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.
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
