According to information supplied by the Central Bank, nickel prices have been on a steady rise over the past three years and Falconbridge Dominicana will increase its production to 29,476 tons. Production increased by 23.4% in 2003 and by 8% in 2004, and exports of US$154 million represent a 65% increase over 2003. Behind all of this is the awakening of the Chinese industrial giant that has caused an increase in all metal prices, even scrap. Dominican nickel has gone from US$3,424 a ton up to US$5,232 a ton.
China consumes an enormous amount of nickel in its heavy industry and steel production facilities. Demand for the foreseeable future is strong. Experts say there is still 15 to 20 years of good ore in the mines that Falconbridge operates in Bonao and La Vega.