5 Countries with the Largest Nickel Reserves in the World

In this article, we will discuss the 5 countries with the largest nickel reserves in the world. If you want to read the detailed analysis of the industry, its future outlook, and key players, please head over to 10 Countries with the Largest Nickel Reserves in the World.

5. New Caledonia

Nickel reserves as of 2021: 7.1 million metric tonnes

New Caledonia is one of the 13 French-administered territories outside Europe. Nickel is one of its major contributors to the economy. The country’s Goro mine has one of the largest nickel reserves in the world. The deposit contains close to 6 million tonnes of metal and has the capacity to produce around 60 kilotonnes of nickel per annum. The mine’s project has seen constant delays in operations due to resistance from the indigenous residents of New Caledonia, the Kanak people. Most of the company’s nickel production is controlled by the French company, ERAMET S.A. (OTC:ERMAY).

In 2020, New Caledonia was the fourth largest producer of nickel with 200 kilotonnes produced in the year, and the country with the 5th largest nickel reserves in the world. 24% of private employment and 6% of the country’s GDP are owed to nickel production. In 2020, the country exported $538 million worth of nickel and its most significant destinations included China, South Korea, Japan, and France.