Top 10 Largest Nickel Mines in the World and Their Owners, Weda Bay Indonesia is Number 1

Here is the list of the 10 largest nickel mines in the world, Indonesia is at the top.

The global nickel mining landscape has undergone significant transformation in recent years, with production increasingly concentrated in certain regions.

Where are the largest nickel mines in the world and in Indonesia located?

Indonesia has emerged as a global nickel production hub, hosting the world's largest nickel mine and several other major operations.

The abundant laterite deposits in Indonesia and the government's policies promoting domestic processing have attracted significant investment from international mining companies.

Since implementing the ban on raw nickel ore exports in 2020, Indonesia has forced mining companies to develop processing capabilities domestically.

This strategic policy has spurred over $30 billion in foreign direct investment into nickel processing facilities, doubling Indonesia's smelting capacity between 2020 and 2023.

Other countries are also known as major nickel producers.

Here are the top 10 largest nickel mines in the world as reported by discoveryalert.com.

1. Weda Bay Project (Indonesia)

Annual production: 516,700 tons of nickel (2023)

Owner: Tsingshan Holding Group

Type of mining: Surface (greenfield)

Location: Maluku, Indonesia

Estimated closure: 2069

The Weda Bay project has its own unique advantages, producing more than five times the volume of the world's second-largest nickel mine.

With an extended operational life until 2069, this major operation will be the foundation for global nickel supply for decades to come.

The scale of this extraordinary project is the result of abundant resources and strategic vision of Tsingshan.

The company has invested approximately $10 billion to date, creating an integrated mining, processing, and manufacturing ecosystem that covers the entire value chain from extraction to stainless steel and battery materials.

The laterite ore in this operation has a slightly higher grade (an average of 1.8 percent nickel) than Indonesian resources in general, which provides economic benefits.

The current reserves are estimated at 9.3 million tons of nickel, making it one of the largest nickel resources in the world.

The environmental footprint of Weda Bay remains significant despite its efficiency advantages, with operations consuming around 320 MW of power, largely from coal resources.

The company has announced plans to divert 40 percent of this demand to renewable resources by 2030, although the implementation schedule is still uncertain.

2. PT Halmahera Persada Lygend (Indonesia) Project

Annual production: 95,180 tons of nickel (2023)

Owner: Ningbo Lygend Mining

Location: North Maluku, Indonesia

This operation is a testament to the rapid development of Indonesia's nickel industry, with production capacity far surpassing that of most global competitors and firmly positioning it as the world's second-largest nickel mining country.

The investment of $1.45 billion by Ningbo LYGEND in HPAL technology allows the operation to process low-grade laterite ore (typically 1.0-1.3 percent Ni) into battery-quality material.

The result of the project is primarily aimed at the electric vehicle supply chain, with off-take agreements securing most of the production until 2030.

This facility produces mixed hydroxide precipitates containing about 37 percent nickel, which is one of the intermediate products with the highest purity in the Indonesian mining sector.

This achievement has made Lygend the technical leader in laterite processing.

The entire process flow of material operations has been digitized using Industrial Internet of Things (IIoT) sensors, creating what company officials refer to as the "digital twin" of physical operations, which optimizes production rates and recovery in real-time.

3. Taganito Mine (Philippines)

Annual production: 70,410 tons of nickel (2023)

Owner: Nickel Asia

Type of mining: Surface (greenfield)

Location: Surigao del Norte, Philippines

Estimated closure: 2049

Taganito Mine is the largest nickel operation in the Philippines and one of the most important mining projects in Southeast Asia, with large production capacity and long operational life projection.

The partnership between Nickel Asia Corporation and Sumitomo Metal Mining has enabled the development of an adjacent HPAL processing plant, making Taganito one of the few Philippine operations that produce high-value intermediate products instead of exporting raw ore.

This facility is an investment of $1.7 billion in downstream processing.

