Research Report on Southeast Asia Nickel Ore Industry 2023-2032
Mining is the activity of extracting economically valuable minerals or other substances from the ground in deposits with a high concentration of minerals. Mining extracts substances such as bauxite, coal, diamonds, iron, rare metals, lead, limestone, nickel, phosphorus, rock salt, tin, uranium and molybdenum.
Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.
Due to the degree of economic development, technology level and other reasons, the mineral resources in Southeast Asia are less explored. However, as far as the proven resources are concerned, Southeast Asia is rich in mineral resources, and the main minerals include: copper, gold, nickel, aluminum, tin, titanium, antimony, silver, potash, gypsum, barite and phosphorus, as well as iron, zinc, lead, chromium, manganese, cobalt, kaolin, etc.
As the fifth most common element on earth, nickel is about 3% in the earth, after iron, oxygen, silicon and magnesium. Nickel is a niche species of the non-ferrous metal family, previously most used in industries such as lithium-ion batteries and stainless steel. With the development of new energy vehicles, the importance of nickel is becoming more and more prominent - acting as a key material for lithium-ion batteries, while in ternary lithium batteries, nickel also provides higher energy density and greater storage capacity. Since the world's major producers of lithium-ion batteries, such as China, Japan and other lack of indigenous nickel resources, so they have to rely on imports.
Nickel resources in Southeast Asia are mainly concentrated in Indonesia, the Philippines and Myanmar.
Due to the low labor cost and abundant mineral resources in Southeast Asia, a large number of foreign companies have set up mining enterprises in Southeast Asia in recent years. CRI expects that with the development of manufacturing industry in Southeast Asia, more and more foreign companies will set up mining enterprises in Southeast Asia.
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