Industry Trend Analysis - Nickel Growth To Pick Up - APR 2016
BMI View: Canada ' s nickel mine production growth will accelerate, supported by vast reserves and a solid project pipeline, o ver our forecast period to 2020.
Canada's nickel production will experience solid growth, as stabilising nickel prices in the second half of 2016 boost spending on the country's considerable project pipeline. We forecast Canada's nickel production to pick up, increasing from 240 thousand tonnes (kt) in 2016 to 289kt by 2020, averaging 4.2% annual growth. Following a slow-down in 2015 growth of 1.0%, due predominantly to major miner Glencore's temporary shutdown of the Sudbury smelter, Canada's nickel output will accelerate on the back of new projects. As such, Canada will remain a top five global nickel producer, supported by an estimated 2.9 million tonnes (mnt) of reserves, a stable business environment and attractive investment destination.
Major Firms To Dominate Sector
|Nickel Output To Bounce Back After Weak 2015|
|Canada - Nickel Ore & Refined Production (tonnes), Monthly|