[{"data":1,"prerenderedAt":740},["ShallowReactive",2],{"ticker-data":3,"story-article/can-the-philippines-emulate-indonesias-success-with-downstream-nickel-plans":550},[4,52,82,112,148,186,229,261,297,336,378,419,460,490,520],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-14","2wk","Updated every 2 weeks","Lithium",317.07,322.34,-1.64,35.66,90.62,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-09-30",{"date":19,"value":20},"2026-09-16",354.99,{"date":22,"value":23},"2026-09-02",385.07,{"date":25,"value":26},"2026-08-19",372.67,{"date":28,"value":29},"2026-08-05",367.54,{"date":31,"value":32},"2026-07-22",388.26,{"date":34,"value":35},"2026-07-08",399.4,{"date":37,"value":38},"2026-06-24",410.62,{"date":40,"value":41},"2026-06-10",427.77,{"date":43,"value":44},"2026-05-27",449.85,{"date":46,"value":47},"2026-05-13",451.12,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",256.83,278.71,-7.85,1.12,46.89,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},300.39,{"date":22,"value":65},306.07,{"date":25,"value":67},297.22,{"date":28,"value":69},296.63,{"date":31,"value":71},309.38,{"date":34,"value":73},317.2,{"date":37,"value":75},330.54,{"date":40,"value":77},346.5,{"date":43,"value":79},358.35,{"date":46,"value":81},350.28,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",292.05,311.1,-6.12,43.7,92,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},339.85,{"date":22,"value":95},352.45,{"date":25,"value":97},341.12,{"date":28,"value":99},337.87,{"date":31,"value":101},354.36,{"date":34,"value":103},364.06,{"date":37,"value":105},376.67,{"date":40,"value":107},393.29,{"date":43,"value":109},411.01,{"date":46,"value":111},408.51,{"publishedDate":5,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",171.41,173.83,-1.39,-27.13,-1.06,[122,123,125,126,129,131,133,136,138,141,142,145],{"date":5,"value":116},{"date":124,"value":117},"2026-10-07",{"date":17,"value":117},{"date":127,"value":128},"2026-09-23",175.44,{"date":19,"value":130},178.66,{"date":22,"value":132},189.92,{"date":134,"value":135},"2026-08-26",192.6,{"date":25,"value":137},199.83,{"date":139,"value":140},"2026-08-12",217.25,{"date":28,"value":140},{"date":143,"value":144},"2026-07-29",221.25,{"date":31,"value":146},224.44,"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-21","Nickel",107.13,114.04,-6.06,-11.27,-0.65,[157,158,159,161,164,166,168,170,173,176,179,182],{"date":149,"value":151},{"date":124,"value":152},{"date":127,"value":160},116.1,{"date":162,"value":163},"2026-09-09",119.13,{"date":134,"value":165},119.61,{"date":139,"value":167},121.04,{"date":143,"value":169},121.19,{"date":171,"value":172},"2026-07-15",122.66,{"date":174,"value":175},"2026-07-01",125.61,{"date":177,"value":178},"2026-06-17",131.5,{"date":180,"value":181},"2026-06-03",134.65,{"date":183,"value":184},"2026-05-20",135.83,"/nickel/prices",{"publishedDate":17,"updateFrequency":187,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":228,"subscription":49,"isProtected":50,"hasAccess":51},"1mo","Updated every month","Natural Graphite",78.45,80.18,-2.16,-3.84,-4.03,[196,197,199,202,205,208,211,214,217,220,223,226],{"date":17,"value":190},{"date":198,"value":191},"2026-08-28",{"date":200,"value":201},"2026-07-31",80.66,{"date":203,"value":204},"2026-06-30",82.87,{"date":206,"value":207},"2026-05-29",82.99,{"date":209,"value":210},"2026-04-30",82.93,{"date":212,"value":213},"2026-03-31",82.39,{"date":215,"value":216},"2026-02-27",81.92,{"date":218,"value":219},"2026-01-30",81.69,{"date":221,"value":222},"2025-12-31",81.58,{"date":224,"value":225},"2025-11-28",81.35,{"date":227,"value":225},"2025-10-31","/natural-graphite/prices",{"publishedDate":17,"updateFrequency":187,"updateFrequencyText":188,"label":230