Nickel Stocks in Western Australia

Nickel gets a lot of love these days. Besides its applications as a base metal, it's discovering a rising popularity as an electric vehicle metal thanks to its role in battery technology.

Nickel is a vital component in lithium-ion batteries, which are seeing "hockey stick"-like production rates around the world as electric vehicles become more prevalent.

According to the Australian government, the country holds around 19.7 million tonnes in economic demonstrated reserves of the metal, making it a top nation for nickel reserves, as well as a top nation for nickel production with 180,000 tonnes produced in 2019.

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5 Top Australian Stocks in Mining

Interest in Australia as an investment hub is on the rise, and one area investors are looking toward is Australian stocks in the mining sector.

The country is viewed as a mining-friendly location, with many incentives and initiatives geared at helping companies move forward. But what are the top Australian stocks in the mining space? Below we run through the largest ASX-listed miners by market cap to give investors an idea of the landscape.

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Mining in Australia: Incentives and Initiatives

Australia is one of the world’s biggest mining hotspots, and that’s partially because the country’s government has given mining companies a good reason to explore down under: incentives.

While these incentives vary between the eight different Australian states and territories, they all help make the mining process easier and more beneficial for everyone involved. Companies are able to profit, and the government finds a strengthening economy.

For investors curious about what each area offers to mining companies, check out our list of Australia’s various incentives by state and territory.

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Copper Stocks in South Australia

The state of South Australia is home to the largest copper mine in the country Olympic Dam which is also the fourth largest copper deposit globally.

Olympic Dam, which is a polymetallic mine, is owned by BHP (ASX:BHP,LSE:BHP,NYSE:BHP), and produced about 171,000 tonnes of copper cathode in the 2019 to 2020 financial year. It's located within the Gawler Craton, which is described by the government of South Australia as one of the world's most significant deposits of copper, gold, silver and uranium.

South Australia is the state to beat when it comes to copper — while it's only home to three operational copper mines, it sits on Australia's largest share of copper reserves, accounting for 66 percent of the nation's reserves. Despite this high number, only 27 percent of Australian production is from South Australia.

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Copper in Australia

Despite its reputation as a major source of coal, iron ore, gold and uranium, Australia is also one of the premier copper-producing jurisdictions in the world, coming in at sixth in production behind the US — or fifth, or seventh — depending on who you ask and on what year.

In 2019, 960,000 metric tons of the red metal came from Australian mines. Notably, the country is home to the world’s fourth largest copper-producing mine, Olympic Dam.

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