nickel6 Dec 2016 08:04
Nickel still has upside potential, argues Cliff Smee, head of research and analysis for mining at GlobalData.
World refined-nickel consumption is set to grow at a compounded annual growth rate of 1.3%, according to the research and consulting firm.
“Growth is supported by rises in the population and urbanization in emerging economies such as China and India, which are expected to invest heavily in upgrading infrastructure and expanding industrial and output capacity,” Mr. Smee said.
Meanwhile, nickel-mine projects are expected to close over the next five years, including the Savannah and Mount Keith mines in Australia, the Cantilan nickel project in the Philippines, and the Lac Des Iles mine in Canada, GlobalData said. And nickel supplies have also been hurt by a crackdown on mining-related pollution in the Philippines, the world’s top supplier of nickel ore.