,"today":231,"last":232,"percentageChange":233,"yearToDate":234,"yearOnYear":235,"oneYearIndexTrend":236,"url":260,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",86.15,81.86,5.24,15.73,19.78,[237,238,239,241,242,244,246,248,250,252,254,257],{"date":17,"value":231},{"date":200,"value":232},{"date":203,"value":240},80.54,{"date":206,"value":240},{"date":209,"value":243},84.01,{"date":212,"value":245},79.79,{"date":215,"value":247},75.72,{"date":218,"value":249},74.61,{"date":221,"value":251},74.44,{"date":227,"value":253},72.75,{"date":255,"value":256},"2025-09-30",71.92,{"date":258,"value":259},"2025-08-29",71.46,"/synthetic-graphite/prices",{"publishedDate":262,"updateFrequency":187,"updateFrequencyText":188,"label":263,"today":264,"last":265,"percentageChange":266,"yearToDate":267,"yearOnYear":268,"oneYearIndexTrend":269,"url":296,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-15","Anode",80.45,80.24,0.27,1.81,3.2,[270,271,273,275,276,278,281,284,287,289,291,293],{"date":262,"value":264},{"date":272,"value":265},"2026-09-15",{"date":274,"value":265},"2026-08-17",{"date":171,"value":265},{"date":277,"value":265},"2026-06-15",{"date":279,"value":280},"2026-05-15",79.16,{"date":282,"value":283},"2026-04-15",81.98,{"date":285,"value":286},"2026-03-16",79.03,{"date":288,"value":286},"2026-02-16",{"date":290,"value":286},"2026-01-15",{"date":292,"value":286},"2025-12-15",{"date":294,"value":295},"2025-11-17",77.79,"/anode/prices",{"publishedDate":298,"updateFrequency":187,"updateFrequencyText":188,"label":299,"today":300,"last":301,"percentageChange":302,"yearToDate":303,"yearOnYear":304,"oneYearIndexTrend":305,"url":335,"subscription":49,"isProtected":50,"hasAccess":51},"2026-08-01","Cathode",73.32,77.21,-5.04,14.41,55.07,[306,307,308,311,314,317,320,323,325,327,329,332],{"date":298,"value":300},{"date":174,"value":301},{"date":309,"value":310},"2026-06-01",80.32,{"date":312,"value":313},"2026-05-01",81.71,{"date":315,"value":316},"2026-04-01",77.27,{"date":318,"value":319},"2026-03-01",81.99,{"date":321,"value":322},"2026-02-01",80.5,{"date":290,"value":324},72.79,{"date":292,"value":326},64.08,{"date":294,"value":328},62.01,{"date":330,"value":331},"2025-10-15",53.51,{"date":333,"value":334},"2025-09-15",49.5,"/cathode/prices",{"publishedDate":337,"updateFrequency":187,"updateFrequencyText":188,"label":338,"today":339,"last":340,"percentageChange":341,"yearToDate":342,"yearOnYear":343,"oneYearIndexTrend":344,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[345,346,348,351,354,357,360,363,366,368,371,374],{"date":337,"value":339},{"date":347,"value":340},"2025-02-28",{"date":349,"value":350},"2025-01-31",71.45,{"date":352,"value":353},"2024-12-31",75.74,{"date":355,"value":356},"2024-11-29",76.98,{"date":358,"value":359},"2024-10-31",77.34,{"date":361,"value":362},"2024-09-30",77.43,{"date":364,"value":365},"2024-08-30",80.56,{"date":367,"value":207},"2024-07-31",{"date":369,"value":370},"2024-06-28",87.2,{"date":372,"value":373},"2024-05-31",90.7,{"date":375,"value":376},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":379,"updateFrequency":6,"updateFrequencyText":7,"label":380,"today":381,"last":382,"percentageChange":383,"yearToDate":384,"yearOnYear":385,"oneYearIndexTrend":386,"url":418,"subscription":49,"isProtected":50,"hasAccess":51},"2026-10-08","Black