DTI: Ph can supply critical minerals to US

The Department of Trade and Industry (DTI) has asked the United States government to consider the Philippines as one of its partners in the supply of critical minerals.

Trade Sec. Ramon Lopez recently met with the US Commerce Sec. Gina Reimondo in Washington, DC to discuss the Indo-Pacific Economic Framework (IPEF) and the economic reforms by the Philippines.

Lopez told Raimondo that the country is rich in nickel and cobalt resources – which are key materials in battery manufacturing. He added that the country is also abundant in copper, which is often used for the production of technology products.

The Philippines is the second-highest nickel producer globally, which produced around 370,000 metric tons in 2021.

The DTI is looking forward to discussing international cooperation on trade, industry, and investments with the US, Lopez said.

Lopez also emphasized the growing investments of the US in the Philippines, which include the growth of data centers for hyperscalers, with corresponding renewable energy projects like clean energy sources, green metals mineral processing – including nickel hydroxide and nickel zinc batteries for electric vehicles, renewable energy storage systems and other digital infrastructure.

“The growth in data centers will also lead to more renewable energy (RE) demand since RE is the required source of energy for these facilities. The government reforms put in place by the Duterte administration will support building stronger trade and investment ties with the US,” Lopez said in a statement.

Earlier, global market research firm IHS Markit said that the Philippines could be an alternative metal supplier and is “well-positioned” to produce metals used in making electric vehicles and battery supply chains.