Buoyed by increasing demand for electric vehicle batteries, Philippine nickel producers expressed confidence of mining 50 million metric tons of raw nickel this year.Dante Bravo, President of the Philippine Nickel Industry Association , said the country’s more than 30 nickel companies are capable of increasing their output.
Nickel producers in the Philippines are able to adjust to the fluctuating price of nickel in the world market, primarily on account of demand dictated by China and the nickel export policy of Indonesia, which is the world’s biggest nickel producer, the challenges posed by inclement weather and climate-change triggered events that limit the shipment of minerals outside the Philippines.
“We have the potential to supply beyond the 40 million metric tons because the take off of nickel now from the battery sector is increasing, year-in and year-out. We have more batteries being produced. It is of course a question of logistics and a question of price,” he said.
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Source: BusinessMirror - 🏆 19. / 59 Read more »