Nickel
Projects
Major Nickel Projects Worldwide
The development pipeline for Nickel projects spans exploration through production across multiple jurisdictions. We track 4 key projects that will shape the future supply landscape for this battery metal.
Current Production
3.6 million
tonnes
Top Producer
Indonesia
55% share
Projects Tracked
4
Reserves
130 million tonnes
Nickel Project Pipeline
The following projects represent the most significant Nickel operations and development-stage assets worldwide:
Weda Bay Industrial Park
Tsingshan/Eramet
Second major Indonesian nickel industrial park after IMIP; hosts RKEF and HPAL operations on Halmahera Island
Goro HPAL Plant
Prony Resources (formerly Vale NC)
Major HPAL operation that has faced persistent operational challenges since commissioning; under new ownership
Ravensthorpe
First Quantum Minerals
HPAL laterite operation suspended due to low nickel prices driven by Indonesian supply flood
Kabanga Nickel
Lifezone Metals/BHP/Tanzania
One of the worlds largest undeveloped high-grade nickel sulfide deposits; JV with BHP and Tanzanian government
Government Support and Strategic Initiatives
Recognizing the strategic importance of Nickel, governments in major consuming nations have launched programs to support project development. These include direct financing, loan guarantees, streamlined permitting, and bilateral resource partnerships. As a USGS-listed critical mineral, Nickel projects are eligible for various U.S. government support mechanisms including the Defense Production Act Title III program. EU Critical Raw Materials Act provisions enable fast-track permitting and financing support for Nickel projects within the EU and partner nations.
Key Industry Developments
Recent developments affecting the Nickel project landscape:
LME nickel short squeeze: prices spiked from $25,000 to $100,000+/tonne in hours as Tsingshan faced massive short position; LME suspended trading and cancelled trades, causing lasting credibility damage
Indonesian nickel production explosion: output more than doubled as Chinese-funded RKEF and HPAL plants ramped up, flooding global markets and crashing prices
Multiple non-Indonesian nickel operations suspended or closed (BHP Nickel West, Ravensthorpe, various Australian and New Caledonian operations) as Indonesian supply drove prices below their cost curves
Indonesia announced plans to cap nickel ore mining quotas to manage environmental impact and support domestic processing mandate
Western battery makers faced ESG dilemma: Indonesian nickel is cheap but associated with deforestation, carbon-intensive processing (coal-powered RKEF), and labor concerns
More on Nickel
Explore other aspects of the Nickel value chain.
Uses & Applications
Explore uses & applications for Nickel.
Supply Chain
Explore supply chain for Nickel.
Mining & Processing
Explore mining & processing for Nickel.
Refining & Grade Specs
Explore refining & grade specs for Nickel.
Recycling
Explore recycling for Nickel.
Substitutes
Explore substitutes for Nickel.
Return to the Nickel hub page or browse the full Mineral Library.