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[SMM translator] PNIA: expects Philippine nickel production to fall by 10 to 20 per cent in 2019
translation
16:59PM
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM12, July 7 -: PNIA (Philippine Nickel Industry Association) expects nickel production to fall by 10-20% in 2019, although the company is expected to make a profit, economic activity will be driven by infrastructure plans.

Mr. Bravo is also president of Global Ferronickel Holdings Inc (FNI), an exporter of listed nickel mines.

According to Mr. Bravo, FNI nickel production will fall to a range of 21.2-215000 metal tons this year, down from 370000 metal tons a year ago.

Assuming a similar decline next year, nickel production could fall to 150000 metal tons, he said.

Due to low prices and adverse weather, Philippine nickel production began to decline in 2016. Recently, the Ministry of Environment and Natural Resources, led by Secretary-General Roy A. Cimatu, has also issued orders for restricted production areas based on the annual production of the mine.

"if you limit open areas, that means you have lost some flexibility," says Bravo. He also pointed out that the Philippines exports more than 90 per cent of its nickel to China, China's largest market.

He added that the Philippines also has high electricity costs, while electricity in China is relatively cheap and there are many nickel processing plants.

Asked about the price of nickel in 2019, Bravo said, "overall, we will achieve moderate growth in 2019. We also hope to continue to adhere to the "Build, Build" policy implemented by the Government, which I firmly believe will support economic growth in 2019.

He also stressed that if the price of low-grade ore rises, it will encourage more production.

Bravo also pointed out that "because of the low price of low-grade ore, we have been shipping more medium-grade ore," and pointed out that this trend may continue into 2019.

At present, there are 48 metal mines in the Philippines, 30 of which are nickel mines.

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