1. Russia
Russia commands a significant percentage of the world’s nickel reserves, estimated at 7.3 million metric tons in 2024. Nickels reserves are spread throughout the country, though the primary reservoir is found in Norilsk in Northern Siberia. Norilsk Nickel, a global mining and metallurgical company headquartered in Moscow, is the world’s largest producer of nickel and palladium.
2. Australia
Australia finds its place as the second-largest country by nickel reserves with around 19 million metric tons. The primarily responsible area for this significant nickel reserve is Western Australia, particularly the area surrounding Kambalda and Leinster. BHP Billiton’s Nickel West, Mincor, and Western Areas are some critical players.
3. Brazil
Brazil is the third country with the most significant nickel reserves worldwide, approximated around 11 million metric tons. The primary nickel reserves are located in Goiás, Minas Gerais and Pará. The Brazil-based mining company Vale SA operates various mines across the country and is one of the top nickel producers globally.
4. Cuba
Cuba is the fourth-largest country in terms of nickel reserves. The Caribbean country holds an estimated 5.5 million metric tons in reserves. Moa, situated in the Holguin Province, is the central area where the nickel reserves are primarily located. The Moa mining operation is a joint venture between the Cuban government and the Canadian company Sherritt International.
5. Philippines
The Philippines holds approximately 4.8 million metric tons of nickel reserves. The nickel operations are spread across the country, with primary sites located in Palawan and Surigao. Nickel Asia Corporation, a Philippines-based company, is the largest nickel mining company in the country.
6. New Caledonia
New Caledonia, a part of French overseas territory, is one of the top nickel reserve countries, with around 6.7 million metric tons. The area’s main nickel operations are on the island’s east coast near Nouméa. The major producer in New Caledonia is Société Le Nickel (SLN), a subsidiary of France’s ERAMET.
7. Indonesia
Indonesia has become a significant player in nickel reserves, with an approximate 4.6 million metric tons in 2024. The main reserves are on Sulawesi Island. Various mining companies operate in the region, including state-owned PT ANTAM and private entities such as Eneos Corporation.
8. Canada
Canada has a long history of mineral exploitation, with nickel reserves of approximately 2.9 million metric tons. The high concentration of nickel reserves in Canada is found in the Sudbury Basin of Ontario. Companies like Vale and Glencore are major contributors to nickel mining and production in the country.
9. South Africa
Last on the list, South Africa holds around 3.7 million metric tons of nickel reserves in 2024. The main nickel-rich area is located in the northwestern regions of the country. Impala Platinum Holdings (Implats) is a key player in mining and processing nickel in South Africa.
