Power battery with flying nickel price The world's top 8 metal nickel producing countries How many do you know?

As the EV industry continues to boom, the outlook for nickel looks bright in the coming years, and activity in the world's major nickel producers is likely to increase
.
Demand for commodities continues to grow, and businesses and countries across the globe are eager to jump on the nickel production bandwagon and make their mark
on the metal.

With this in mind, it is necessary to take a look at the top nickel producing countries
.
According to the latest data from the US Geological Survey, the world's major nickel producing countries (with an annual production capacity of more than 100,000 tons)
are summarized.

1. Indonesia

Indonesia is globally recognized as a major producer of
nickel.
The country's nickel production increased from 345,000 mt in 2017 to 1 million mt
in 2021.
At the same time, the country also has 21 million tons of nickel reserves
.

Indonesia is actively building its EV battery industry
.
The country's good cooperation with China, the current world leader in electric vehicle manufacturing, combined with its geographical advantages, provides an ideal environment
for the country to develop.

2. Philippines

Philippine nickel production in 2021 was 370,000 tons
.
In fact, the Philippines has been one of
the largest nickel producers and nickel ore exporters for quite some time.
After a small blow in 2017-2018, nickel production fell from 366,000 tonnes to 340,000 tonnes, with the Philippines increasing production to 420,000 tonnes
in 2019.
However, the upward trend was short-lived, with rainfall flooding mining operations
.

The Philippines currently has 30 nickel mines
.
Commodity analysts at S&P Global Market Intelligence predict that nickel ore production in the Philippines could grow at a CAGR of 9% to about 500,000 tonnes
between 2021 and 2025.
Geographically, the Philippines is also close to China, a major electric vehicle manufacturer, which is also advantageous
for the country's future nickel industry development.

3. Russia

In 2021, Russia's nickel production reached 250,000 tons
.
Although it ranks third on this list, Russia's nickel production has been declining
over the past few years.
In 2018, the country's nickel production totaled 272,000 tons
.

Russia's Norilsk Nickel is one of the world's largest producers of
nickel and palladium.
The company plans to invest $35 billion in energy infrastructure upgrades over the next decade, hoping to increase its mining production
by 2030.

4. New Caledonia

French New Caledonia, which borders the Australian coast, has also seen nickel production decline in recent years, from 220,000 tonnes in 2019 to 190,000 tonnes in 2021
.

New Caledonia has in the past refused to sell nickel ore directly to major nickel-consuming countries such as China to protect its domestic smelting and refining industry
, which is its main source of revenue.

However, in December 2016, the New Caledonian government approved a request from nickel miners to export more than 2 million tonnes of additional ore to
China.
However, the country's economy is now at risk
due to its heavy reliance on nickel prices.

In 2020, major miner Vale sold its interest in
the Goro nickel mine in New Caledonia.
Today, provincial authorities and local interests hold a 51 percent stake in the mine, while global commodities trader Trafigura and electric car maker Tesla also hold significant stakes
.

5. Australia

Australia is another large nickel producer, however its production fell from 180,000 tonnes in 2019 to 160,000 tonnes
in 2021.
Some of the country's top producers include BHP, which owns all of
Nickel West.

After a devastating price crash in the nickel industry in 2014-2016, many mines closed
.
However, as commodities recover, miners are giving the metal another chance
.
These include Mincor Resources, which has been actively developing a "nickel restart strategy"
involving four deposits in the Kambalda region of Western Australia.

6. Canada

Canada's nickel production has fallen from 180,000 tonnes in 2019 to 130,000 tonnes in 2021
.
The country's Sudbury Basin is the world's second-largest supplier of nickel and is home to Vale's Sudbury mine
.

Canada's other major nickel producer is Glencore, which owns the Raglan mine in Quebec and Sudbury Integrated Nickel Operations
in Ontario.
The latter's operations include the Nickel Rim South mine, the Fraser mine, the Strathcona plant and the Sudbury smelter
.

7. China

In recent years, China's nickel production has remained relatively stable
.
In addition to being one of the world's largest nickel producers, China is also the world's leading producer of nickel pig iron, a low-grade ferronickel used in stainless steel
.
Jinchuan Group International Resources is the parent company
of Jinchuan Group, a large nickel producer in China.

China also plays an important role in nickel pricing due to the role of commodities in stainless steel production, which mainly takes place in this Asian country
.

8. Brazil

Unlike many of the nickel producing countries on this list, Brazil's nickel production has actually increased in recent years, climbing from 74,400 tonnes in 2019 to 100,000 tonnes
in 2021.

Vale, Brazil's main producer, sold the Jaguar nickel project to Centaurus Metals
in April 2020.
The project has a resource of 40.
4 million tonnes with 0.
78% nickel content, totalling 315,000 tonnes
of nickel.
Jaguar is one of
three mining projects selected by the Brazilian government to be supported by environmental permits.