rank Rank 2019 Company Name Headquarters
1 1 MMC Norilsk Nickel Russia
2 2 Vale SA Brazil
3 3 Glencore plc Switzerland
4 4 BHP Australia
5 5 Sumitomo Metal Mining Co Ltd Japan
6 6 Eramet SA France
7 7 Anglo American plc United Kingdom
8 8 South32 Ltd Australia
9 9 PT Aneka Tambang Persero Tbk Indonesia
10 10 Lundin Mining Corp Canada

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 Name Country State Owner Mine Type & Method Production 2020 (Thousand tonnes)
Sorowako Mine Indonesia South Sulawesi Vale SA(44.3%), Undisclosed(20.7%), PT Indonesia Asahan Aluminium(20%), Sumitomo Metal Mining Co Ltd(15%) Surface & Open Cast 71.6
Taganito Mine Philippines Surigao del Norte Nickel Asia Corporation(65%), Pacific Metals Co Ltd(33.5%), Sojitz Corp(1.5%) Surface & Open Pit 67.32
Oktyabrsky Mine Russia Krasnoyarsk Krai MMC Norilsk Nickel(100%) Underground & Cut and Fill 52.92
Rio Tuba Mine Philippines Palawan Nickel Asia Corporation(60%), Pacific Metals Co Ltd(36%), Sojitz Corp(4%) Surface & Open Pit 46.57
Yiwan Mine Indonesia South Kalimantan PT Yiwan Mining(100%) To be confirmed & To be confirmed 42.99
Komsomolsky Mine Russia Krasnoyarsk Krai MMC Norilsk Nickel(100%) Underground & Cut and Fill 42.09
Taimyrsky Mine Russia Krasnoyarsk Krai MMC Norilsk Nickel(100%) Underground & Cut and Fill 41.9
Cerro Matoso Mine Colombia Cordoba South32 Ltd(99.94%), Undisclosed(0.059%) Surface & Open Cut 40.6
Raglan Mines Canada Quebec Glencore Plc(100%) Underground & Room and Pillar 39.23
Murrin Murrin Mine Australia Western Australia Glencore Plc(100%) Surface & Open Cast 36.4

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 Name Country State Owner Mine Type & Method Annual Production Capacity (Thousand tonnes)
Kingash Project Russia Krasnoyarsk Krai ONEXIM Group(90.47%), Undisclosed(9.53%) Surface & Open Pit 72.1
Bahodopi Project Indonesia Central Sulawesi Vale SA(59.28%), Undisclosed(20.49%), Sumitomo Metal Mining Co Ltd(20.09%), Sumitomo Corp(0.14%) Surface & Open Cut 70
Sulawesi Project Indonesia South Sulawesi PT Sulawesi Cahaya Mineral(100%) Surface & Open Pit 46
Honeymoon Well Project Australia Western Australia BHP(100%) Surface & Open Pit 45
Wingellina Project Australia Western Australia Metals X Ltd(100%) Surface & Open Pit 40
Enterprise Nickel Project Zambia North-Western First Quantum Minerals Ltd(100%) Surface & Open Pit 38
Mayaniquel Project Guatemala Izabal International Nickel Supply SA(100%) Surface & Open Pit 36.5
Brolga Project-Stage 2 Australia Queensland Queensland Nickel Pty Ltd(100%) Surface & Open Cut 36
Kabanga Project Tanzania Kagera Kabanga Nickel Ltd(84%), Government of Tanzania(16%) Underground & To be confirmed 35
Jacare Project Brazil Para Anglo American Plc(100%) Surface & Open Pit 35

Source: GlobalData

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