According to a MiningWeekly report, GlobalData, a data analysis company, predicts that world nickel production will fall by 7.4% to 2.19 million tons in 2020, mainly due to the temporary closure of mines caused by Covid-19 and the export ban imposed by Indonesia.
In 2020, Indonesia’s mine nickel output will fall from 800,000 tons in the previous year to 680,000 tons, a 15% drop.
Global Data Senior Mining Analyst Vinnetth Bajaj believes that Indonesian nickel mining companies without ferronickel production facilities have been facing difficulties in selling ore to domestic smelters at low prices and insufficient production capacity. Therefore, in the first three quarters of this year, the mine has been suspending or reducing production, and this situation is expected to continue for the rest of this year.
Affected by the Covid-19 epidemic and severe weather, mine nickel production in the Philippines is expected to drop by 9.3% to 293,400 tons in 2020. On April 1, Nickel Asia and Global Ferronickel suspended the production of nickel mines in Surigao Norte province, where most nickel mines in the Philippines are located. In mid-May, the mine started to resume production under strict compliance with epidemic prevention measures.
On the contrary, despite the challenge of the epidemic, the nickel mines in New Caledonia and Brazil were not affected, but the combined output of the two countries increased by 6.9%. The increase in production was mainly due to the resumption of production at the Santa Rita nickel mine in Brazil, which ceased production in 2015 due to low nickel prices. Vale's Goro nickel mine production in New Caledonia will also increase.
Looking ahead, the world's mine nickel output during the forecast period (2021-2024) will increase by an average annual rate of 4.2%, and the output will reach 2.64 million tons by 2024. The increase mainly comes from Indonesia, Australia, the Philippines and Canada. The combined output of these countries will increase from 1.42 million tons in 2021 to 1.64 million tons in 2024.
Nickel projects that will be put into operation during this period include East Halmahera in Indonesia (East Halmahera, commissioned in 2021) and Aquila Nickel (2023), and Russia’s Kingash (2024). ) Nickel ore.
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