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NI

Nickel

16136 USD/Mt -187.5 (-1.15%) (Last updated - September 17, 2024 11:59 PM UTC )
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September 17, 2024 11:59 PM UTC

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Nickel is the fifth most abundant element on the earth and is around a hundred times more concentrated beneath the earth’s crust. After iron, nickel is considered to be the second most abundant element in the earth’s inner core. Nickel is a silvery-white lustrous metal. The metal when powdered records significant chemical action but thanks to its high oxidation properties, it is soon coated with an oxide layer on the surface. Due to the high chemical reactivity of the metal, pure nickel is found in tiny quantities within the earth’s crust.

Among industry materials, nickel plays a stabilising and supportive role. It is usually alloyed with other metals to produce shinier, stronger and long-lasting products. Nickel is widely used as the protective layer for softer metals.

Applications

Due to its ability to withstand high temperatures, nickel is utilised in the manufacturing of superalloys. These superalloys exhibit impeccable strength and resistance to oxidation, heat and corrosion. According to the Nickel Institute, roughly two-thirds of the nickel supply is used to manufacture stainless steel while one-fifth is used for steel and non-iron alloys for military, industrial and aerospace uses. Furthermore, one-tenth of the global supply is utilised for plating while the remaining is used for coins, electronics and batteries.

Nickel is widely used as a catalyst for the hydrogenation of unsaturated hydrocarbons. A nickel catalyst can be used to produce soaps and margarine and to shorten hydrocarbon chains. Nickel is also used extensively in varying applications of chemical manufacturing, including as cathodes in rechargeable battery packs, pigments and metal surface treatments.

Coinage and history

The metal has been extensively used in coins due to its long-lasting and corrosion-resistant properties. Between 1857 and 1858, the United States government issued the first-ever nickel coin, Flying Eagle, which consisted of 12% nickel and 88% copper. While most of the coins used gold and silver in historic times, governments across the globe began to issue nickel coins and notes.

Here is some trivia for you –Switzerland produced the first-ever pure nickel coin in 1881.

Occurrence

Nickel is usually found within two deposit types, laterite and magmatic sulphide deposits. Lateritic rock formations are a result of the intensive weathering of surface nickel-rich rocks over the years. Nickel is also found in manganese nodules and at the surface of the sea floor, but these sources are yet to be extensively extracted for the metal. Some of the primary minerals containing nickel are limonite, garnierite and pentlandite. 

During the mid-nineteenth century, Norway developed the first large-scale nickel smelting site, extracting nickel from pyrrhotite mineral. 1n 1883, large nickel deposits were discovered in the Sudbury Basin of Canada, which produces over 30% of the global nickel even today. It is believed that nickel formations in the Sudbury Basin are a result of meteoric activity in ancient times. In the early 1900s, additional nickel deposits were discovered in South Africa and the Russian Federation, strengthening nickel’s position in the metal industry. Nickel is widely mined in Indonesia, Russia, Australia, New Caledonia, Canada, Cuba and South Africa.

Magnetism

Nickel is among the four elements (iron, cobalt, germanium, and nickel) that exhibit ferromagnetism at room temperature. Permanent magnets based on nickel alloys such as Alnico have intermediate strength between iron-based permanent magnets and rare-earth elements-based magnets. Alnico is produced from the amalgamation of aluminum, nickel, and cobalt. Another nickel alloy, known as the Mu-metal is a soft magnetic alloy that contains over 80% nickel and 20% iron with little molybdenum. The alloy can be used to shield electronic equipment against low-frequency magnetic fields.

