Philippines’ call for domestic processing sees Nickel miners urge incentives, cheaper energy

Comments by the Philippines house speaker that he will revive proposed measures requiring miners to process ores domestically have provoked concern among nickel miners but also relief that a ban on ore exports was not raised.

Miners are requesting state support to fulfil any domestic processing objectives. “In a speech during the congress session on Monday July 25, house speaker Pantaleon Alvarez called for domestic processing of minerals to generate additional income and jobs but made no mention of a ban,” Ronald Rocidero, vp legal and policy of the Chamber of Mines of the Philippines, told Metal Bulletin. The London Metal Exchange nickel price has shown little reaction to the statement. Tuesday’s official three-month LME nickel price settled at $10,340-10,350 per tonne, $110-120 belowits opening level. Metal Bulletin’s price assessment for nickel ore 1.8% cif China stood flat week-on-week at $40-42 per tonne. The assessment for laterite ore 1.5% cif China was flat at $32-34 per tonne. Monday’s statement from the house speaker was reminiscent of the run-up to the ban on minerals exports in 2014 by Indonesia in order to promote domestic processing of minerals. If the Philippines does impose an…


Read more from original source:

This entry was posted in Metal Marketing, Mining, News. Bookmark the permalink.

Comments are closed.