Nickel · Ni

The full value chain as one map - the facilities strata sees at each stage, shaded by how completely we cover it. Strong stages carry a named facility roster (click to expand); partial stages have a country / trade / demand-side proxy; thin stages are the gaps.

1. Mine

   Strong· 497 facilities

   Operating plants + mines (operators, reserves, grades)

   Lockerby Mine · Munali · Kettara Mines · Garson Mine

   • 🇨🇦Lockerby MineCrean Hill Mine
   • 🇿🇲MunaliMunali
   • 🇲🇦Kettara MinesPyrrhotine De Kettara, Soc D'Exploitation De La
   • 🇨🇦Garson MineGarson
   • 🇳🇨Sln Nickel MineDoniambo Smelter
   • 🇺🇸Gibson MineGlen York And R L Norton
   • 🇿🇦Spring RefineryImpala Platinum Ltd.
   • 🇺🇸Huntington Alloys Rolling MillSpecial Metals Corporation
   • 🇨🇦Copper Cliff North MineClarabelle No. 2 Open Pit
   • 🇨🇦MontcalmMontcalm
2. Concentrate

   Strong· 29 facilities

   Concentrator facilities
3. Refining / Smelting

   Strong· 170 facilities

   Smelter / refinery facilities, owners + China-share concentration

   AMG Vanadium - Cambridge, Ohio · AMG Vanadium - Zanesville, Ohio · ASPA - Advanced Sludge Processing by Aurubis (hydrometallurgical plant, Beerse) · Althofen ferroalloy plant (Treibach works) - ferrovanadium / ferromolybdenum / FeNiMo line

   • 🇺🇸AMG Vanadium - Cambridge, OhioAMG Vanadium LLCferrovanadium (FeV) + ferronickel-molybdenum (FeNiMo) from spent-catalyst recycling
   • 🇺🇸AMG Vanadium - Zanesville, OhioAMG Vanadium LLCvanadium (contained, produced as ferrovanadium/FeNiMo) from spent-catalyst recycling; also ~35,000 t/yr spent-catalyst feedstock throughput
   • 🇧🇪ASPA - Advanced Sludge Processing by Aurubis (hydrometallurgical plant, Beerse)Aurubis AG (Germany)tin and precious metals recovered from anode sludge (capacity figure not disclosed; recorded as capex)
   • 🇦🇹Althofen ferroalloy plant (Treibach works) - ferrovanadium / ferromolybdenum / FeNiMo lineTreibacher Industrie AGferrovanadium (FeV)
   • 🇲🇬Ambatovy Minerals S.A. Ambatovy Pressure Acid Leach PlantDynatec Madagascar S.A. (DMSA)operating
   • 🇮🇩Angel Nickel RKEFNickel Industries Limitednickel pig iron (NPI), exported
   • 🇿🇦Anglo American Platinum Ltd. Rustenburg Base Metals RefinersValterra Platinum Limitedoperating
   • 🇿🇦Anglo American Platinum smelting and refining operations (Rustenburg/Waterval and Polokwane smelters, Precious Metals Refinery, Rustenburg Base Metals Refinery)Anglo American plcrefined PGMs (platinum, palladium, rhodium, other PGMs + gold) and nickel
   • 🇿🇦Anglo Converter Plant / Anglo (Amplats) Converter Process (ACP), Rustenburg (Waterval site)Valterra Platinum Limitedfurnace matte converted (throughput); also produces sulphuric acid from SO2 abatement
   • 🇧🇪Aurubis Beerse (secondary raw material recycling throughput)Aurubis AG (Germany)secondary raw materials recycled (feed throughput; <1% from hardhead)
   • 🇧🇪Aurubis Beerse (secondary tin / multimetal recycling smelter)Aurubis AG (Germany)refined tin (M-brand / MC ingots, LME-registered)
   • 🇩🇪Aurubis Lunen (sister secondary copper smelter / multimetal recycling site)Aurubis AG (Germany)copper cathodes (refined)
4. Chemical Processing

   Strong· 236 facilities

   Chemical-processing plants (precursor, separation)

   ACCUREC-Recycling GmbH Krefeld Lithium Battery Recycling / Lithium Recovery Plant · ASPA - Advanced Sludge Processing by Aurubis (hydrometallurgical plant, Beerse) · Althofen Recycling Plant 2 (RC2) - spent-catalyst recycling (V/Ni/Mo recovery) · Ambatovy Minerals S.A. Ambatovy Pressure Acid Leach Plant

