The Global Nickel Industry Could Another Shock as the Second Largest Supplier of Nickel Ore Is Mulling over Export Tax

According to on multiple media reports, the government of the Philippines is considering taxing nickel ore exports in order to attract outside investment in its domestic nickel metal processing industry.

On Monday (January 30), local time, Philippine Department of Environment (DENR) Secretary Antonia Antonia Yulo Loyzaga told the media: "In the nickel supply chain, we hope not just to serve as the exporter of raw ore, but rather be part of the value chain.”

According to data from the US Geological Survey, the Philippines' nickel production reached 334,000 mt in 2020, second only to Indonesia, and the country also ranks high in global reserves.