The Philippines is aiming to build three more processing plants to increase capacity and add value to the country’s potential nickel output, Trade Undersecretary Ceferino Rodolfo said on Thursday, without providing details of the plan, Reuters reported.
A view of a nickel ore stockpile at a port in Sta Cruz, Zambales, northern Philippines, February 8, 2017.
The Southeast Asian nation is said to be following the same path as Indonesia, which has attracted large investments in nickel ore processing plants. Currently, the Philippines 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 said that mining nickel ore would be the ideal scenario for the Philippines, and that the time is right for Manila to look for ways to add value to its mineral production. With large untapped reserves, the Philippines is studying possible regulations to encourage mining companies, Balisacan said.
“The energy transition issue makes the Philippines’ critical minerals not only economically valuable but also have implications for energy security and national security,” Mr. Balisacan said.
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
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