Code Company Price Chg %Chg High Low Volume Market Cap
AEE Aura Energy Ltd 0.130 0.000 0.000 0.130 0.120 1648198 118.657 M
ALY Alchemy Resources Ltd 0.008 0.000 0.000 0.008 0.008 300001 9.425 M
AMD Arrow Minerals Ltd 0.034 0.000 0.000 0.036 0.034 9006016 29.547 M
AOA Ausmon Resources Ltd 0.002 0.000 0.000 0.002 0.002 -- 2.410 M
AQD Ausquest Ltd 0.035 0.000 0.000 0.036 0.033 5465595 41.804 M
ARL Ardea Resources Ltd 0.460 0.000 0.000 0.465 0.440 54436 92.853 M
ARV Artemis Resources Ltd 0.008 0.000 0.000 0.009 0.008 154682 20.204 M
ATM Aneka Tambang Tbk PT DRC 0.995 0.000 0.000 0.995 0.995 -- 4,782.119 M
AUZ Australian Mines Ltd 0.009 0.000 0.000 0.009 0.009 100500 12.587 M
AVL Australian Vanadium Ltd 0.012 0.000 0.000 0.013 0.012 1051312 112.251 M
AXE Archer Exploration Ltd 0.295 0.000 0.000 0.315 0.300 261878 80.277 M
BHP BHP Group Limited 39.040 0.000 0.000 39.470 38.830 14686484 202,702.684 M
BOE Boss Energy Limited 2.480 0.000 0.000 2.600 2.470 6633837 1,063.164 M
BSX Blackstone Minerals Ltd 0.061 0.000 0.000 0.061 0.056 2758938 39.562 M
CCZ Castillo Copper Ltd -- -- -- -- -- -- 15.991 M
CHN Chalice Mining Limited 1.350 0.000 0.000 1.520 1.335 4426940 597.935 M
CLA Celsius Resources Ltd 0.010 0.000 0.000 0.011 0.010 3620563 26.692 M
CNJ Conico Ltd 0.006 0.000 0.000 0.007 0.006 176061 1.662 M
CTM Centaurus Metals Ltd 0.365 0.000 0.000 0.375 0.355 56843 183.779 M
CWX Carawine Resources Limited 0.095 0.000 0.000 0.095 0.095 -- 22.432 M
CZN Corazon Mining Ltd 0.002 0.000 0.000 0.002 0.002 379295 2.369 M
ENT Enterprise Metals Ltd 0.003 0.000 0.000 0.003 0.003 -- 3.535 M
ESR Estrella Resources Ltd 0.027 0.000 0.000 0.029 0.026 6450011 57.452 M
FML Focus Minerals Ltd 0.195 0.000 0.000 0.200 0.195 292808 57.312 M
G88 Golden Mile Resources Ltd 0.009 0.000 0.000 0.011 0.009 2936208 5.274 M
GAL Galileo Mining Ltd 0.140 0.000 0.000 0.160 0.140 21735 26.679 M
GBR Great Boulder Resources Ltd 0.072 0.000 0.000 0.074 0.071 2108178 55.414 M
GTE Great Western Exploration Ltd 0.030 0.001 3.448 0.030 0.029 24569 16.351 M
HLX Helix Resources Ltd 0.003 0.000 0.000 0.003 0.003 2000 10.093 M
IGO IGO Ltd 3.980 0.000 0.000 4.235 3.970 8500154 3,191.885 M
IPT Impact Minerals Ltd 0.007 0.000 0.000 0.009 0.007 13381795 27.535 M
JRV Jervois Mining Ltd 0.011 0.000 0.000 0.011 0.011 -- 29.730 M
KAI Kairos Minerals Ltd 0.018 0.000 0.000 0.019 0.018 7068794 47.356 M
KOR Korab Resources Ltd 0.008 0.000 0.000 0.008 0.008 -- 2.936 M
LEG Legend Mining Ltd 0.009 0.001 12.500 0.009 0.009 83333 23.276 M
LM8 Lunnon Metals Ltd 0.225 0.000 0.000 0.225 0.210 42708 46.332 M
MEI Meteoric Resources NL 0.065 0.000 0.000 0.070 0.063 5193015 154.292 M
MLX Metals X Ltd 0.510 0.000 0.000 0.540 0.495 5523535 484.856 M
MRD Mount Ridley Mines Ltd 0.003 0.000 0.000 0.003 0.002 449503 2.336 M
MRR Minrex Resources Ltd 0.008 0.000 0.000 0.008 0.008 142800 8.679 M
NIC Nickel Industries Limited 0.720 0.000 0.000 0.737 0.720 11972703 3,195.908 M
NIS Nickelsearch Ltd -- -- -- -- -- -- 5.095 M
NME Nex Metals Explorations Ltd 0.033 0.000 0.000 0.032 0.031 108621 10.478 M
NST Northern Star Resources Ltd 17.160 0.000 0.000 17.280 16.960 5610588 20,152.885 M
ORN Orion Minerals Ltd 0.016 0.000 0.000 0.017 0.016 97822 95.906 M
PGM Platina Resources Ltd 0.021 0.000 0.000 0.021 0.021 35888 13.087 M
PNN Power Minerals Ltd 0.088 0.000 0.000 0.088 0.087 114720 9.450 M
RIE Riedel Resources Ltd 0.038 0.000 0.000 0.038 0.038 -- 2.113 M
RIO Rio Tinto Ltd 113.370 0.000 0.000 115.990 112.850 3245754 189,073.146 M
RNU Renascor Resources Ltd 0.050 0.000 0.000 0.052 0.050 5374120 124.560 M
RXL Rox Resources Ltd 0.240 0.000 0.000 0.250 0.235 322897 148.931 M
S32 South32 Ltd 3.520 0.000 0.000 3.620 3.500 33431989 16,386.297 M
SBR Sabre Resources Ltd 0.008 0.000 0.000 0.008 0.008 -- 3.144 M
SFM Santa Fe Minerals Ltd 0.037 0.000 0.000 0.037 0.037 -- 2.694 M
SFR Sandfire Resources NL 10.590 0.000 0.000 10.720 10.475 2607579 4,956.308 M
SFX Sheffield Resources Ltd 0.215 0.000 0.000 0.215 0.215 49907 82.909 M
SGQ St George Mining Ltd 0.019 0.000 0.000 0.023 0.019 55497795 26.009 M
SMI Santana Minerals Ltd 0.560 0.000 0.000 0.580 0.540 1562740 389.997 M
SRI Sipa Resources Ltd 0.011 0.000 0.000 0.011 0.011 -- 4.580 M
SRL Sunrise Energy Metals Ltd 0.270 0.000 0.000 0.295 0.260 37199 26.166 M
TLM Talisman Mining Ltd 0.165 0.000 0.000 0.175 0.165 110894 32.956 M
VMC Venus Metals Corporation Ltd 0.082 0.000 0.000 0.082 0.082 460 15.494 M
VRX VRX Silica Ltd 0.037 0.000 0.000 0.041 0.036 561754 29.006 M
WCN White Cliff Minerals Ltd 0.018 0.000 0.000 0.018 0.018 2077377 34.119 M
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Frequently Asked Questions

