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World May Depend on Australia, Papua New Guinea for Nickel Supply

World May Depend on Australia, Papua New Guinea for Nickel Supply

metals_minerals

Industry Segment: Metals & Minerals | Word Count: 444 Words

PERTH, AUSTRALIA--August 26, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Indonesia's ban on nickel ore exports earlier this year helped to drive the price of the steelmaking raw material up at least 33%. With traders panicking at the prospect of dwindling global supplies, and the possibility of further sanctions placed upon Russia for its involvement in Ukraine (one of the affected companies was Norilsk Nickel Limited (MCX:GMKN) (Moscow), a global nickel heavyweight), the Oceania region could become the world's next major nickel supplier. More than 24% of known global reserves are located in the region.

Within this article: Information on nickel mining projects in Western Australia and Papua New Guinea, with estimated investments and production capacities.

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