There will be 12 new metal mines in the Philippines this year, mostly nickel mines.

Local industry regulators in the Philippines said last week that about 12 new metal mines would be put into commercial operation this year, most of them nickel projects. In addition, the Philippine Mining and Geology Bureau said in a report that Philippine nickel production totaled 386359 tons last year, an increase of 17% over the previous year and the highest level in six years.

It is reported that the Philippines has become China's largest supplier of nickel ore after Indonesia banned the export of nickel ore from 2020. Wilfredo Moncano, director of MGB, said the medium-term outlook for mining was optimistic "unless the dispute between Ukraine and Russia spreads to Asia and disrupts trade". He hopes that the next ruling government of the Philippines will continue to support the policies of Philippine President Duterte, who ends his term in June, including ending a four-year ban on opencast mining of copper, gold, silver and composite ores.

Dante Bravo, president of Global Ferronickel Holdings Inc, the country's second-largest nickel miner, said that while existing local nickel miners were "at their best", the addition of new producers would increase the country's nickel ore production. However, Bravo also said that despite the current high nickel prices, local miners still face a number of challenges due to higher fuel prices, higher inflation, labour shortages, supply chain bottlenecks and rising freight costs.

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