Philippines increases nickel processing capacity after US

The Philippines is aiming to build three more processing plants to add capacity and value to the country’s potential nickel output, Trade Undersecretary Ceferino Rodolfo said on Thursday. Rodolfo did not provide details of the plan, Reuters reported on May 10.

A view of a nickel ore stockpile at a port in Sta Cruz Zambales (northern Philippines) on February 8, 2017.

The Southeast Asian nation is said to be following a similar path as Indonesia, which has attracted large investments in nickel ore processing plants. The Philippines currently has two nickel processing plants, both owned by the country’s largest ore producer, Nickel Asia Corp.

In a speech, Environment Secretary Maria Antonia Yulo-Loyzaga said the Philippines should increase its capacity to process nickel, a key ingredient in electric vehicle batteries. "We want the Philippines to be part of this value chain, not just the supply chain. Manila will facilitate responsible exploration and mining to attract investors," Loyzaga said.

Philippine Economic Planning Secretary Arsenio Balisacan stressed that mining nickel ore would be the ideal scenario for the Philippines, and that this is the right time for Manila to look for ways to add value to its mineral production. With large untapped mineral reserves, the Philippines is studying possible regulations to encourage mining companies, Balisacan said.

“The energy transition makes the Philippines’ critical minerals not only economically valuable but also important for energy security and national security,” said Balisacan.

Not only the US and China, but also Australia, the UK, Canada and European Union (EU) countries have expressed interest in the Philippine nickel sector, according to Ms. Loyzaga. Latest government figures show that the Philippines is the leading supplier of raw nickel ore to China, reaching 35.14 million dry tonnes in 2023, up 19% from 2022.

Source: https://thanhnien.vn/philippines-tang-cong-suat-che-bien-nickel-sau-khi-my-trung-to-y-quan-tam-18524051016442534.htm