Philippines increases nickel processing capacity after US

Philippine Undersecretary of Trade Ceferino Rodolfo said the country is aiming to build three more processing plants to increase capacity and add value to its potential nickel production. However, Rodolfo did not provide details about the plan, according to Reuters on May 10.

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

This Southeast Asian nation is believed to be pursuing a similar path to Indonesia, which has attracted significant investment 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 strengthen its nickel processing capacity – a key ingredient in electric vehicle battery production. "We want the Philippines to be part of this value chain, not just a supply chain. Manila will facilitate responsible exploration and extraction to attract investors," Loyzaga stated.

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

"The energy transition issue means that the Philippines' critical mineral resources are not only economically valuable but also significant for energy security and national security," said Balisacan.

According to Ms. Loyzaga, not only the US and China, but also Australia, the UK, Canada, and European Union (EU) countries have expressed interest in the nickel sector in the Philippines. The latest government figures show that the Philippines is the leading supplier of raw nickel ore to China, reaching 35.14 million dry tons in 2023, a 19% increase from 2022.

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