The Philippines should stop exporting raw nickel and build at least two ferro-nickel smelters in order to take advantage of the rise in demand for electric vehicles, according to a local expert.
THE Philippines should stop exporting raw nickel and build at least two ferro-nickel smelters in order to take advantage of the rise in demand for electric vehicles, according to a local expert.
“It would be better if we have an electric battery plant and an electric vehicle [industry]. Indonesia, they are close to building their own cars. Soon, they will surpass us,” Calanog told the BusinessMirror over the weekend. “We’re throwing nickel away and it’s such a waste.” Calanog added that coal-fired power plants are also less expensive than resorting to renewable power. These power plants would be able to generate enough power for the smelting facility and would not to have tap onto the national grid for its power needs.
“The Mineral Accounts of the Philippines aims to provide information on the stocks and changes in stocks of four metallic mineral resources in the country, namely: nickel, gold, copper, and chromite,” PSA explained. The data also showed that the value of Class A copper reserves increased by 30.9 percent to P46.38 billion in 2021 from P35.43 billion in 2020.
Meanwhile, PSA said that in terms of physical asset, accounts declined in 2021, led by Class A nickel reserves.
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