   • 🇩🇪ACCUREC-Recycling GmbH Krefeld Lithium Battery Recycling / Lithium Recovery PlantACCUREC-Recycling GmbHoperating
   • 🇧🇪ASPA - Advanced Sludge Processing by Aurubis (hydrometallurgical plant, Beerse)Aurubis AG (Germany)tin and precious metals recovered from anode sludge (capacity figure not disclosed; recorded as capex)
   • 🇦🇹Althofen Recycling Plant 2 (RC2) - spent-catalyst recycling (V/Ni/Mo recovery)Treibacher Industrie AGrecovered metals (nickel + vanadium + molybdenum, combined)
   • 🇲🇬Ambatovy Minerals S.A. Ambatovy Pressure Acid Leach PlantDynatec Madagascar S.A. (DMSA)operating
   • 🇺🇸American Battery Technology Company Lithium-Ion Battery Recycling FacilityAmerican Battery Technology Companyoperating
   • 🇿🇦Anglo American Platinum Ltd. Rustenburg Base Metals RefinersValterra Platinum Limitedoperating
   • 🇺🇸Ascend Elements Base 1Ascend Elementsoperating
   • 🇺🇸Ascend Elements Novi CAM finishing / cathode sintering siteAscend Elementscathode active material (CAM), NMC cathode material
   • 🇺🇸Ascend Elements R&D Center / pilot pCAM facilityAscend Elements, Inc.NMC precursor cathode active material (pCAM)
   • 🇧🇪Aurubis Beerse (secondary tin / multimetal recycling smelter)Aurubis AG (Germany)refined tin (M-brand / MC ingots, LME-registered)
   • 🇨🇳BASF Shanshan Battery Materials Co., Ltd. Changsha BaseBASF Shanshan Battery Materials Co., Ltd.cathode active materials (CAM), precursor cathode active materials (PCAM)
   • 🇯🇵BASF TODA Battery Materials LLC Onoda Site / Onoda PlantBASF TODA Battery Materials LLCNCA cathode material, NCM cathode material
5. Fabrication / semis

   Strong· 64 facilities

   First-use manufacturing census (see Supply tab)

   Tsingshan Holding (China domestic bases) · Fujian Tsingtuo (Qingtuo) - Fu'an base · TISCO (Taiyuan Iron & Steel) · Baosteel Desheng (Fujian Desheng)

   • 🇨🇳Tsingshan Holding (China domestic bases)TsingshanCrude stainless (300/200/400-series); ~10,000 kt group melt
   • 🇨🇳Fujian Tsingtuo (Qingtuo) - Fu'an baseTsingshanCrude stainless melt
   • 🇨🇳TISCO (Taiyuan Iron & Steel)BaowuCrude stainless melt
   • 🇨🇳Baosteel Desheng (Fujian Desheng)BaowuCrude stainless melt; 3,060 kt (2022 AOD filing; roster cites ~9,000, discrepancy flagged)
   • 🇮🇩Tsingshan Stainless - IMIP MorowaliTsingshanCrude stainless melt; 3,000 kt filed (range 3,000-4,000)
   • 🇮🇳Jindal Stainless (Jajpur + Hisar)Jindal StainlessCrude stainless melt; 2,900 kt (->4,200 w/ Indonesia)
   • 🇨🇳Baosteel Stainless (Baoshan + Ningbo Baoxin)BaowuCrude stainless melt
   • 🇨🇳Beihai Chengde / Guangxi Beibu Gulf New MaterialChengdeCrude stainless melt
   • 🇨🇳Guangdong Guangqing Metal TechnologyTsingshanCrude stainless melt (2,000 kt) + alloy (0.3)
   • 🇰🇷POSCO Stainless (Pohang)POSCOCrude stainless melt
   • 🇮🇩POSCO-Tsingshan Morowali JVPOSCO + TsingshanCrude stainless melt (planned, Sep-2025)
   • 🇯🇵Nippon Steel Stainless (NSSC)Nippon SteelCrude stainless melt
   • 🇫🇮Outokumpu TornioOutokumpuCrude stainless melt
   • 🇨🇳JISCO (Jiuquan Iron & Steel)JiuquanCrude stainless melt
   • 🇨🇳Jiangsu Delong Nickel (China domestic)DelongCrude stainless melt
   • 🇺🇸North American Stainless (NAS)AcerinoxCrude stainless melt; 1,000 kt (+200 expansion)
   • 🇧🇪Aperam GenkAperamCrude stainless melt
   • 🇧🇪Aperam ChateletAperamCrude stainless melt
   • 🇹🇼YUSCO (Yieh United Steel)Yieh/E-UnitedCrude stainless melt
   • 🇹🇼Walsin Lihwa (stainless)Walsin LihwaCrude stainless melt (long)
   • 🇮🇹Acciai Speciali Terni (AST)ArvediCrude stainless melt
   • 🇺🇸Outokumpu CalvertOutokumpuCrude stainless melt
   • 🇧🇷Aperam TimoteoAperamCrude stainless melt
   • 🇲🇾Bahru StainlessWorldwide Stainless (ex-Acerinox)Cold-roll/finishing
   • 🇨🇳Zhejiang Yongjin Metal TechnologyYongjinCold-roll/finishing (360 kt CR) + new melt line