Mass",37.11,38.95,-4.72,-14,18.31,[387,388,390,393,396,399,402,405,408,411,414,416],{"date":379,"value":381},{"date":389,"value":382},"2026-09-24",{"date":391,"value":392},"2026-09-10",42.03,{"date":394,"value":395},"2026-08-27",43.88,{"date":397,"value":398},"2026-08-13",42.33,{"date":400,"value":401},"2026-07-30",43.42,{"date":403,"value":404},"2026-07-16",46.74,{"date":406,"value":407},"2026-07-02",46.01,{"date":409,"value":410},"2026-06-18",49.57,{"date":412,"value":413},"2026-02-12",47.34,{"date":415,"value":410},"2026-01-29",{"date":290,"value":417},43.15,"/recycling/black-mass-prices",{"publishedDate":262,"updateFrequency":187,"updateFrequencyText":188,"label":420,"today":421,"last":422,"percentageChange":423,"yearToDate":424,"yearOnYear":425,"oneYearIndexTrend":426,"url":459,"subscription":49,"isProtected":50,"hasAccess":51},"Rare Earths",172.08,171.72,0.21,20.59,30.21,[427,428,430,433,436,439,442,445,448,451,454,457],{"date":262,"value":421},{"date":429,"value":422},"2026-10-01",{"date":431,"value":432},"2026-09-03",170.83,{"date":434,"value":435},"2026-08-20",169.63,{"date":437,"value":438},"2026-08-06",172.28,{"date":440,"value":441},"2026-07-23",173.94,{"date":443,"value":444},"2026-07-09",171.69,{"date":446,"value":447},"2026-06-25",168.55,{"date":449,"value":450},"2026-06-11",165,{"date":452,"value":453},"2026-05-28",163.89,{"date":455,"value":456},"2026-05-14",172.63,{"date":209,"value":458},175.6,"/rare-earths/prices",{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":461,"today":462,"last":463,"percentageChange":464,"yearToDate":465,"yearOnYear":466,"oneYearIndexTrend":467,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",152.7,162.48,-6.02,17.38,53.11,[468,469,470,472,474,476,478,480,482,484,486,488],{"date":198,"value":462},{"date":200,"value":463},{"date":203,"value":471},171.08,{"date":206,"value":473},173.65,{"date":209,"value":475},164.53,{"date":212,"value":477},157.28,{"date":215,"value":479},151.44,{"date":218,"value":481},144.5,{"date":221,"value":483},130.09,{"date":224,"value":485},124.6,{"date":227,"value":487},122.35,{"date":255,"value":489},103.5,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":491,"today":492,"last":493,"percentageChange":494,"yearToDate":495,"yearOnYear":496,"oneYearIndexTrend":497,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",144.45,149.67,-3.49,26.69,49.06,[498,499,500,502,504,506,508,510,512,514,516,518],{"date":198,"value":492},{"date":200,"value":493},{"date":203,"value":501},157.37,{"date":206,"value":503},160,{"date":209,"value":505},149.53,{"date":212,"value":507},141.97,{"date":215,"value":509},136.99,{"date":218,"value":511},129.81,{"date":221,"value":513},114.02,{"date":224,"value":515},109.17,{"date":227,"value":517},109.02,{"date":255,"value":519},99.44,{"publishedDate":198,"updateFrequency":187,"updateFrequencyText":188,"label":521,"today":522,"last":523,"percentageChange":524,"yearToDate":525,"yearOnYear":526,"oneYearIndexTrend":527,"url":377,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",229.17,218.34,4.96,49.35,83.44,[528,529,530,532,534,536,538,540,542,544,546,548],{"date":198,"value":522},{"date":200,"value":523},{"date":203,"value":531},239.1,{"date":206,"value":533},258.32,{"date":209,"value":535},239.37,{"date":212,"value":537},213.01,{"date":215,"value":539},204.49,{"date":218,"value":541},218.06,{"date":221,"value":543},153.45,{"date":224,"value":545},134.02,{"date":227,"value":547},118.22,{"date":255,"value":549},111.93,{"id":551,"uuid":552,"name":553,"slug":554,"full_slug":555,"content":556,"relatedArticles":738,"relatedVideos":739},112469552268674,"5b28b86b-b8ef-49ae-bc77-01cac281f878","Can the Philippines emulate Indonesia’s success with downstream nickel plans?","can-the-philippines-emulate-indonesias-success-with-downstream-nickel-plans","article/can-the-philippines-emulate-indonesias-success-with-downstream-nickel-plans",{"_uid":557,"date":558,"tags":559,"editor":569,"content":579,"excerpt":713,"featured":51,"reporter":714,"_editable":718,"component":719,"seo_title":553,"categories":720,"visibility":729,"author_company":49,"featured_image":730,"seo_description":713,"author_full_name":49,"author_job_title":49,"formattedDate":736,"formattedArticleDate":737},"3a816ac1-31be-42da-8e7e-9998c89ea51a","2024-05-16 