The laterite ore deposit in this mine covers approximately 4,376 hectares with an average nickel content of 1.44 percent.

The remaining usable life of 25+ years makes it an important asset for the mining sector in the Philippines, especially since other major mines like Rio Tuba will soon be closing.

Taganito has implemented innovative rehabilitation methods, including the use of native tree species and biotechnology techniques that have restored about 300 hectares of previously mined area to productive use.

Sorowako Mine (Indonesia)

Annual production: 64,100 tons of nickel (2023)

Owner: Vale

Type of mine: Surface (brownfield)

Location: South Sulawesi, Indonesia

Estimated closure: 2045

Operated by global mining giant Vale, the Sorowako Mine is one of the longest-running major nickel operations in Indonesia, with significant production capacity and an operational life span of two decades remaining.

Vale has invested more than $600 million to modernize its operations since 2018, with a focus on improving recovery rates and environmental performance.

The recent formation of a new $4.5 billion joint venture with CATL demonstrates Sorowako's strategic position in the battery material supply chain.

This refining plant produces ferronickel for traditional stainless steel applications and increasingly produces mixed hydroxide precipitates for the battery sector.

This dual-market approach provides flexibility as demand patterns change between industrial transition applications and energy sectors.

Sorowako employs more than 3,000 workers and has implemented extensive community development programs that have become a benchmark for the mining sector in Indonesia, including education initiatives that have sponsored over 5,000 local students.

5. PT Huayue Nickel Cobalt Project (Indonesia)

Annual production: 42,000 tons of nickel (2023)

Owner: Huayou Cobalt

Type of mine: Greenfield

Location: Central Sulawesi, Indonesia

This operation highlights the growing importance of the nickel-cobalt project targeting battery material supply chains, positioning Indonesia as a key supplier for the electric vehicle industry.

The $1.2 billion investment by Huayou Cobalt in this HPAL facility marks a strategic shift towards producing battery-grade nickel.

This operation specifically targets the production of mixed hydroxide precipitates (MHP), an important precursor for cathode materials in electric vehicles, which command a premium price compared to traditional ferronickel products.

This project is part of Huayou's strategy, headquartered in China, to secure upstream supply for its battery materials business. The company noted that "vertical integration from mine to cathode material gives us crucial control over the supply chain amid an increasingly tight market."

Proximity to the Indonesia Morowali Industrial Park creates logistical advantages and synergy with other processing facilities, strengthening Central Sulawesi's emergence as a global battery material center.

6. Ambatovy Project (Madagascar)

Annual production: 40,950 tons of nickel (2023)

Owner: Sumitomo

Type of mine: Surface (brownfield)

Location: Atsinanana, Madagascar

Estimated closure: 2048

The Ambatovy project is the largest nickel mine in Africa and is a major industrial development for Madagascar, with projected long-term operational life extending to mid-century.

The operation uses HPAL technology to process laterite ore with an average grade of 0.8 percent nickel, demonstrating how technological innovation can make deposits with lower grades economically viable.

This $8 billion project is one of the largest industrial investments in the history of Madagascar.

The 185 km long pipeline owned by Ambatovy transports ore to the processing facility near the port of Toamasina, which is an innovative solution for the challenging transportation infrastructure in Madagascar.

This project produces nickel briquettes with a purity of 99.9 percent, which adds value compared to mines selling unprocessed ore.

The operation has faced criticism due to its environmental impact, although a wide-ranging biodiversity management plan includes protecting 4,900 hectares of conservation zones and the establishment of off-site conservation areas that protect several endangered species.

7. Cerro Matoso Mine (Colombia)

Annual production: 40,800 tons of nickel (2023)

Owner: South32

Type of mining: Surface

Location: Cordoba, Colombia

Estimated closure: 2036

As the largest nickel mine in South America, Cerro Matoso represents a significant diversification of global nickel supply outside the Asia-Pacific region, with substantial remaining operational life.

