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Nickel Output to Grow 2.5% in 10 years – Fitch Solution

Metal News - Published on Wed, 11 Sep 2019

Image Source: atinitonews.com
Manila Times quoted Fitch Solutions Macro Research as saying that mining firms are set to recover this year, nickel production in the country is expected to grow at an annual average rate of 2.5% over the next decade. In its latest industry report, Fitch Solutions said the country’s nickel mining output would increase by 2% to 346,800 metric tonnes this year, which is expected to sustain growth by 1.5 percent to 352,000 metric tonnes in 2020.

International research group said that by 2028, total nickel mine produced in the Philippines would reach 402,420 metric tonnes. It added that domestic miners SR Metals, Global Ferronickel, Nickel Asia Corporation and CTP Corp. will account for the vast majority of nickel production in the country.

It added that “Nickel Asia, in particular, will remain the driver of nickel production in the Philippines, especially as its Taganito and Cagdianoa mines, the first and second largest in the country respectively, have not been hit by the recent closures and suspensions.”

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Posted By : Rabi Wangkhem on Wed, 11 Sep 2019
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