00:00",[560,563,566],{"slug":561,"name":562},"inflation-reduction-act","Inflation Reduction Act",{"slug":564,"name":565},"philippines","Philippines",{"slug":567,"name":568},"us","US",[570],{"slug":571,"name":572,"content":573},"didi-bostock","Didi Bostock",{"job_title":574,"image":575,"bio":577,"linkedin":578},"Editor - Energy Transition & Economics",{"filename":576},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":580,"content":581},"doc",[582,589,594,601,604,609,614,619,624,629,650,655,660,665,670,675,680,685,690,695],{"type":583,"attrs":584,"content":585},"paragraph",{"textAlign":49},[586],{"text":587,"type":588},"The Philippines is aiming to add three more processing plants to its domestic nickel industry, as it seeks to emulate the success of neighbouring Indonesia in downstreaming its nickel resources.","text",{"type":583,"attrs":590,"content":591},{"textAlign":49},[592],{"text":593,"type":588},"The Philippine government is hoping to attract foreign investment to value-add the country’s domestic nickel industry, developing it from a purely extractive sector to one that is an important step in the lithium ion battery value chain.",{"type":595,"attrs":596,"content":598},"heading",{"level":597,"textAlign":49},4,[599],{"text":600,"type":588},"The Philippines’ nickel footprint:",{"type":583,"attrs":602,"content":603},{"textAlign":49},[],{"type":583,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":588},"As a free trade agreement (FTA) partner of the US, the Philippines could prove pivotal to Washington’s ambition of de-risking its nickel supply chain away from China. ",{"type":583,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":588},"The US has reportedly entered early-stage discussions with the Philippine government regarding measures to prevent China from gaining a controlling interest in its nickel industry.",{"type":583,"attrs":615,"content":616},{"textAlign":49},[617],{"text":618,"type":588},"These measures could take the form of a trilateral arrangement, that would see the US provide the necessary financing and a third country the refining and processing technology.",{"type":595,"attrs":620,"content":621},{"level":597,"textAlign":49},[622],{"text":623,"type":588},"Can the Philippines replicate Indonesia’s success?",{"type":583,"attrs":625,"content":626},{"textAlign":49},[627],{"text":628,"type":588},"For the West, the Philippines offers an opportunity to diversify away from the China-dominated Indonesian nickel industry and mitigate against the risks associated with nickel’s growing supply concentration in a single country.",{"type":583,"attrs":630,"content":631},{"textAlign":49},[632,637,646],{"text":633,"type":588,"marks":634},"Watch Benchmark senior analyst Jorge Uzcategui discuss the nickel market in Indonesia. Watch more analyst insight videos ",[635],{"type":636},"italic",{"text":638,"type":588,"marks":639},"here",[640,645],{"type":641,"attrs":642},"link",{"href":643,"uuid":49,"anchor":49,"target":49,"linktype":644},"https://source.benchmarkminerals.com/search/tag/analyst-insights?items_per_page=12&page_offset=0&tags[]=analyst-insights","url",{"type":636},{"text":647,"type":588,"marks":648},".",[649],{"type":636},{"type":583,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":588},"“With the dominance of Chinese companies in the Indonesian nickel sector, any policies that preferentially encourage downstream nickel capacity development from non-Chinese companies could incentivise investment,” said Adam Webb, cathode productor director at Benchmark. ",{"type":583,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":588},"“This