Nickel and platinum group metals (PGMs) are increasingly positioned at the center of the global shift toward cleaner energy systems and advanced industrial technologies. These metals support both battery manufacturing and emerging hydrogen technologies, making them essential components of the modern energy economy.
Nickel has become one of the most important battery metals of the twenty-first century, particularly in high-energy lithium-ion battery chemistries such as nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminium (NCA). These battery technologies rely on nickel to deliver higher energy density and longer driving ranges for electric vehicles.
At the same time, platinum group metals—especially platinum, palladium and rhodium—play a crucial role in catalytic converters, hydrogen fuel cells, electrolysers, and a wide range of advanced industrial processes. As electrification accelerates globally, demand for both nickel and PGMs is expected to grow rapidly over the next two decades.
Rapid Growth in Global Demand for Battery and Hydrogen Metals
Market forecasts highlight the scale of this transformation. Nickel demand tied specifically to battery manufacturing is projected to increase from approximately 350,000 tonnes in 2022 to more than 1.5 million tonnes annually by 2035. This surge is driven primarily by the rapid expansion of electric vehicle production and energy storage systems.
Meanwhile, demand for platinum group metals may rise significantly as hydrogen fuel cell technologies and electrolyser capacity expand across Europe and Asia. Despite this strong demand outlook, the global supply chain for these metals remains highly concentrated. Indonesia currently dominates nickel production, accounting for more than half of global output, while South Africa and Russia control a majority of platinum group metal supply. This concentration has raised concerns among industrial economies about supply chain resilience and geopolitical risk.
Junior Explorers Lead the Search for New Nickel and PGM Resources
In response to these concerns, exploration activity targeting new nickel and PGM deposits has intensified across several geological provinces in Africa and Europe. Junior mining companies are playing a central role in this exploration wave. These smaller firms specialize in early-stage geological research, drilling campaigns, and resource discovery, often identifying mineral systems that later become major mining operations. Across the two continents, twenty emerging discoveries and exploration districts illustrate how the global landscape for nickel and platinum group metals is evolving.
South Africa’s Zeb Nickel Project Highlights a Major Discovery
One of the most prominent exploration developments is the Zeb Nickel project in South Africa’s Limpopo province. The project lies within a geological environment characterized by large ultramafic intrusions, rock formations known to host sulphide mineralisation rich in nickel, copper, and platinum group metals.
Recent exploration programs have identified extensive mineralised zones stretching across several kilometres. Drilling has revealed thick intervals of disseminated sulphide mineralisation containing nickel grades of roughly 0.5% to 0.7% Ni, accompanied by copper and PGMs. Although these grades are lower than those found in some high-grade sulphide deposits, the sheer scale of the mineralised system suggests the possibility of a large open-pit mining operation producing multiple metals. The project’s location near existing mining infrastructure also increases its potential development attractiveness.
Bushveld Complex Remains the World’s PGM Heartland
South Africa continues to dominate global platinum group metal production thanks to the Bushveld Igneous Complex, which contains approximately 70% of the world’s known platinum reserves. Many long-established mines in this region are gradually moving into deeper and more technically challenging sections of their ore bodies.
As a result, exploration companies are increasingly searching for satellite deposits and overlooked mineral zones within the complex. Several junior explorers have recently identified new sulphide-rich layers within the northern limb of the Bushveld Complex. Early drilling results have reported combined platinum and palladium grades between 3 and 5 grams per tonne, indicating potentially economic mineralisation.
Zimbabwe’s Great Dyke Expands the PGM Exploration Frontier
Beyond South Africa, Zimbabwe’s Great Dyke represents another major geological province rich in nickel and platinum group metals. This enormous 550-kilometre-long ultramafic geological structure already hosts several large PGM mining operations. Exploration programs are now targeting previously underexplored segments of the dyke. Recent drilling campaigns have identified new sulphide mineralisation associated with ultramafic intrusions, suggesting that additional deposits could be discovered along the corridor.
Namibia and East Africa Enter the Nickel Exploration Spotlight
In Namibia, exploration companies are investigating nickel-bearing sulphide systems associated with mafic intrusions. Drilling campaigns have confirmed disseminated sulphide mineralisation within gabbroic host rocks, containing both nickel and copper.
