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Miners in Philippines Hope for Higher Nickel Ore Prices

Metal News - Published on Tue, 17 Sep 2019

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B World Online reported that nickel miners in Philippines may expect improved prices for ore in the near term as Indonesia sets an exporting ban for the mineral next year. Mr Dante R Bravo, president of the Philippine Nickel Industry Association, told reporters that the Indonesia export ban poses an opportunity for local miners, but noted the country may not be able to produce enough ore supply to meet the surge in demand. He said that “That’s exciting for the Philippine nickel industry, but we cannot definitely supply the gap that’s going to be left by the Indonesian ore ban. We’ll see. But as soon as the plans in Indonesia get operational…then we’re looking for basically three years of better prices for our ore.”

Mr Bravo said it is important for the cost of producing ore in the Philippines to stabilize to attract mining investors. He said that “You have to make it stable. Let’s say for the next two years… the price would really stay at that level. Whenever we go into value adding processing, there’s confidence in the investor that they can recover back their investment the soonest time possible.”

Earlier this month, Indonesia released a decree ordering a nickel ore export ban starting Jan. 1, 2020, sooner than its previous target of implementing the ban in 2022.

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Posted By : Rabi Wangkhem on Tue, 17 Sep 2019
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