Nickel firms face bright prospects
The Philippine nickel mining industry is optimistic about prospects in 2020 as policies overseas are seen to benefit the local sector. In a press briefing, top officials of the Philippine Nickel Industry Association said the Indonesian government’s decision to ban the export of nickel ore next year would make the Philippines the world’s leading producer and push prices up following the expected shortfall.
This comes at a time when the Chinese government is also pushing for the use of electric vehicles as it moves to a more sustainable economy. Manufacturing e-cars need batteries, where nickel is a key component.The Asian economic powerhouse is the world’s biggest consumer of nickel, accounting for more than half of the entire global consumption.
The Philippines exports 90 percent of its nickel ores to China.