Top 10 biggest nickel projects
Nickel was commonly used in the production of stainless steel, but in recent years the base metal has seen rising demand for use in the production of battteries for electric vehicles. Analysts forecast that OEMs will contunute to favour high-nickel cathode battery chemistries.
The global nickel production volume is estimated to reach 2.76 million tons in 2024, growing at a CAGR of 2.92% for the period spanning 2020-2024. However, while the market is currently running at a surplus, a supply deficit is expect from 2027 as demand for battery metals accelerates.
MiningIntelligence has identified the ten major nickel deposits set to form part of the future global supply chain. We count down the largest projects under develpment worldwide, ranked by contained nickel resources in the measured and contained categories.
10: Metals X – Central Musgrave/Wingellina
Metals X is at the Feasibility stage at Central Musgrave/Wingellina in Western Asustralia.
Geology: Nickel – Cobalt Laterite
Commodity exposure: Cobalt, Iron Ore, Nickel
Contained Metal (t): 1,559,670
Grade (%): 0.93
Wingellina is one of the largest nickeliferous ‘pure oxide’ limonite accumulations in the world; a development-ready, high-grade project, with a demonstrated ability to produce nickel & cobalt sulphates, sulphides and hydroxides.
09: Teck Resources - Mesaba
Teck Resources is at the Advanced Exploration stage at Mesaba in Minnesota, US.
Geology: Magmatic Sulfide
Commodity exposure: Cobalt, Copper, Gold, Nickel, Palladium, Platinum
Contained Metal (t): 1,602,599
Grade (%): 0.10
Teck Resources Mesaba Copper-Nickel Project is one of several copper-nickel sulphide deposits within the Duluth Complex of Northern Minnesota. The deposit contains a geologic resource in excess of 1 billion tonnes.
08: Canada Nickel Company - Crawford
The Canada Nickel Company is at the Advanced Exploration stage at Crawford in Ontario, Canada.
Geology: Magmatic Sulfide
Commodity exposure: Cobalt, Nickel, Palladium, Platinum
Contained Metal (t): 1,685,210
Grade (%): 0.26
The Crawford project is located in the heart of the prolific Timmins-Cochrane mining camp in Ontario, Canada, and is adjacent to well-established, major infrastructure associated with over 100 years of regional mining activity.
07: Ardea Resources - Goongarrie
Ardea Resources is at the Feasibility stage at Goongarrie in Western Australia.
Geology: Nickel – Cobalt Laterite
Commodity exposure: Cobalt, Nickel
Contained Metal (t): 1,758,640
Grade (%): 0.69
The Goongarrie Nickel-Cobalt project is 100% owned by Ardea Resources and part of the largest Nickel Cobal resources in the developed world. Located in the tier-one mining jurisdiction of Kalgoorlie, Goongarrie offers world-class infrastructure as part of an established mining hub.
06: ANTAM - Sangaji
ANTAM is at the Advanced Exploration stage at Sanganji in Halmahera, Indonesia.
Geology: Nickel – Cobalt Laterite
Commodity exposure: Cobalt, Iron Ore, Nickel, Iron - Total
Contained Metal (t): 2,099,945
Grade (%): 1.70
Nickel ore is one of ANTAM’s most important products. ANTAM produces and exports high grade nickel ore with a minimum 1.8% nickel content and a maximum 25% iron content (saprolite) and low-grade nickel ore with a 1.2% minimum nickel content (limonite) and minimum 25% iron content.
05: Antofagasta – Twin Metals Minnesota
Antofagasta is at the Prefeasibility stage at Twin Metals in Minnesota, US.
Geology: Magmatic Sulfide
Commodity exposure: Cobalt, Copper, Gold, Nickel, Palladium, Platinum, Silver
Contained Metal (t): 2,318,371
Grade (%): 0.18
Antofagasta acquired the Twin Metals Minnesota project with the purchase of Duluth Metals in 2019. The underground copper, nickel, cobalt and platinum group metals mine will target the minerals within the Maturi deposit, which is part of the Duluth Complex geologic formation.
04: GIGA Metals - Turnagain
GIGA Metals is at the Preliminary Economic Assessment stage at Turnagain in BC, Canada.
Geology: Magmatic Sulfide
Commodity exposure: Cobalt, Nickel
Contained Metal (t): 2,361,763
Grade (%): 0.22
Turnagain has a projected mine life of 37 years, and is among the largest undeveloped sulphide nickel deposits in the world. Drilling first took place in 1967 with the most recent campaign in 2018 in which 40 drill holes totalling 10,835 m were completed, further characterised the resource and collected metallurgical samples.
03: FPX Nickel - Decar
FPX Nickel is at the Preliminary Economic Assessment stage at Decar in BC, Canada.
Geology: Altered Ultramafic
Commodity exposure: Nickel
Contained Metal (t): 2,434,965
Grade (%): 0.12
The Decar Nickel District, FPX Nickel’s flagship nickel property, is a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite, a naturally occurring stainless steel.
02: Waterton Precious Metals - Dumont
Waterton Precious Metals is at the feasibility stage at Dumont in Quebec, Canada.
Geology: Magamatic Sulfide
Commodity exposure: Cobalt, Nickel, Palladium, Platinum, Magnetite
Contained Metal (t): 4,392,726
Grade (%): 0.26
According to previous owner Kurora, Dumont is a shovel-ready and permitted nickel-cobalt-PGM development project, expected to produce an average of 39,000 tonnes of nickel over a 30-year mine life at all-in sustaining cash costs of $3.8 per lb, based on a 2019 feasibility study.
01: Deep Green Metals – NORI Clarion Clipperton
DeepGreen Metals is at the advanced exploration stage at NORI Clarion-Clipperton in the NE Pacific Ocean.
Geology: Sediment Hosted Manganese
Commodity exposure: Cobalt, Copper, Manganese and Nickel
Contained Metal (t): 4,830,797
Grade (%): 1.4
DeepGreen Metals is set to combine with the Sustainable Opportunities Acquisition Corporation (SOAC) to form The Metals Company. They are seeking to mine polymetallic nodules containing battery metals, from the seafloor.
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