Nickel: Stocks
Land reserves, plus billions of tonnes on the seabed
What this tab covers How much is left and how much is held. For minerals and energy: reserves, current output, years of supply and recycling for the top five countries. For farm commodities: production, ending stocks and stocks-to-use for the top five producers (USDA, October 2026). It also covers inventories and stockpiles.Top five countries: reserves, output and years of supply
| Country | Reserves kt Ni content | Current output kt Ni content (mine, 2025e) | Years of supply | Recycling |
|---|---|---|---|---|
| Indonesia | 62,000 | 2,600 | 24 | n/a |
| Philippines | 4,800 | 270 | 18 | n/a |
| Russia | 8,300 | 200 | 42 | n/a |
| Canada | 2,200 | 140 | 16 | n/a |
| New Caledonia (France) | 7,100 | 140 | 51 | n/a |
Recycling
No global end-of-life rate is published in the sources used. The EU end-of-life recycling input rate is 16% (EU CRM 2023). In the US, nickel recovered from scrap, mostly stainless, equalled about 60% of apparent consumption in 2025 (USGS). Australia holds the second-largest reserves (25 Mt, 11 Mt JORC) but mined only 45 kt in 2025 after closures, implying over 500 years at that rate.
USGS reserves exceed 140 million tonnes, about 36 years of 2025 output, and Indonesia holds 62 million tonnes of them. Resources exceed 350 million tonnes, and seabed nodules and crusts may hold about 4.5 billion more. Recycling runs mainly through stainless-steel scrap: in the US, scrap met about 60% of apparent consumption in 2025. The EU end-of-life recycling input rate is lower, at 16%. Surpluses have swelled inventories: the International Nickel Study Group estimates a market surplus every year since 2022, reaching 182,000 tonnes in 2024.
Reserves
World reserves 140,000,000 metric tons, Ni content (USGS reports more than 140,000,000) Reserve life 36 years at 2025 production Indonesia 44% Australia 18% Brazil 11% Russia 6% New Caledonia 5% Largest reserve holders, share of world reserves (USGS MCS 2026). Reserves are what is economic to extract today, not what exists.Recycling
End-of-life recycling input rate in the EU: 16% of demand met from post-consumer scrap (EU CRM study 2023).Most secondary nickel comes from stainless-steel scrap, and in 2025 nickel recovered from scrap met about 60% of US apparent consumption.