DUBLIN--(BUSINESS WIRE)--The "Strategic Metals and Rare Earths Market Outlook - Q3 2018" report has been added to ResearchAndMarkets.com's offering.
Global nickel ore production growth will continue to accelerate in 2018 as major producer countries see a recovery in production levels following subdued output in 2017.
BMI forecasts world nickel production to grow by an annual average rate of 3.5% over 2018-2027, slightly lower than the 3.5% average rates achieved during 2008-2017, which were boosted by higher nickel prices experienced before the commodities slump and Indonesian growth before the ban in 2014.
Global annual nickel production should reach 2.9 million tonnes by 2027, which would continue Indonesia to be the largest global producer after having surpassed the Philippines in 2017. As a transcontinental country, Indonesia will also be the best performing one in terms of nickel production growth during 2018-2027, thanks in part to the moderation of its export ban.
Indonesia's nickel mining sector received a boost in 2017 following the decision in January of that year by the government to allow the export of unprocessed ore, under certain conditions.
BMI expects production growth in Indonesia to remain sustained in 2018 as the nickel industry continues to recover and forecasts of output in the country to reach 480,000 tonnes in 2018 up from 400,000 tonnes in 2017, a 20% year-on-year rise.
Argentina's mining to get boost under free-market reform policy of President Mauricio Macri with the financial help of IMF
Since taking office in late 2015, President Mauricio Macri has adopted measures to revive the country's mining industry by changing the federal structure, which scared mining investors away for years, as seven of the country's 23 jurisdictions have a full ban on the use of cyanide, based on environmental concerns One of the first ones was eliminating a 5% tax on mining and energy companies in February last year.
In June 2017, Argentina's federal government and the governors of 20 out of 23 provinces signed a long-awaited mining deal that harmonizes taxes and regulations, in a move aimed at jump-starting investment in the sector. The agreement which still needs approval from Congress, sets a 3% ceiling on royalties mining companies pay to provinces. A second provincial tax, capped at 1.5%, will be allocated to fund mining infrastructure.
With the new agreement, President Macri will create about 125,000 new mining jobs across the country. It is also expected to boost foreign investment in the sector to $25 billion by 2025, on top of the $3 billion already confirmed for the 2017-18 period.
President Macri also revoked a prohibition on foreign mining companies sending profits made in Argentina out of the country.
Key Topics Covered:
- Cobalt market China is No.1 and growing
- Indonesia leads world nickel production
- Lithium: the green revolution
- Overviews of listed strategic metals companies as at September 28, 2018
- Argentina Lithium & Energy
- Pacific Rim Cobalt
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