SMM10, March 28 / PRNewswire-FirstCall-Asianet /-- Asia Nickel, the largest nickel producer and exporter in the Philippines, said on Wednesday that it had suspended operations at its HMC nickel mine in the Karaga region from Tuesday until November 10, in an effort to contain the spread of the virus after 19 employees tested positive for novel coronavirus.
The mine, located in Surinago, the main mining area in the Philippines, shipped 2-3 ships a month this year, mainly low-nickel high-speed rail. Last year, the mine accounted for 11 per cent of total ore sales in the Asian nickel industry.
Due to the approaching rainy season in the Suligao mining area (November-April of the following year), coupled with the recent typhoon, the weather is bad, and shipments are also affected, the early closure of the mine actually has little impact. However, the news of the epidemic in the mining area has been released, and the market's panic about the shortage of raw materials has intensified. Nickel prices have soared 5000 yuan / ton all the way today. The actual impact of the epidemic on the mining side is not clear for the time being, and it is only driven by market sentiment at present.
