Australia To Protect Its Nickel

By Kishori Krishnan Exclusive To Nickel Investing News

A crisis of sorts appears to be playing out in Australia, which is the third largest nickel producer, after Canada and Russia. Mining experts have woken up to the fact that Australia needs to protect against potential loss of market overseas.

“Two years ago, we had nickel resources in this country of 29 million tonnes in-ground,” said Poseidon Nickel‘s chief executive officer, David Singleton.

At the current market rate, that is well over half a trillion dollars worth of nickel already reserved in Australia…a prize well worth protecting and pursuing.

“In Western Australia alone, in 2008, nickel exports were worth A$4.2 billion and were responsible for employing 3,500 people directly,” he added.

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