Global nickel production to grow 20% by 2026 - report
(Kitco News) - According to the recent report by GlobalData, the world’s total nickel mine production is expected to reach 2,427.4 thousand tonnes (kt) in 2021, up by 6.8% over 2020, after registering an estimated 4.2% decline to 2,272.0 kt in 2020, amid the COVID-19 pandemic.
GlobalData said that nickel output from Indonesia, the Philippines and Brazil will be significant contributors to the overall growth. In contrast, production is expected to decline in Russia, South Africa and Finland, owing to lower production from the Oktyabrsky and Taimyrsky mines and the planned closure of African Rainbow Minerals’ Nkomati mine in 2021.
The authors of a report noted that the global nickel production over the forecast period is expected to grow at a CAGR of 3.0%, to reach 2,730.6kt in 2025, with Indonesia, Russia, Canada and the Philippines being the key contributors to this growth.