Fitch Solutions, an international research group, expects the global supply to benefit from Indonesia’s and the Philippines’ predicted increase in production of nickel in the coming years.
Based on the global nickel mining outlook by Fitch Solutions, Indonesia’s recovering supply as well as the Philippines’ positive production growth is what will strengthen global production of nickel for 2019.
“We expect output in the Philippines to begin to rise in 2019 as some of the currently suspended mines become operational,” Fitch Solutions was quoted in an article by Inquirer.net.
An annual average of 3.5 percent from 2018 to 2027 or an output reach of 2.9 million tons is projected by the research unit.
SR Metals, Global Ferronickel, Nickel Asia Corp., and CTP Corp. “will account for the vast majority of nickel production in the country” according to Fitch Solutions.
Nickel Asia, the current biggest nickel producer in the Philippines, will keep its place as the driver of nickel production in the Philippines due to its Taganito and Cagdianao mines dodging the government’s recent crackdown in the mining sector.
The research claims that the said crackdown resulted in a 22.7 percent decline in the country’s nickel production in 2016 to 2018.
In addition, despite the Department of Environment and Natural Resources’ (DENR) reopening of numerous mining companies in the country after its latest mining review, the Philippines will still fall behind Indonesia as the leading global producer of global ore.