The operation has an integrated nickel-iron smelting that produces higher value products than raw ore, thus providing a competitive advantage over operations that must send materials abroad for processing.

This vertical integration has helped South32 maintain profitability despite the mine having been in continuous operation for over 35 years.

Cerro Matoso contains unique geological deposits with reserves of approximately 40 million tons at 1.2 percent nickel, which is sufficient to maintain current production levels until 2036.

This operation has become an important economic driver for the region of Cordoba in Colombia, contributing around $150 million annually to the local economy.

Rio Tuba Nickel Mining (Philippines)

Annual production: 39,200 tons of nickel (2023)

Owner: Nickel Asia

Type of mining: Surface (greenfield)

Location: Palawan, Philippines

Estimated closure: 2028

The Rio Tuba mine is one of the main nickel operations in the Philippines. However, its relatively short remaining operational life span indicates the need for resource expansion or planning for closure in the near future.

This operation employs around 1,800 workers, with a strong emphasis on local recruitment from the community surrounding Palawan.

The location on an ecologically sensitive island has required a careful environmental management system, including comprehensive rehabilitation protocols for mined areas.

Rio Tuba mainly exports medium-grade nickel ore (1.5-1.8% Ni) to China, where the ore undergoes further processing.

The remaining operational life of five years highlights the challenges faced by Philippine nickel mining, as accessible deposits are dwindling and regulatory frameworks limit new exploration.

9. Oktyabrsky Mine (Russia)

Annual production: 36,180 tons of nickel (2023)

Owner: MMC Norilsk Nickel

Type of mine: Underground (brownfield)

Location: Krasnoyarsk Krai, Russia

Estimated closure: 2052

Depth: 1,200m below surface, the 4th deepest nickel mine in the world

Logistics Arctic: transportation cost $220/ton (compared to global average $80/ton)

As the largest nickel producer in Russia, the Oktyabrsky Mine is a significant underground operation with substantial remaining reserves, as evidenced by an estimated remaining operational life of over 30 years.

The sulfide deposits at that mine produce nickel that is much purer (with a content of 12-15 percent) compared to laterite deposits (with a content of 1.5 percent) which are common in Southeast Asia.

According to the Norilsk engineers, "The sulfide deposit offers materials with significantly higher grades, although it requires more capital-intensive underground operations to access it."

Oktyabrsky has implemented automation to address mining challenges in Arctic conditions, with about 70 percent of drilling operations now automated following a comprehensive enhancement program in 2022.

This advancement in technology has improved safety metrics and operational efficiency.

The operation has addressed historical pollution issues through the "$3.6 billion Sulfur Program," including the installation of advanced scrubber systems that have reduced SO₂ emissions by 45 percent since 2021.

Although there have been improvements, the mine still faces environmental oversight from the regional authorities.

10. Pulau Pakal Mining (Indonesia)

Annual production: 35,970 tons of nickel (2023)

Owner: Indonesian Mining Industry

Type of mine: Surface (brownfield)

Location: North Maluku, Indonesia

Employment: 2,100 workers, 85 percent local workers

Export value: $720 million per year

Pulau Pakal Mine represents the increasing importance of Indonesia's position in the world nickel market, operating as a surface mining operation that significantly contributes to the country's nickel output.

The operation has an impressive waste-to-ore ratio of 1.5:1, lower than the industry average, which increases its operational efficiency.

The strategy to repurpose fallow land has minimized ecological disruption while increasing production capacity, according to the sustainability report from the Indonesian Mining Industry.

Pulau Pakal stands out among operations in Indonesia due to its implementation of renewable energy, with approximately 60 percent of its operations powered by a 15MW solar power plant.

This innovation reduces carbon footprint and operational costs in areas with inconsistent grid reliability.

The mine has recently partnered with Siemens to implement a digital twin that increases operational efficiency, which is expected to increase recovery rates by an additional 8-12 percent when operating at full capacity by the end of 2024.

(Tribunnews.com/Nuryanti)

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