   + 39 more
6. Recycling / secondary

   Strong· 78 facilities

   Secondary-supply plants recovering this commodity from scrap or spent product

   ACCUREC-Recycling GmbH Krefeld Lithium Battery Recycling / Lithium Recovery Plant · AMG Vanadium - Cambridge, Ohio · AMG Vanadium - Zanesville, Ohio · Althofen Recycling Plant 2 (RC2) - spent-catalyst recycling (V/Ni/Mo recovery)

   • 🇩🇪ACCUREC-Recycling GmbH Krefeld Lithium Battery Recycling / Lithium Recovery PlantACCUREC-Recycling GmbHoperating
   • 🇺🇸AMG Vanadium - Cambridge, OhioAMG Vanadium LLCferrovanadium (FeV) + ferronickel-molybdenum (FeNiMo) from spent-catalyst recycling
   • 🇺🇸AMG Vanadium - Zanesville, OhioAMG Vanadium LLCvanadium (contained, produced as ferrovanadium/FeNiMo) from spent-catalyst recycling; also ~35,000 t/yr spent-catalyst feedstock throughput
   • 🇦🇹Althofen Recycling Plant 2 (RC2) - spent-catalyst recycling (V/Ni/Mo recovery)Treibacher Industrie AGrecovered metals (nickel + vanadium + molybdenum, combined)
   • 🇺🇸American Battery Technology Company Lithium-Ion Battery Recycling FacilityAmerican Battery Technology Companyoperating
   • 🇺🇸Ascend Elements Base 1Ascend Elementsoperating
   • 🇩🇪BASF Battery Materials Schwarzheide Black Mass PlantBASF Schwarzheide GmbHoperating
7. Components

   Strong· 289 facilities

   Cathode / anode / cell / magnet plants

   ACC - Automotive Cells Company ACC Nersac Pilot Line / Industrial Excellence Center · Ascend Elements Novi CAM finishing / cathode sintering site · Ascend Elements R&D Center / pilot pCAM facility · Automotive Cells Company ACC Billy-Berclau Douvrin gigafactory

   • 🇫🇷ACC - Automotive Cells Company ACC Nersac Pilot Line / Industrial Excellence CenterAutomotive Cells Company (ACC)lithium-ion EV battery cells, prototype EV batteries
   • 🇺🇸Ascend Elements Novi CAM finishing / cathode sintering siteAscend Elementscathode active material (CAM), NMC cathode material
   • 🇺🇸Ascend Elements R&D Center / pilot pCAM facilityAscend Elements, Inc.NMC precursor cathode active material (pCAM)
   • 🇫🇷Automotive Cells Company ACC Billy-Berclau Douvrin gigafactoryACC - Automotive Cells Companylithium-ion battery cells, battery modules
   • 🇺🇸BASF Battle Creek cathode active materialBASF Toda America LLCcathode active materials for lithium-ion batteries, NCM cathode materials
   • 🇺🇸BASF Battle Creek cathode active materials siteBASFCathode active materials (CAM) for lithium-ion batteries, including NCM, NCA, and LCO products
   • 🇩🇪BASF Schwarzheide GmbH Cathode active materials production plant, BASF Schwarzheide siteBASF Battery Materials and Recycling Schwarzheide GmbHHigh-performance cathode active materials (CAM) for lithium-ion batteries / electric vehicles
   • 🇩🇪BASF Schwarzheide cathode active materialBASF Schwarzheide GmbHCathode active materials (CAM) for lithium-ion batteries, NCM cathode active materials
   • 🇨🇳BASF Shanshan Battery Materials Co., Ltd. Changsha BaseBASF Shanshan Battery Materials Co., Ltd.cathode active materials (CAM), precursor cathode active materials (PCAM)
   • 🇯🇵BASF TODA Battery Materials LLC Kitakyushu Site / Kitakyushu PlantBASF TODA Battery Materials LLCNCA cathode active material, NCM cathode active material
   • 🇯🇵BASF TODA Battery Materials LLC Onoda Site / Onoda PlantBASF TODA Battery Materials LLCNCA cathode material, NCM cathode material
   • 🇺🇸BASF Toda America LLC BASF Toda America cathode active materials facilityBASF Toda America LLCNCM cathode active materials, NCA cathode active materials
8. Manufacturing

