Mining
Nickel: Where Form Meets Function
While best known for its use in the five cent coin, nickel has far more strategic uses. Nickel can be alloyed with other metals to create truly extraordinary materials. In fact, more than half of all nickel consumed is used in stainless steel.
China’s stainless steel consumption has increased 1625% in the last 10 years, and is now 40% of global totals. Chinese stainless steel is now the largest demand driver for nickel worldwide, and there’s still a lot more room for growth in the industry.
Nickel’s diversified supply is expected to keep prices stable, so the savvy investor will look for low cost nickel projects in safe jurisdictions.
Mining
The Biggest Salt Producing Countries in 2023
In this graphic, we break down global salt production in 2023. China is currently the top producer, accounting for almost 20% of output.
The Biggest Salt Producing Countries in 2023
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Humanity has utilized salt for thousands of years, dating back to ancient civilizations. The U.S. alone consumes more than 48 million tonnes of salt per year.
In this graphic, we break down global salt production in 2023, measured in tonnes. These estimates come from the U.S. Geological Survey’s latest commodity report on salt.
Ample Supply
Salt is essential for human life, serving various purposes including food preservation, flavor enhancement, industrial processes, and health maintenance. The good news is that the world’s continental resources of salt are vast, and the salt content in the oceans is nearly unlimited.
China is currently the top producer of salt, with almost 20% of the output, followed by the U.S. (15%) and India (11%).
| Country | Production (tonnes) |
|---|---|
| 🇨🇳 China | 53,000,000 |
| 🇺🇸 United States | 42,000,000 |
| 🇮🇳 India | 30,000,000 |
| 🇩🇪 Germany | 15,000,000 |
| 🇦🇺 Australia | 14,000,000 |
| 🇨🇦 Canada | 12,000,000 |
| 🇨🇱 Chile | 9,200,000 |
| 🇲🇽 Mexico | 9,000,000 |
| 🇹🇷 Turkey | 9,000,000 |
| 🇷🇺 Russia | 7,000,000 |
| 🇧🇷 Brazil | 6,600,000 |
| Rest of world | 67,000,000 |
| Global total | 273,800,000 |
The global salt market was valued at $32.6 billion in 2022.
It’s projected to grow from $34.1 billion in 2023 to $48.6 billion by 2030, with a CAGR of 5.2% during the forecast period. This suggests a surprising amount of growth for what is one of the world’s oldest and most common commodities.
Facts About the U.S. Salt Industry
In the U.S., salt is produced by 25 companies, which operate 63 plants across 16 states.
The states that produce the most salt are Kansas, Louisiana, Michigan, New York, Ohio, Texas, and Utah. Altogether, these states account for 95% of domestic production.
The primary uses of salt in the U.S. are highway de-icing (41%), chemical production (38%), and food processing (10%).
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