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NI

Nickel

16136 USD/Mt -14802.6 (-91.74%) (Last updated - September 17, 2024 12:00 AM UTC )
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About

Performance USD/oz Change
5 Day -91.53%
1 Month -91.86%
3 Months -92.29%
6 Months -92.38%
52 Week -92.13%

September 17, 2024 12:00 AM 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 0.140 0.000 0.000 0.140 0.140 14043 110.625 M
ALY Alchemy Resources Ltd 0.007 0.001 16.667 0.007 0.007 150000 8.247 M
AMD Arrow Minerals Ltd 0.002 0.000 0.000 0.002 0.002 514108 26.447 M
AOA Ausmon Resources Ltd 0.002 0.000 0.000 0.002 0.002 -- 2.298 M
AQD Ausquest Ltd 0.008 -0.001 -11.111 0.008 0.008 2326991 6.609 M
ARL Ardea Resources Ltd 0.410 0.010 2.500 0.410 0.400 3194 77.876 M
ARV Artemis Resources Ltd 0.012 0.000 0.000 0.012 0.011 3566598 24.919 M
ATM Aneka Tambang Tbk PT DRC 0.860 0.000 0.000 0.860 0.860 -- 4,133.289 M
AUZ Australian Mines Ltd 0.013 -0.001 -7.143 0.014 0.013 1987957 18.181 M
AVL Australian Vanadium Ltd 0.014 0.000 0.000 0.014 0.014 4148133 129.520 M
AXE Archer Exploration Ltd 0.325 0.010 3.175 0.350 0.310 1113700 77.728 M
BHP BHP Group Limited 40.550 -0.350 -0.856 40.550 40.030 6988271 217,970.917 M
BOE Boss Energy Limited 3.040 0.060 2.013 3.130 3.015 3887696 1,306.905 M
BSX Blackstone Minerals Ltd 0.028 -0.001 -3.448 0.028 0.028 20011 15.766 M
CCZ Castillo Copper Ltd 0.010 0.000 0.000 0.010 0.010 26990 14.537 M
CHN Chalice Mining Limited 1.460 -0.025 -1.684 1.505 1.430 3351712 616.608 M
CLA Celsius Resources Ltd 0.011 0.001 10.000 0.011 0.011 4815751 25.710 M
CNJ Conico Ltd 0.001 0.000 0.000 0.001 0.001 -- 2.202 M
CTM Centaurus Metals Ltd 0.420 -0.020 -4.546 0.430 0.410 104964 225.999 M
CWX Carawine Resources Limited 0.115 0.000 0.000 0.115 0.115 -- 23.613 M
CZN Corazon Mining Ltd 0.005 0.000 0.000 0.005 0.005 100010 4.007 M
ENT Enterprise Metals Ltd 0.004 0.000 0.000 0.004 0.004 -- 4.713 M
ESR Estrella Resources Ltd 0.016 -0.001 -5.882 0.017 0.016 3675229 29.883 M
FML Focus Minerals Ltd 0.170 -0.010 -5.556 0.180 0.170 225991 51.581 M
G88 Golden Mile Resources Ltd 0.012 0.000 0.000 0.012 0.012 29153 5.674 M
GAL Galileo Mining Ltd 0.135 0.000 0.000 0.140 0.135 129360 27.668 M
GBR Great Boulder Resources Ltd 0.042 0.000 0.000 0.043 0.041 1027850 32.632 M
GTE Great Western Exploration Ltd 0.034 0.001 3.030 0.034 0.027 1473136 18.261 M
HLX Helix Resources Ltd 0.004 0.000 0.000 0.004 0.004 1144991 13.057 M
IGO IGO Ltd 5.210 0.010 0.192 5.300 5.105 5937701 3,998.375 M
IPT Impact Minerals Ltd 0.012 0.000 0.000 0.012 0.012 642142 36.713 M
JRV Jervois Mining Ltd 0.012 0.001 9.091 0.012 0.011 1962219 32.433 M
