A top official at mining firm Norilsk Nickel has claimed that China will become an important player in the sector in the future.

According to Norilsk's chief economist David Humphreys, meeting future demand for nickel will become increasingly difficult in the future as the Asian market, headed by China, plays a more dominant role in competing for nickel.

Speaking at the CRU Ninth World Stainless Steel Conference in Dusseldorf, Mr Humphreys said there is likely to be greater demand for nickel in the next ten to 20 years, while China may take a more important role in the production of the precious metal. Mr Humphreys pointed to recent moves by Chinese to directly invest in mining projects around the world.

Platinum group metals (pgms) are a major by-product of existing nickel mining in Canada and Russia and as more demand is placed on the nickel sector, Mr Humphreys believes it will be increasingly expensive for producers to meet that demand, reports Platts.


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