Nickel is a crucial component in the batteries that power electric vehicles, and as the the world shifts towards electrification, data from International Nickel Study Group shows a massive 22% year on year jump in January for global nickel production. At the current pace, mined nickel output is set to exceed 3.2 million tonnes per year.
To identify major nickel deposits with the potential to be part of future global supply, Mining Intelligence compiled a list of the 10 largest projects being explored worldwide and ranked them based on contained nickel resources in the measured, indicated and inferred categories.
#1 NORI Clarion-Clipperton
Development status: Advanced Exploration/Geology: Sediment Hosted Manganese
Other commodities: cobalt, copper, manganese
Holding on to first place is the Nori Clarion-Clipperton polymetallic project, 4,000 metres deep in the northeastern Pacific Ocean with 11.5 million tonnes contained metal. The project is named after the seafloor zone between Hawaii and Mexico, in international waters. The exploration contract is held by Nauru Ocean Resources Inc., but The Metals Company (NASDAQ: TMC) has exclusive access. Despite opposition from environmental groups, the CEO sees deep sea mining happening by the end of 2024.
#2 TOML Clarion-Clipperton
Development status: Advanced Exploration/Geology: Sediment Hosted Manganese
Other commodities: cobalt, copper, manganese
The TOML exploration zone is also part of The Metals Company’s portfolio, with estimated resources 10 million tonnes contained nickel and with grades similar to NORI. In 2020, the Metals Company acquired Tonga Offshore Mining, giving the company exploration rights to a 74,713-sq.-km block of CCZ seabed that contains an inferred resource of 756 million wet tonnes of polymetallic nodules.
#3 Sangaji
Development status: Advanced Exploration/Geology: Nickel-Cobalt Laterite
Other commodities: cobalt, iron
In third place is the Sangaji project in Halmahera, Indonesia, owned by Indonesian miner ANTAM with 6.7 million tonnes contained nickel.
#4 Turnagain
Development status: Prefeasibility/Geology: Magmatic Sulphide
Other commodities: cobalt
The Turnagain project operated by Giga Metals (TSXV: GIGA) in British Columbia moves up from fifth place last year to fourth place with 5.7 million tonnes contained nickel. Giga Metals plans to turn Turnagain into the world’s first carbon-neutral mine.
#5 Dumont
Development status: Feasibility/Geology: Magmatic Sulphide
Other commodities: cobalt, palladium, platinum, magnetite
Moving from fourth place last year into fifth place this year is Waterton Global Resource Management’s Dumont nickel-sulphide deposit in Quebec. With 5.7 million tonnes of contained nickel, once in production, Dumont is expected to average annual nickel production of 39,000 tonnes for over 30 years.
#6 Crawford
Development status: Preliminary Economic Assessment/Geology: Magmatic Sulphide
Other commodities: cobalt, palladium, platinum
Shooting up from 10th place last year into sixth place is Canada Nickel‘s (TSXV: CNC) Crawford project in Ontario with an expanded resource of 5.4 million tonnes contained nickel. The operation would generate 2.05 tonnes of carbon dioxide per tonne of nickel-equivalent production over a mine life of 25 years – 93% lower than the industry average of 29 tonnes of CO2.
#7 Decar
Development status: Prefeasibility/Geology: Magmatic Sulphide
Other commodities: N/A
In seventh place is FPX Nickel’s (TSXV: FPX) greenfield discovery at Decar with 4.6 million tonnes contained nickel. The project – named after the district in central British Columbia hosting the awaruite mineralization – is projected to produce 72,000 tonnes nickel per year over 35 years.
#8 Twin Metals
Development status: Prefeasibility/Geology: Magmatic Sulphide
Other commodities: cobalt, copper, gold, palladium, platinum, silver
In eighth place is Antofagasta’s (LSE: ANTO) Twin Metals project located in Minnesota’s Duluth Complex mining camp with 4.2 million tonnes contained nickel. The proposed mine has been under close scrutiny for years over potential environmental risks. The U.S. Interior Department in January blocked mining in part of northeast Minnesota for 20 years, the latest blow to the beleaguered project.
#9 Jacare
Development status: Prefeasibility/Geology: Nickel-Cobalt Laterite
Other commodities: cobalt
Anglo American’s (LSE: AAL) Jacare project in Brazil is in ninth place with 3.9 million tonnes contained nickel. Jacare lies about 90 miles away from the Vale’s Onça Puma nickel mine.
#10 Mesaba
Development status: Scoping/Geology: Magmatic Sulphide
Other commodities: cobalt, copper, gold, palladium, platinum
Teck Resources’ (TSX: TECK.A/TECK.B; NYSE: TECK) Mesaba nickel project in the U.S. is in ninth place with 3.3 million tonnes contained nickel. Mesaba is the largest sulphide deposit in Minnesota’s Duluth Complex.
Find more data at Mining Intelligence.
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