Glencore, a globally diversified natural resource company, sees the Philippines to be a potential partner for nickel and copper processing to expand its local operation.
In a report by Manila Bulletin, Trade and Industry Secretary Alfredo E. Pascual disclosed the information following the meeting of Glencore CEO Gary Nagle and President Ferdinand R. Marcos Jr. at the World Economic Forum organized sessions in Davos.
Pascual said that the Philippines is seen as a “potential partner to process nickel and copper responsibly and sustainably for electric vehicle batteries and energy storage units, among others”
Glencore officials met with Marcos Jr. and Sec. Pascual to discuss the company’s interest in expanding the Philippines’ mining and processing operations.
Glencore is a Swiss company that operates the Philippine Associated Smelting and Refining Corp. (PASAR) in Leyte, owning 78% of the country’s lone copper smelting plant, which has an annual processing capacity of 720,000 tons of copper concentrate and a refinery with an annual capacity of 215,000 tons of cathodes.