Philex push forward with nickel ventures as clean energy demand surges

Philex Mining Corporation is eyeing a potential nickel mine site in Pangasinan as part of its strategy to tap into the growing demand for nickel, a key component in the global shift to clean energy.

In a report by Philippine Star, Philex President and CEO Eulalio Austin disclosed that the company has an ongoing application for the Pangasinan site, which holds potential to become a profitable nickel mine.

This exploration complements the ongoing efforts in Zambales, where Philex is aiming to initiate its first nickel production. Austin, however, did not specify a timeline or potential revenue impact for the Pangasinan project.

In 2023, Philex revealed its plans to venture into nickel mining, with the Zambales site, covered by a financial or technical assistance agreement (FTAA), serving as the starting point.

Austin emphasized the importance of capitalizing on the shift to green energy, warning that delays could result in missed opportunities.

The Zambales exploration began earlier this year, with a technical evaluation expected to conclude next year.

Meanwhile, Global Ferronickel Holdings Inc. (FNI) is in talks with European and Asian investors to establish a nickel processing plant in the Philippines.

FNI currently has no processing facilities in the country, while Nickel Asia Corporation has stakes in the two existing plants.

FNI President Dante Bravo, who also leads the Philippine Nickel Industry Association, shared that discussions with foreign investors are ongoing but provided no further details.

Last year, FNI disclosed plans to enter nickel processing to benefit from the surging demand driven by the global clean energy transition.