Nickel resources and reserves explained
The Nickel Institute has updated its factsheet on nickel resources and reserves with the latest data. Available for download from the Nickel Institute website.
The terms “resources” and “reserves” are used when we refer to the availability of nickel and other metals. “Resources” describe potential future ore deposits which still need to be explored. “Reserves” occur when the exploration quantifies and assesses that the ore deposit can be mined economically. Today, there are 95 million tons of known nickel reserves, as well as 350 million tons of on-shore nickel resources and 300 million tons of potential off-shore resources. Companies are continuously adding new ore deposits to both resources and reserves. To this can be added around 40 million tons of nickel which is currently in use, and which will eventually become available for recycling. At current production levels of 2.7million tons per year we can say that there's enough nickel for current and future generations.