The Australian company, Direct Nickel, has developed a new method of extracting ore from nickel laterite deposits, which is set to revolutionize the global nickel and stainless steel industries.
Nickel latertite is often used to strengthen metals like stainless steel, but can be notoriously expensive to extract. The usual extraction method uses Sulphuric acid in the treatment plant, however the companyÂ’s Technical Director, Graham Brock, has commented that this new technology uses the lower cost and more environmentally friendly nitric acid instead, which will help to cut production costs in half.
Almost three quarters of the worldÂ’s nickel deposits are nickel sulphide and up to a third of those are located in Australia. However, it is not only Australian companies that are interested in the new technology as both China and Indonesia (the latter country is currently in the midst of a nickel laterite export ban) are interested in seeing the technology being used. In fact, Direct Nickel is entering into a joint venture with the Indonesian GovernmentÂ’s nickel mining company PT Antam.