Nickel industry to hike prod’n

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Nigeria News News

The Philippines’ nickel industry is eyeing increase in production and prices for next year on the back of rising demand from China, the world’s largest stainless steel and electric vehicle (e-vehicle) producer.

Danto Bravo, president of Philippine Nickel Industry Association , the organization of some of the country’s largest nickel mining companies, said that the Philippines, one of the highest mineralized countries in the world, will benefit from the decision of Indonesia to stop exporting nickel ore.

In September, the government of Indonesia, the largest nickel producer globally, announced a planned nickel ore export ban from 2020 to 2022. “Because of Indonesian export ban, there will be ramp up in production and export. There will be increase in the supply of ore to China,” said Bravo, who also serves as the president of Global Ferronickel Holdings, Inc., the third largest nickel ore producer in the Philippines and the largest single lateritic mine exporter in the world.

“We can’t supply all of China’s demand so the price will increase too for next year,” Bravo further said. Last year, the country’s nickel productions stood at 25.91 million DMT. For this year, PNIA forecast a slightly higher production of 25 million DMT to 26 million DMT.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lonely Beijing citizens are helping create a billion-dollar industry around their pampered petsLi Chao's life changed forever the evening he returned home from a late night at the office and found his beloved husky JoJo dead on the floor.
Source: CNN Philippines - 🏆 13. / 63 Read more »