could create Inflation Reduction Act compliant material for the US market from the Philippines. Outside of this, more conventional policies, such as tax breaks, could be used to make investment in the Philippines more attractive.”",{"type":583,"attrs":661,"content":662},{"textAlign":49},[663],{"text":664,"type":588},"Chinese-driven supply side growth in Indonesia has negatively impacted nickel prices since early 2023, resulting in a growing list of supply curtailments and shutdowns across Western jurisdictions this year. ",{"type":583,"attrs":666,"content":667},{"textAlign":49},[668],{"text":669,"type":588},"The development of new nickel processing facilities in the Philippines will require large capital outlays during a period of sustained over-supply for the nickel market, which could suppress prices below incentive levels for many prospective operations.",{"type":583,"attrs":671,"content":672},{"textAlign":49},[673],{"text":674,"type":588},"“Aside from raising financing in the current price environment, the other major challenge is the Philippines’ historic legislation and attitude towards the mining industry,” Webb added.",{"type":583,"attrs":676,"content":677},{"textAlign":49},[678],{"text":679,"type":588},"The Philippines issued a ban on new-open pit mines in 2017, that was only lifted in 2021. Local governments and communities too have often been strongly opposed to new mining projects in the region. ",{"type":583,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":588},"OceanaGold’s Didipio mine in the Philippines was closed for two years following a dispute with the local government, before eventually being allowed to re-open in late 2021.",{"type":583,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":588},"Such instability makes the Philippines mining sector a higher risk jurisdiction for investment in nickel mining.",{"type":595,"attrs":691,"content":692},{"level":597,"textAlign":49},[693],{"text":694,"type":588},"Join us at Giga APAC 2024",{"type":583,"attrs":696,"content":697},{"textAlign":49},[698,702,709],{"text":699,"type":588,"marks":700},"Discussions on Asia Pacific’s battery market will continue at Benchmark’s ",[701],{"type":636},{"text":703,"type":588,"marks":704},"Giga APAC 2024",[705,708],{"type":641,"attrs":706},{"href":707,"uuid":49,"anchor":49,"target":49,"linktype":644},"https://benchmarkevents.benchmarkminerals.com/gigaapac24",{"type":636},{"text":710,"type":588,"marks":711}," conference being held September 11-12 at the Ritz Carlton in Perth, Australia.",[712],{"type":636},"The Philippines is aiming to add three more processing plants to its domestic nickel industry, as it seeks to emulate the success of neighbouring Indonesia in downstreaming its nickel resources. The Philippine government is hoping to attract foreign investment to value-add the country’s domestic nickel industry, developing it from a purely extractive sector to one […]",[715],{"slug":571,"name":572,"content":716},{"job_title":574,"image":717,"bio":577,"linkedin":578},{"filename":576},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3a816ac1-31be-42da-8e7e-9998c89ea51a\", \"id\": \"\"}-->","article",[721,724,727],{"slug":722,"name":723},"critical-minerals","Critical Minerals",{"slug":725,"name":726},"geopolitics","Geopolitics",{"slug":728,"name":150},"nickel","private",{"id":49,"alt":731,"name":732,"focus":732,"title":731,"source":732,"filename":733,"copyright":732,"fieldtype":734,"meta_data":735,"is_external_url":51},"Philippines nickel mine","","https://a.storyblok.com/f/287943243085208/4993e39e60/bm-philippines-nickel-mine.jpg","asset",{"alt":731,"title":731,"source":732,"copyright":732},"May 16, 2024","16th May 2024",[],[],1792773901419]