   Partial

   Deployment / demand side only - not a supply census
9. Final Technology

   Strong

   Top end-use technologies by projected mineral demand · IEA Critical Minerals Dataset (CMO 2025)

   Other uses · Electric vehicles · Other low-carbon power · Grid battery storage

   • Other uses3 Mt · APS 2040
   • Electric vehicles2.5 Mt · APS 2040
   • Other low-carbon power381 kt · APS 2040
   • Grid battery storage238 kt · APS 2040
   • Electrolyzer32 kt · APS 2040
   • Solar PV1 kt · APS 2040

Both ends connect: the demand-intensity seam (GCAM x strata intensities) maps final-technology demand back to mineral demand - the standing gap is the supply-side middle (components + manufacturing facility censuses).

Stage counts are not mutually exclusive - a facility spanning several stages is counted under each. The Mine count is the operating roster; the Sankey below counts the full components census, so the two can differ by a few facilities.

The value chain as one uniform contract: every commodity carries the same canonical stages, each flagged covered / partial / gap by the authoritative data strata holds. Copper is the reference fill (ICSG World Copper Factbook); others fill from their own authoritative sources (nickel from the INSG World Nickel Factbook + USGS MCS), gaps surfaced.

1. ExtractionCovered

   Mine / raw production + reserves

2. RefiningCoveredINSG World Nickel Factbook 2024

   Primary production: Indonesia 42%, China 29% - Asia 76% (2023)

   Indonesia 42%China 29%Japan 4.4%Russia 3.7%Canada 3.3%

   Predominantly Class II (NPI / ferronickel) from Indonesian laterite RKEF; battery-grade Class I sulphate (HPAL) a growing minority.

3. First use (manufacturing)Partial

   64-plant first-use census: stainless 32, superalloy 18, alloy 10, plating 4 (capacity = stainless melt, not contained Ni)

4. UseCoveredINSG World Nickel Factbook 2024

   Stainless steel ~65%, Batteries ~16% of primary nickel use (2023)

   Stainless steel 65%Batteries 16%Alloys, plating & other 19%

   Battery use (~16%) skews to high-nickel cathodes (NMC / NCA; LFP is nickel-free). Sector split = INSG estimate, from projections incl. Benchmark / SMM / Antaike.

5. RecyclingCoveredUSGS Mineral Commodity Summaries 2025

   ~54% of US apparent consumption recovered from scrap (2024)

   Mostly the nickel content of stainless-steel scrap (US basis; USGS MCS).

The whole topology as one flow - each stage sized by how many facilities strata maps there, with the leading companies ranked by captured contained-metal capacity, ending at projected end-use demand. The strip below shows how concentrated the captured capacity is and who controls it.

Bands are sized by the number of facilities strata maps at each stage; the ribbons trace the canonical value chain, not measured shipments between firms (the customs-observed company shipments below are the only inter-firm evidence, and cover only the reporter countries strata archives). Companies are ranked by captured contained-metal capacity where an official source states it. Captured-capacity totals (including the strip above) sum across stages from mine to refining, so they count the same metal more than once and reflect a partial, public-source census - not a clean single-stage refining figure. Final Technology shows projected mineral demand by end-use (IEA Critical Minerals Dataset (CMO 2025)).

Stage-typed customs shipments observed by Colombia DIAN export declaration bases - declared company-to-company records; the product's value-chain stage is typed from its HS code, and no processing role is inferred for the receiving company. Contained tonnes are MODELED (net weight x a representative metal-content coefficient per HS code), not declared at source.