9 Hotspots for Nickel: Countries with the Largest Reserves (2024 Update)

1. Indonesia Indonesia holds the top position in the list of countries with the highest nickel reserves in 2024. The country’s vast mineral resources have positioned it as a key player in the global nickel market. Indonesia’s nickel reserves are estimated to be around 21 million metric tons, comprising both nickel laterite and nickel sulfide ores. With the increasing demand for nickel in various industries such as stainless steel production, electric vehicle batteries, and renewable energy technologies, Indonesia’s nickel reserves play a crucial role in satisfying this demand. 2. Australia Australia secures the second spot on the list of countries with substantial nickel reserves. The country’s rich mineral deposits, especially in Western Australia and Queensland, have contributed to its significant nickel reserves. Australia’s nickel reserves are estimated to be approximately 20 million metric tons, with a considerable portion of nickel sulfide ores. The country’s well-established mining industry and advanced technological capabilities position Australia as a key nickel producer on the global stage. 3. Brazil Brazil holds the third position in terms of nickel reserves, boasting a substantial amount of nickel deposits within its territory. The country’s nickel reserves are estimated to be around 12 million metric tons, primarily consisting of nickel laterite ores. Brazil’s strong mining sector and favorable geological conditions have enabled it to leverage its nickel resources for economic development. With the growing demand for nickel in the steel and automotive industries, Brazil’s nickel reserves play a vital role in meeting global needs. 4. Russia Russia ranks fourth among the top countries by nickel reserves in 2024. The country’s vast landmass and mineral-rich regions, such as Norilsk in Siberia, host significant nickel reserves. Russia’s estimated nickel reserves stand at approximately 10 million metric tons, consisting of both nickel sulfide and nickel laterite ores. The country’s well-developed mining infrastructure and expertise in metal extraction technologies position Russia as a major player in the global nickel market. 5. New Caledonia New Caledonia, a French territory located in the Pacific Ocean, secures the fifth position on the list of countries with substantial nickel reserves. The region’s unique geology, characterized by large nickel laterite deposits, has endowed it with significant nickel resources. New Caledonia’s estimated nickel reserves are around 8 million metric tons, primarily in the form of nickel laterite ores. The territory’s strategic location and expertise in nickel mining contribute to its importance in the global nickel supply chain. 6. Canada Canada ranks sixth among the top countries with significant nickel reserves in 2024. The country’s diverse geological landscape, including regions like Sudbury in Ontario and Thompson in Manitoba, hosts substantial nickel deposits. Canada’s estimated nickel reserves stand at approximately 6 million metric tons, comprising mostly nickel sulfide ores. The country’s well-established mining industry and commitment to sustainable resource development make it a key player in the global nickel market. 7. China China holds the seventh position in terms of nickel reserves, leveraging its growing mining sector and technological capabilities to extract and process nickel resources. The country’s estimated nickel reserves are around 5 million metric tons, with a significant share of nickel laterite ores. China’s robust industrial base and increasing demand for nickel in various sectors, including electric vehicle production and stainless steel manufacturing, drive the exploration and exploitation of its nickel reserves. 8. Cuba Cuba secures the eighth spot on the list of countries with substantial nickel reserves, benefiting from its rich mineral deposits and mining expertise. The country’s estimated nickel reserves are around 4 million metric tons, primarily comprising nickel sulfide ores. Cuba’s strategic location in the Caribbean region and its focus on sustainable resource management position it as a key player in the global nickel market. The country’s efforts to enhance its mining infrastructure and attract foreign investment contribute to the development of its nickel industry. 9. Philippines The Philippines ranks ninth among the top countries with significant nickel reserves in 2024. The country’s nickel resources, found in regions like Surigao and Palawan, contribute to its estimated reserves of around 3 million metric tons, predominantly nickel laterite ores. The Philippines’ growing mining sector and government initiatives to promote responsible mineral extraction support the development of its nickel industry. With the increasing global demand for nickel in emerging industries, the Philippines plays a crucial role in meeting this demand through its nickel reserves.