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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":710,"relatedVideos":711},112468022923484,"cc15eed3-df03-4a1a-a251-40ff620655fc","Philippines seeks to replicate Indonesia’s nickel strategy with proposed export ban","philippines-seeks-to-replicate-indonesias-nickel-strategy-with-proposed-export-ban","article/philippines-seeks-to-replicate-indonesias-nickel-strategy-with-proposed-export-ban",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":689,"featured":51,"reporter":690,"_editable":694,"component":695,"seo_title":543,"categories":696,"visibility":702,"author_company":49,"featured_image":703,"seo_description":689,"author_full_name":49,"author_job_title":49,"formattedDate":708,"formattedArticleDate":709},"3086abdd-4089-4ab6-97c9-eb12bcb7a168","2025-02-18 00:00",[550,553],{"slug":551,"name":552},"asia","Asia",{"slug":554,"name":555},"philippines","Philippines",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"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":567,"content":568},"doc",[569,586,591,603,608,627,634,639,644,649,654,659,664,669,674,679,684],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,576,584],{"text":574,"type":575},"Philippine lawmakers have introduced a bill to ban raw nickel ore exports, aiming to encourage domestic value-add processing and replicate neighbouring ","text",{"text":577,"type":575,"marks":578},"Indonesia’s success in downstreaming its nickel resources",[579],{"type":580,"attrs":581},"link",{"href":582,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/nickel-market-faces-uncertainty-amid-indonesias-mining-quota-adjustments?_branch_match_id=1544412304180349002&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWD3XycUwPMS3OD0yyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAI5kFHkgAAAA%3D","url",{"text":585,"type":575},".",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"Set to take effect five years after passage, the ban seeks to shift the country away from raw material exports toward local processing to capture more economic value. Similar efforts in 2016 and 2014 failed due to lack of support.",{"type":592,"attrs":593},"blok",{"id":594,"body":595},"18993d07-4b74-4a22-9e20-968f5f27b1a4",[596],{"id":597,"_uid":598,"type":599,"_editable":600,"component":601,"fixed_height":602,"use_fixed_height":50,"fixed_height_mobile":602,"fixed_height_tablet":602},"21632195","i-c5669880-13c3-46c2-8391-1f0eaf0a1382","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-c5669880-13c3-46c2-8391-1f0eaf0a1382\", \"id\": \"\"}-->","ContentFlourish","",{"type":570,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":575},"“The Philippines is the world’s second-largest nickel ore producer and has historically shipped the majority of its ore to China. However, last year its ore exports to Indonesia surged, amidst tightness in Indonesia’s domestic ore market due to delays in approvals to mining quotas,” said Jorge Uzcategui, senior nickel analyst at Benchmark.",{"type":570,"attrs":609,"content":610},{"textAlign":49},[611,613,619,621],{"text":612,"type":575},"However, with few new deposits under development and declining nickel grades at existing mines, Benchmark projects limited ",{"text":614,"type":575,"marks":615},"supply growth",[616],{"type":580,"attrs":617},{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/supply-surplus-overshadows-demand-growth-nickel-2024-in-review?_branch_match_id=1544412296898955641&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWzwhzS86OiDSpDEiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUA%2B2FPBUgAAAA%3D",{"text":620,"type":575}," from the Philippines through 2030. In 2024, the country’s mine output fell 2% to 376kt Ni contained and isn’t expected to return to 2023 levels until 2027, according to the ",{"text":622,"type":575,"marks":623},"Benchmark Nickel Forecast.",[624],{"type":580,"attrs":625},{"href":626,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://www.benchmarkminerals.com/nickel/data-reports/forecast",{"type":628,"attrs":629,"content":631},"heading",{"level":630,"textAlign":49},4,[632],{"text":633,"type":575},"Capturing domestic value ",{"type":570,"attrs":635,"content":636},{"textAlign":49},[637],{"text":638,"type":575},"Currently, the Philippines has two high-pressure acid leach (HPAL) facilities, both operated by Japan’s Sumitomo Metal Mining (SMM). These plants process ore into mixed sulphide precipitate (MSP), which is then shipped to Japan for refining into final nickel products, including battery-grade nickel sulphate.",{"type":570,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":575},"To strengthen its domestic industry, the government aims to establish at least three additional processing plants, but foreign investment will be crucial to achieving this goal.",{"type":570,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":575},"The Luzon Economic Corridor, a trilateral agreement between the US, Japan, and the Philippines signed in April 2024, seeks to channel $100 billion into infrastructure and strategic sectors – including critical mineral supply chains – over the next decade.",{"type":570,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":575},"The initiative aims to provide a pathway towards establishing a viable alternative to the Chinese-dominated Indonesian nickel sector, which is projected to capture 70% of global supply by 2030. ",{"type":570,"attrs":655,"content":656},{"textAlign":49},[657],{"text":658,"type":575},"Western and Asian governments are increasingly wary of the implications for supply chain security posed by both nickel’s single-country supply concentration and China’s dominance over Indonesia’s mining sector.",{"type":628,"attrs":660,"content":661},{"level":630,"textAlign":49},[662],{"text":663,"type":575},"What are the challenges?",{"type":570,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":575},"Despite these ambitions, the Philippines faces major hurdles in building a competitive domestic nickel processing industry.",{"type":570,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":575},"China’s monopoly on next-generation HPAL technology – along with access to cheap, state-backed loans – has enabled its firms to build processing facilities in Indonesia at unrivaled speed, scale, and cost. In contrast, numerous western nickel operations have been forced to close due to low prices. ",{"type":570,"attrs":675,"content":676},{"textAlign":49},[677],{"text":678,"type":575},"Without Chinese involvement, projects in the Philippines would likely struggle to compete with their Indonesian counterparts on cost, potentially deterring investment.",{"type":570,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":575},"Additionally, the Philippines’ nickel reserves are smaller than Indonesia’s, raising the possibility that an export ban could be ineffective, pushing buyers toward alternative suppliers, such as New Caledonia, rather than driving investment towards local processing.",{"type":570,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":575},"Finally, the return of President Trump to the White House adds further uncertainty, particularly the risk that tariffs could raise barriers for US investment. The new administration is shifting focus toward domestic resource development, potentially reducing foreign investment incentives in countries such as the Philippines.","Philippine lawmakers have introduced a bill to ban raw nickel ore exports, aiming to encourage domestic value-add processing and replicate neighbouring Indonesia’s success in downstreaming its nickel resources. Set to take effect five years after passage, the ban seeks to shift the country away from raw material exports toward local processing to capture more economic […]",[691],{"slug":558,"name":559,"content":692},{"job_title":561,"image":693,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3086abdd-4089-4ab6-97c9-eb12bcb7a168\", \"id\": \"\"}-->","article",[697,700],{"slug":698,"name":699},"critical-minerals","Critical Minerals",{"slug":701,"name":150},"nickel","private",{"id":49,"alt":704,"name":602,"focus":602,"title":704,"source":602,"filename":705,"copyright":602,"fieldtype":706,"meta_data":707,"is_external_url":51},"Philippines nickel mine","https://a.storyblok.com/f/287943243085208/0c0b889573/bm-shutterstock-2340094415-1.jpg","asset",{"alt":704,"title":704,"source":602,"copyright":602},"Feb 18, 2025","18th February 2025",[],[],1780670055621]