Do you know how many of the top ten undeveloped nickel mines in the world?
Time
2022-04-05 20:31
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Although most nickel is used to produce stainless steel, this base metal has played a central role in electric vehicle battery production as original equipment manufacturers (OEMs) are increasingly adopting high nickel batteries.
At present, the global nickel market is in a state of oversupply, but there will be a supply shortage by 2027, and demand is still accelerating.
This market change has been reflected in nickel prices recently reaching their highest point since 2014. In early March, international nickel prices skyrocketed to $10365 per ton, an increase of 250%. At present, the price is close to the key level that market participants believe is sufficient to stimulate new supply.
In order to identify important nickel mines that can provide nickel supply in the future, Mining.com and its sister website MiningIntelligence have listed the top 10 undeveloped nickel mine projects worldwide and ranked them according to the proven and estimated nickel metal resources.
Although Indonesia, the Philippines, and Russia are the world's largest nickel suppliers, 6 out of the top 10 nickel deposits come from North America. The top ranked is the Clarion Clipperton Zone (CCZ) polymetallic nodule mine located at the bottom of the Pacific Ocean, which is an exclusive economic zone between Hawaii and Mexico.
Development stage: Later exploration
Mineralization type: Submarine sedimentary manganese nodules
Associated minerals: cobalt, copper, manganese
The top contender is Nori's Clarion Kliburton project, which has a nickel metal resource of 11.53 million tons and is located in the northeast Pacific Ocean at depths below 4000-4500 meters. The project is named after the sea area between Hawaii and Mexico, which is part of international waters. The exploration contract is held by Nori Corporation, but The Metals Company, formerly known as DeepGreen Metals, has exclusive rights to the area.
The Clarion Kriburton project of Tonga Offshore Mining Limited (TOML)
Development stage: Later exploration
Mineralization type: Submarine sedimentary manganese nodules
Associated minerals: cobalt, copper, manganese
The TOML exploration area is adjacent to Tonga and is also part of the Metas assets, with an estimated metal content of 9.9 million tons and a grade similar to Nori's eponymous project. In 2020, Metas acquired TOML and granted the company exploration rights in the 71713 square kilometer CCZ block, with an estimated polymetallic nodule resource (wet weight) of 756 million tons.
Development stage: Late stage
Mineralization type: laterite type nickel cobalt deposit
Associated minerals: cobalt, iron
The mine is located on the island of Hamahira in Indonesia and is owned by the state-owned Anaka Mining Company (ANTAM). It has a nickel metal content of 6.61 million tons, ranking third.
Development Phase: Feasibility Study
Mineralization type: magmatic sulfide
Associated minerals: cobalt, palladium, platinum, magnetite
The fourth ranked is the Dumont nickel sulfide deposit located in Quebec, Canada, owned by Waterton Global Resource Management. The nickel metal resource is 6.61 million tons. Once put into operation, Dumont will become one of the world's largest nickel mines, with an expected lifespan of 30 years and an annual production capacity of 39000 tons of nickel. In 2021, the company hired Goldman Sachs as a consultant to transfer the project in order to raise funds.
Development phase: Pre feasibility study
Mineralization type: magmatic sulfide
Associated mineral: Cobalt
The Turnegan project is located in British Columbia, Canada and ranks fifth with a nickel metal resource of 4.84 million tons. It belongs to Giga Metals. The company hopes to build this project into the world's first carbon neutral mine.
Development phase: Pre feasibility study
Mineralization type: magmatic sulfide
Associated minerals: cobalt, copper, gold, palladium, platinum, silver
Antofagasta Company has a nickel resource of 4.24 million tons in the Tywin Metals project located in the Duluth Complex in Minnesota, USA. Due to environmental risks, the project has been highly controversial and its progress has been in a difficult situation. In 2021, the United States Bureau of Land Management agreed to reconsider the renewal of its 13 exploration rights in Minnesota, which may allow Antofagasta to continue advancing this copper nickel project.
Development phase: Pre feasibility study
Mineralization type: laterite type nickel cobalt deposit
Associated mineral: Cobalt
Anglo American Group's Jaacare project in Brazil ranks seventh with a nickel metal content of 3.92 million tons. The project is approximately 90 miles away from Vale's On ç a Puma nickel mine.
Development stage: Preliminary economic evaluation
Mineralization type: magmatic sulfide
Associated minerals: unknown
Ranked eighth is the Dicker Green Discovery of FPX Nickel, with a nickel resource of 3.11 million tons. The project is located in British Columbia, Canada, with developed iron nickel mineralization (awaruit), expected to have a mine life of 24 years, and can produce 37369 tons of concentrate annually.
Development stage: Later exploration
Mineralization type: magmatic sulfide
Associated minerals: cobalt, copper, gold, palladium, platinum
Teck Resources ranks ninth in the Mesaba nickel mine in the United States, with a nickel resource of 2.92 million tons. Mesaba is one of the largest sulfide deposits in the Duluth Complex in Minnesota.
Crawford
Development stage: Preliminary economic evaluation
Mineralization type: magmatic sulfide
Associated minerals: cobalt, palladium, platinum
Canada Nickel Company's Crawford Nickel Mine project in Ontario has a metal resource of 2.87 million tons. The mine is expected to have a lifespan of 25 years and emits approximately 2.05 tons of carbon dioxide per ton of nickel equivalent, which is 93% lower than the industry average of 29 tons.
In addition to the above 10 projects, Zebedeela in South Africa, Windy Craggy in northern British Columbia, and Ivanhoe's Platreef project in South Africa are also important, which has already been put into construction.
Source: Global Geological and Mineral Information System
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