Nickel

Globally, nickel is found in two main types of ore deposits: lateritic and sulfide deposits. Different extraction and processing methods are required to recover nickel from these deposits. In Türkiye, the nickel deposits located in Manisa-Gördes, Uşak-Banaz, Bolu-Mudurnu-Akçaalan, and Eskişehir-Mihalıççık-Yunus Emre are lateritic type deposits, while sulfide deposits are found in Bitlis-Pancarlı, Bursa-Orhaneli, Sivas-Divriği, and Hatay-Dörtyol.

Due to its chemical and physical properties, nickel has a wide range of applications, and its use continues to increase steadily. Around 70% of the nickel produced worldwide is used in the production of stainless steel. As an end-product material, it is widely utilized in construction, automotive, petrochemical, manufacturing, energy and renewable energy, as well as the electronics industry.

Nickel is an alloying metal. According to the World Nickel Institute, approximately 66% of the nickel produced is used in the manufacture of corrosion-resistant alloys, primarily in stainless steel production. Nickel is also alloyed with copper, chromium, aluminum, lead, cobalt, silver, and gold. Owing to its durability at both very high and very low temperatures, nickel is used in the production of engine components such as gas turbines and jet engines. Today, nickel is used in approximately 300,000 different products, including those in the transportation, aviation, maritime, and construction sectors, as well as in architectural applications, medical devices, and coin production.

Total global nickel metal reserves amount to 130 million tons. Approximately 40% of these reserves are located in sulfide deposits, while 60% are found in lateritic deposits. The most significant known nickel deposits are located in Australia, Brazil, Russia, New Caledonia, Cuba, the Philippines, and Indonesia (USGS, 2025; World Mining Data, 2020).

According to the 2024 finalized data published in the report of the United States Geological Survey (USGS, Mineral Commodity Summaries, 2025), among the top five countries, Indonesia holds 55 million tons of nickel metal reserves, Australia 24 million tons, Brazil 16 million tons, Russia 8.3 million tons, and New Caledonia 7.1 million tons (USGS, 2025).

Recent global nickel production trends indicate a continuous increase in output.

Total world nickel production reached 3.7 million tons in 2024.

According to the finalized 2024 data presented in the 2025 report of the United States Geological Survey (USGS), the leading nickel producer was Indonesia with 2,200,000 tons, followed by Philippines with 330,000 tons and Russia with 210,000 tons of nickel production. They were followed by Canada (190,000 tons), China (120,000 tons), New Caledonia (110,000 tons), Australia (110,000 tons), Brazil (77,000 tons), and United States (8,000 tons) (USGS, 2025).

With its rapidly developing industry and economy, China has become an important producer and consumer of nickel in recent years.

Economically viable and mineable nickel deposits in Türkiye are located at Manisa-Çaldağ, Manisa-Gördes, and Eskişehir-Mihalıççık-Yunus Emre. Ores in other regions are currently not economically feasible to operate due to their low grades. In particular, private sector initiatives that began with the rapid rise in nickel prices during the 2000s brought renewed momentum to nickel mining.

Türkiye's run-of-mine (ROM) nickel production has experienced a significant decline over the last three years. Production decreased from approximately 1.6 million tonnes in 2023 to 840 thousand tonnes in 2024, representing a reduction of nearly 48%. This downward trend continued in 2025, with production falling further to approximately 182 thousand tonnes, corresponding to an additional 78% decrease compared to 2024. Overall, nickel ROM production declined by nearly 89% between 2023 and 2025. The sharp decline in production highlights a significant contraction in Türkiye's nickel mining output over the 2023–2025 period. The underlying causes may include operational, geological, market-related, or company-specific factors and should be assessed in the context of industry developments.

The average Nickel price for January–December 2019 remained below USD 15,000 per ton and declined further to around USD 10,000 per ton in 2020. In parallel with the rise in commodity prices following the COVID-19 pandemic, nickel prices increased during 2021–2022 and exceeded USD 25,000 per ton.

Nickel prices began to decline in 2023, and in 2024 nickel was traded at around USD 17,400 per ton. The average nickel price in 2025 was approximately USD 15,477 per ton (London Metal Exchange, 2025).

In the context of increasing electricity consumption and rising demand for electric vehicles, Nickel is expected to remain an important metal. This outlook is further strengthened when examining the critical raw materials strategies of the European Union and the United States.

                                                                                               Revision Date: 30.06.2026