Although these deposits differ geologically from the layered intrusions of South Africa, they may still support commercial mining operations if sufficient tonnage is defined. East Africa is emerging as an important new nickel exploration frontier.
In Tanzania, geological surveys have identified nickel sulphide mineralisation within ancient volcanic belts. Several drill holes have intersected nickel grades exceeding 1% Ni, suggesting the presence of high-grade sulphide systems similar to those found in established mining regions such as Canada and Australia.
These discoveries are particularly important because nickel sulphide deposits are ideally suited for producing battery-grade nickel. Unlike laterite deposits—which require energy-intensive processing technologies—sulphide ores can often be processed through conventional flotation and smelting methods, making them more attractive for battery supply chains.
Europe Expands Nickel Exploration Across the Fennoscandian Shield
Across Northern Europe, nickel exploration is gaining momentum within the Fennoscandian Shield, one of the continent’s most important geological provinces for base metals. Finland remains a central hub for this activity. Several junior exploration companies have discovered nickel-copper sulphide mineralisation within mafic intrusions in northern Finland.
Drilling programs have intersected sulphide mineralisation containing nickel grades between 0.3% and 0.8% Ni, often accompanied by copper and cobalt. Although these projects remain in early exploration stages, their geological characteristics resemble existing producing nickel mines within the region.
Sweden and Norway Reveal New Nickel Potential
Exploration activity is also expanding in Sweden’s Skellefte mining district, a region historically known for base metal production including copper and zinc. Recent drilling campaigns have identified nickel-bearing sulphide zones within volcanic host rocks, suggesting the potential for polymetallic deposits containing nickel, copper, and zinc.
In Norway, modern exploration technologies are revealing mineral systems that were previously hidden beneath glacial sediments and complex geological cover. Several exploration programs in southern Norway have reported nickel-bearing sulphide mineralisation within mafic intrusions, while geophysical surveys indicate the presence of multiple potential sulphide bodies at depth.
Laterite Nickel Exploration Expands in the Balkans
In Southeastern Europe, exploration activity targeting nickel resources has focused mainly on laterite deposits. Countries such as Serbia and neighbouring Balkan states host numerous laterite systems formed through the weathering of ultramafic rocks.
While laterite deposits typically contain lower nickel grades than sulphide systems, they can be extremely large, allowing mining companies to operate high-tonnage open-pit operations. Recent exploration programs across the region have identified laterite deposits with nickel grades ranging from 1% to 1.5% Ni, consistent with many producing laterite mines worldwide.
New Technologies Transform Mineral Exploration
Modern mineral exploration is being transformed by technological innovation. Advances in satellite mapping, airborne geophysics, and geochemical analysis allow geologists to identify mineral systems hidden beneath sedimentary cover or glacial deposits.
In addition, artificial intelligence and machine learning algorithms are increasingly used to analyse large geological datasets. By detecting subtle geological patterns, these technologies help exploration companies identify promising targets that may have been overlooked using traditional exploration methods.
Europe Seeks Secure Supplies of Energy Transition Metals
The rising demand for nickel and platinum group metals is closely linked to Europe’s industrial and climate strategies. Battery manufacturing capacity across the continent is expanding rapidly, with large gigafactories under development in Germany, Sweden, Hungary, and Poland.
At the same time, Europe is investing heavily in hydrogen technologies, with electrolyser capacity expected to grow significantly in the coming decade. These developments are intensifying the need for secure and diversified supplies of critical raw materials.
While Europe will continue to rely on imports for a large portion of its nickel and PGM consumption, new discoveries within the continent could help reduce supply risks and strengthen industrial resilience.
Exploration Today Shapes Tomorrow’s Metal Supply
For junior mining companies, exploring for nickel and platinum group metals presents both significant opportunities and considerable challenges. Developing these deposits often requires substantial capital investment and complex infrastructure, particularly in remote regions. The long-term outlook for these metals remains highly positive.
As electric vehicles, renewable energy systems, and hydrogen technologies continue to expand, demand for nickel and platinum group metals is expected to grow steadily. The exploration discoveries being made today across Africa’s ancient cratons and Europe’s shield provinces may therefore become critical components of the global energy transition supply chain. These projects represent more than isolated mineral prospects—they are the early foundations of a new global resource cycle that will shape how energy transition metals are sourced in the decades ahead.
