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Nickel Production Outlook
Sulphide grade decline driven by aging operations and potential entry All nickel supplying geographies are expected to show grade decline
of new, low-grade projects over the next decade
Nickel average mined grade by ore type % Nickel average mined grade by country , %
1
1,
2.5 Sulphide 2.5 South Africa Brazil Canada Russia
Indonesia Australia China
2.0 2.0
1.5 1.5
1.0 1.0
-28%
0.5 0.5
0.0
2010 2020 2030 2040 2050 2010 2020 2030 2040 2050
1 - unconstrained, including probable, possible and speculative projects as supply
Data: CRU 15
