Currently, the two leading source countries for nickel are Brazil, with Vale’s nickel operations and Russia, with Amur Minerals Corporation, which is exploring one of the biggest nickel deposits globally. Nickel deposits are scattered across the globe and with some regions producing more than others, particularly Australia and Canada. But nickel is susceptible to price changes and deficits because of contributing factors such as Indonesia’s ban on all nickel exports and China’s declining nickel sales.
The good news is that Brazil is one of the countries that is shaping the nickel situation and insiders believe it will help to correct the deficit in China. According to a report by Mining.com, Brazil’s Vale stated a 16 percent nickel production increase in 2014, particularly in the last quarter. September 2014 allowed Vale to produce more than 72,1000 tonnes of nickel, the company’s best third-quarter performance since 2008.
The company’s total output for 2014 accumulated to 201,400 metric tons, making the company confident that it will be able to step up its revenue potential to 289,000 the next time they review their performance. Vale’s targets trump Russia’s Norilsk Nickel, the world’s largest producer of nickel, which aims to produce 230,000 tons in 2015.