The Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) indefinitely suspends four nickel mining operations as it reviews mining policy and conducts an industry audit in region.
According to a report, Chairman of the Committee on Environment and Ecology Assemblyman Hanibal Tulawie expressed that the public continued to call out the destructive mining operations taking place in the region.
“The suspension order was due to the on-going review of mining policy in BARMM,” Environment, Natural Resources and Energy Minister Abdulraof Abdul Macacua was quoted as saying in a Reuters query.
Moreover, an industry audit is also being conducted to push forth the implementation of the Bangsamoro Responsible Mining Law that will be the region’s strategy for promoting and observing responsible mining.
Macacua also stated in a Reuters query that a “performance assessment and evaluation team” has been created to review the mining firms’ operations, giving no definite timeline on how long the suspension will last.
There are no recorded indication exports that had been halted. However, Canadian Investment Bank, Bank of Montreal (BMO), claims in a report that the nickel ore supply may be affected should the mining suspension remain in place.
BMO was quoted as saying in a report that “the move potentially removes a further source of nickel ore supply from the market as the scramble to secure raw material units ahead of the end-of-year Indonesian ore ban continues, and is likely to bolster nickel ore prices.”