Nickel is an essential nutrient for the human body but may cause harm if consumed in excess. Most issues related to nickel are seen due to breathing infected air or drilling nickel-rich water causing infection. Nickel is classified as carcinogenic for humans and may cause respiratory cancer, including lung cancer, as it has been observed in epidemiological studies of sulfidic ore refinery workers.

Oral consumption of nickel is mostly removed by kidneys and passed off as urine or the gastrointestinal tract without absorption. Overall, nickel is not toxic for humans but a larger dose of it or chronic inhalation may have repercussions, including cancer.

The majority of nickel is inaccessible since it is contained within the earth’s iron nickel molten core. Nickel is also present amongst dissolved minerals in the sea. Nickel present in soil is estimated to be present between 0.2 ppm and 450 ppm. Nickel is present in plants and vegetables. Among food items, nickel is present in beans and tea.

Nickel is also released into the environment by power plants, which later on settles to the ground upon contact with raindrops. Nickel’s presence at high concentrations in sandy soil could damage plants, and in water, could harm algae growth. Usually, nickel does not accumulate in plants or animals.

Indonesia is the largest nickel-producing country in the world and it banned nickel ore export in January 2021. The Indonesian government had banned nickel ore exports in an effort to boost the domestic nickel downstream sector and increase mining investments in the country. Some government officials have confirmed that the initiative had actually shown a positive impact on the domestic nickel industry and had boosted exports of nickel-derived products along with bringing in major investments.

Nickel is obtained via extractive metallurgy by conventional roasting and the reduction process to obtain the final product with more than 75% Ni grade. A majority of sulfide ores are processed using froth flotation and pyrometallurgical processes to produce nickel matte. Nickel matte can be processed further by the leaching and electrowinning (SX-EW) beneficiation processes. Alternatively, nickel matte can also be processed using the Sherritt-Gordon process, which produces a concentrate of cobalt and nickel, which can be later refined using the solvent extraction method to obtain 99% purity nickel.

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