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PHL Nickel Industry to Benefit from Indonesia Export Ban

Metal News - Published on Fri, 06 Sep 2019

Image Source: msn.com
Philippine nickel ore production is expected to register a modest improvement following Indonesia’s nickel ore export ban, Fitch Solutions Macro Research said. In a commentary sent to reporters, Fitch Solutions said the Philippines will benefit from Indonesia’s September 2 announcement to ban nickel ore exports starting January 1, 2020, earlier than the originally scheduled 2022. It said that “We highlight that a recent decision by the Indonesian government to bring forward a nickel ore export ban will pose upside risks to lackluster nickel production forecasts in the Philippines. This has created an opportunity for Philippine nickel miners to alleviate the impending supply shortfall in Indonesia the largest nickel producer globally.”

According to Fitch Solutions, nickel smelters in China, which currently import majority of their ore from Indonesia, will likely look to the Philippines as an alternative supply source.

It added that “This sudden increase in demand could lead to an acceleration of nickel mine development and increased investment into current operational projects, aimed at increasing production in 2020.”

In June, Philippine Nickel Industry Association president Mr Dante Bravo said the industry sees a wide area of engagement with the government’s ambitious infrastructure spending program. He added that “With the tremendous growth projected in the infrastructure sector brought about by the government’s Build, Build, Build program, we see a wide area of engagement.”

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Posted By : Rabi Wangkhem on Fri, 06 Sep 2019
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