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Large earth-moving machinery is used to mine nickel from lateritic ore at varying depths below the surface. Sulfidic ore, the other form of nickel-containing ore, is typically found in conjunction with copper ore and is mined underground.
Through extractive metallurgy, nickel is recovered from lateritic ore. It is extracted from its ores using a traditional roasting technique that dries out the ore.
The next step is to remove the nickel oxide using a reduction furnace, which also significantly lowers the chemically bound water. resulting in a nickel form that is 75% pure.
The sulfidic ore must be processed using a separate technique to remove the nickel. The two most common techniques nowadays are flash and electric melting. The furnace, which already has preheated oxygen, is filled with the ore.
The Global nickel mining market accounted for $XX Billion in 2022 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2023 to 2030.
Nickel mining was introduced by Sprott Asset Management to capitalise on the rising demand for the essential component in batteries used in electric vehicles (EVs) and other green energy projects.
The Sprott Nickel Miners ETF (NIKL) is made to provide exposure to a number of international equities in the nickel sector. Sprott touts the offering as the first U.S.-listed ETF to expressly target nickel mining. The fund will concentrate on businesses like producers, developers, and explorers.
Nickel plays a crucial role in the rechargeable batteries used in electric and hybrid cars as well as in the storage of clean energy. To extend EV batteries’ usable range, automakers have started adding additional nickel to them.They think nickel producers are in a good position to profit from the massive investment needed to finance the energy shift.
The cost ratio for the ETF is 0.75 percent. The fund revealed that 49.6% of its interests were domiciled in Australia. Canada, Indonesia, and the Philippines account for the second, third, and fourth largest domicile breakdowns for the company’s remaining interests, with percentages of 19%, 11.3%, and 10.4%, respectively. This important mineral may see a nearly 20-fold increase in demand due to its application in EVs and battery storage.
