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Philippines to Benefit from Indonesia Nickel Ore Ban

Metal News - Published on Fri, 20 Sep 2019

Image Source: philstar.com
Philippine Star reported that while the Philippines could see a spike in nickel prices when it is able capitalize on Indonesia’s nickel ore ban, the government is unsure if the local sector will be able to meet the demand for high grade ore. In an interview, Mines and Geosciences Bureau director Mr Wilfredo Moncano told reporters that Indonesia’s ban on nickel ore exports is an encouraging development for Philippine mining firms. He said that “It’s encouraging on the part of the nickel miners. I would also expect a spike or increase in the price of nickel.”

MGB said that “The positive outlook was motivated by expected economic growth and increased demand from China. The growing concern for possible disruptions in the operations of main nickel producers in the world market, coupled with the growing demand for electronic vehicles, will also push prices higher.”

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Posted By : Rabi Wangkhem on Fri, 20 Sep 2019
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