The World’s Largest Nickel Mining Companies
By Niccolo Conte of VisualCapitalist.com
As the world transitions towards electric vehicles and cleaner energy sources, nickel has emerged as an essential metal for this green revolution.
Needed for the manufacturing of electric vehicles, wind turbines, and nuclear power plants, nickel is also primarily used to make stainless steel alloys more resistant to corrosion and extreme temperatures.
Using data from Mining Intelligence, this graphic shows the top 10 companies by nickel production along with their market cap.
The Biggest Nickel Miners by Production in 2020
Nickel has long been an important mineral for batteries, plating, and steelmaking, but it was only recently added to the USGS’s proposed critical minerals list.
As countries and industries realize the importance of nickel for the development of sustainable technologies, nickel mining companies will be at the forefront of supplying the world with the nickel it needs.
The 850 kt of nickel mined by the top 10 nickel mining companies is worth around $17.3B, with both production and price expected to grow alongside nickel demand.
With 46% of Nornickel’s energy mix sourced from renewable power, the company is pushing the development of carbon neutral nickel, starting with reducing carbon dioxide emissions by 60,000-70,000 tons in 2022.
Vale follows closely behind in production and in its carbon footprint goals. The Brazil-based company’s Long Harbour processing plant in Newfoundland and Labrador produces nickel with a carbon footprint about a third of the industry average–4.4 tonnes of CO2 equivalent per tonne of nickel compared to Nickel Institute’s average of 13 tonnes of CO2 equivalent.
With the top two companies producing more than half of the nickel produced by the top 10 miners, their efforts in decarbonization will pave the way for the nickel mining industry.