Ores of nickel are mined in about 20 countries on all continents, and are smelted or refined in about 25 countries. Primary nickel is produced and used in the form of ferro-nickel, nickel oxides and other chemicals, and as more or less pure nickel metal. Only about 1 million tonnes of new or primary nickel are produced and consumed annually in the world, compared with over 10 million tonnes of copper and nearly 800 million tonnes of steel. The nickel reserves shown above are calculated by the USGS in 1996 and relate to proven reserves in land based deposits. The development of new process technologies will result in the conversion of some resources into the reserve base.
Ongoing exploration continues to add to both bases.
According to some sources, nickel resources on the sea-bed are many times those located on land. The land resource base is thought to be in excess of 100 years at the present mining rate. Little growth is expected in the other sectors of first use. This drop reflects a decline in nickel demand resulting from a dramatic drop in industrial production in the former East Bloc countries. New projects scheduled for completion, mainly in Australia, and further expansions by existing producers indicate significant nickel production increases for 1999 and 2000.