KAI Kairos Minerals Ltd 0.015 -0.001 -6.250 0.016 0.015 369789 42.095 M
KOR Korab Resources Ltd 0.008 0.000 0.000 0.008 0.008 -- 2.936 M
LEG Legend Mining Ltd 0.013 0.000 0.000 0.013 0.012 74597 37.823 M
LM8 Lunnon Metals Ltd 0.265 0.005 1.923 0.265 0.250 122674 65.038 M
MEI Meteoric Resources NL 0.115 0.005 4.546 0.115 0.105 3513624 241.365 M
MLX Metals X Ltd 0.460 -0.020 -4.167 0.485 0.455 2569834 421.419 M
MRD Mount Ridley Mines Ltd 0.001 0.000 0.000 0.001 0.001 100000 7.785 M
MRR Minrex Resources Ltd 0.008 0.000 0.000 0.008 0.008 452948 8.679 M
NIC Nickel Industries Limited 0.875 -0.010 -1.130 0.887 0.865 3248768 3,968.074 M
NIS Nickelsearch Ltd 0.014 0.000 0.000 0.014 0.014 75729 7.133 M
NME Nex Metals Explorations Ltd 0.031 -0.005 -13.889 0.031 0.030 192764 9.802 M
NST Northern Star Resources Ltd 16.540 -0.010 -0.060 16.710 16.390 3522311 18,969.721 M
ORN Orion Minerals Ltd 0.016 0.000 0.000 0.017 0.016 207064 123.058 M
PGM Platina Resources Ltd 0.020 0.001 5.263 0.020 0.020 42253 12.464 M
PNN Power Minerals Ltd 0.099 0.000 0.000 0.099 0.096 178790 10.900 M
POS Poseidon Nickel Ltd 0.005 0.000 0.000 0.005 0.004 2516511 21.019 M
RIE Riedel Resources Ltd 0.002 0.001 100.000 0.002 0.001 529838 2.224 M
RIO Rio Tinto Ltd 113.660 -3.880 -3.301 115.330 113.460 1873032 197,567.332 M
RNU Renascor Resources Ltd 0.069 -0.001 -1.429 0.070 0.067 3264630 180.470 M
RXL Rox Resources Ltd 0.155 -0.015 -8.824 0.160 0.145 1079171 65.695 M
S32 South32 Ltd 3.540 -0.070 -1.939 3.570 3.500 12657462 17,259.280 M
SBR Sabre Resources Ltd 0.011 0.000 0.000 0.011 0.011 280606 4.716 M
SFM Santa Fe Minerals Ltd 0.030 0.000 0.000 0.030 0.030 -- 2.185 M
SFR Sandfire Resources NL 10.100 -0.020 -0.198 10.180 9.880 1745322 4,840.704 M
SFX Sheffield Resources Ltd 0.230 0.010 4.546 0.230 0.225 209958 76.987 M
SGQ St George Mining Ltd 0.025 0.000 0.000 0.025 0.025 -- 27.214 M
SMI Santana Minerals Ltd 0.605 0.000 0.000 0.640 0.590 1559694 401.350 M
SRI Sipa Resources Ltd 0.016 0.000 0.000 0.016 0.016 37963 3.879 M
SRL Sunrise Energy Metals Ltd 0.290 0.000 0.000 0.295 0.270 9405 28.873 M
TLM Talisman Mining Ltd 0.220 -0.005 -2.222 0.230 0.210 597256 41.430 M
VMC Venus Metals Corporation Ltd 0.076 0.000 0.000 0.076 0.076 15263 13.533 M
VMS Venture Minerals 0.012 0.000 0.000 0.012 0.011 707658 32.050 M
VRX VRX Silica Ltd 0.040 0.000 0.000 0.041 0.039 727397 25.130 M
WCN White Cliff Minerals Ltd 0.017 -0.001 -5.556 0.018 0.017 3948489 34.029 M
* Data powered by EODHD®. Data delayed 20 minutes unless otherwise indicated.

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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