Nickel is a crucial metal with greater corrosion resistance, less ductility, greater toughness and a range of special magnetic and electrical properties. Hence, it is used for various applications such as for making steel, alloys & super alloys, coins, stainless steel products, rechargeable batteries, coins, green-tinted glass, alnico magnets, electric guitar strings, nickel foam, as a binder in tungsten carbide and nickel mesh. Most of the nickel produced is consumed in the production of alloys such as nickel steel and nickel cast iron.
Nickel is extracted from ores through the process of roasting and reduction. Nickel ores are of two types: Sulphide ores and laterites ores. Sulphide ores include pentlandite and chalcopyrite. Laterite ore includes garnierite and nickeliferous limonite and of these two types garnierite is the richest source of nickel. Sulphide ore mining majorly employs underground mining technique while laterite ores are extracted through open pit mining technique. Nickel ores are purified after extraction using various processes, with mond process being the most famous.
Indonesia, Philippines and Australia are the largest nickel producing countries around the globe while Finland, Norway and Russia are the major producers in Europe. China, Brazil, Colombia and Canada are also contributing significantly to the global nickel production. Asia pacific is expected to dominate the global market for nickel mining.
The global nickel mining market is majorly driven by increasing industrialization along with infrastructure developments. Furthermore, increasing demand for steel and advancements in the mining technologies are contributing significantly to the nickel mining market. However, the major challenges faced by the industry are the high investment cost and environmental addition, decreasing demand for stainless steel may produce another challenge for the nickel mining issues associated with the mining activities. In market in future.ASDReport.com has a good collection of reports on nickel mining market covering various topics and products related to nickel mining like mines and quarries, nickel monoxide and much more.