Nickel in Greece
- Total use of nickel in Greece in 2002 was around 1.8 kte (primary and recycled nickel units) which
represented less than 0.5% of EU demand. This demand is satisfied through a combination of Greek production
of refined nickel and recycling of existing nickel.
Nickel in Greece Value-added
(Euro Million)Employment Direct nickel industry/recycling 125 2,300 “First Use” 25 600 Intermediaries 80 1,600 “End Use” 55 1,000 Total 285 5,500 - Production of primary nickel (Nickel Units) in Greece is significant, amounting to some 19.2 kte in 2002 at the Larco refinery at Larymna. Nickel is also mined in Greece by Larco at Evia, Agios and Kastoria. Mining in 2002 amounted to 22.7 kte.
- A small proportion of Greek demand is satisfied through recycling of scrap (particularly stainless steel scrap) to produce re-usable nickel (0.3 kte).
- Significant quantities of refined nickel (17.7 kte) are exported from Greece, valued at over Euro 100 million.
- The nickel industry is an important one in Greece as it also has a significant impact on the wider economy through its value-chain. Through its critical use in nickel-containing alloys, it has a major impact on industries such as stainless steel. In turn, the use of nickel-containing alloys in many important products means that the impact of nickel is substantial in many end-use markets.
- As a consequence, the total value-added in Greece by nickel and its value-chain is estimated to be nearly Euro 285 million.
- Moreover, the direct nickel industry and the industries in its value chain that are critically dependent upon it, employ a significant number of people. Total employment in Greece in the direct nickel industry, "First Use" industries and Intermediaries, and "End Use" industries that are dependent on nickel is estimated to be nearly 4,000. Some 1,500 additional jobs have been created in the economy through income and supplier "multiplier" effects and capital expenditure effects. Hence around 5,500 jobs are "dependent" on nickel.
- The industry and its value-chain also contribute to the Greek economy through investment. Total research
and development in Greece by the direct nickel industry and industries dependent on nickel, is estimated to
be Euro 6 million per annum. Annual capital expenditure by these sectors is estimated to be Euro 30 million
and total capital employed is estimated to be Euro 0.5 billion.
- The nickel industry and its value chain also account for substantial tax revenues. Total taxes (on employment and sales) paid by the direct nickel industry and industries dependent on nickel are estimated to be Euro 75 million per annum. This excludes corporate taxes.
Notes
In 2003 ENiG commissioned The Weinberg Group to conduct a comprehensive independent European socio economic impact analysis for the Nickel Industry. The purpose of the study is to gain a detailed and accurate understanding of the importance of the nickel industry to the economic prosperity of Member States. The full report is available to interested parties and a series of summarised fact sheets has been produced. This glossary provides explanations for commonly used terms within the report and fact sheets.
Direct industry: the primary European (mining, refining) nickel industry, the importation of raw nickel, the importation and trading of finished products, transportation of nickel and recycling (this includes collectors, processors and scrap dealers)
End use: all end use industry segments where nickel is an essential component in either the production process or the end product itself. It is considered essential if the product would not perform either at all or as well without nickel or where exclusion of nickel would increase the price significantly
First use: industries where nickel is alloyed to produce stainless steel, and alloy steels and nonferrous alloys plus foundry and plating
Nickel dependent products: Products where a nickel containing alloy significantly transforms either the process or end product and where this effect cannot be achieved in any other way or, if an alternative is used, performance is significantly reduced, the process would be substantially disadvantaged or the price would be significantly higher
Supplier “multiplier” effect: the effect by which, for each expenditure on goods or services by companies and people in the nickel industry, additional jobs are created
Value-added: the amount by which the value of an article is increased at each stage of
its production, excluding the initial cost of the nickel. Expressed another way, value added is the turnover
of companies in the nickel and nickel using industries less imported raw material costs.
The full Weinberg report on the socio-economic impact of the nickel industry in the EU is available on
request.
For further information contact:
Rosemarie Evans
Telephone: 44 1527 584777
revans@nickelinstitute.org
Paola Di Discordia
Téléphone : 32 2 775 6313
didiscordia@euronickel.org
