Connect with us

Hi, what are you looking for?

News

Glencore interested in expanding PHL in-country mineral processing

REUTERS

SWISS multinational Glencore plc is hoping to support Philippine plans to expand in-country mineral processing, Trade Assistant Secretary Glenn G. Peñaranda said.

In a briefing on Monday, Mr. Peñaranda said: “Glencore is involved in the processing of our minerals. This is important because we are fortunate that the Philippines has a lot of minerals like nickel, copper and cobalt, which are very important since these are needed for EVs, and also power batteries that are needed for renewable energy projects,” Mr. Peñaranda said.

Trade Secretary Alfredo E. Pascual said at a conference of the Financial Executives Institute of the Philippines in Makati City on Monday that “Mineral processing is crucial given our resources of green metals… (that) can be used for downstream industries such as electric vehicle (EV) battery manufacturing, hyperscale data centers, and renewable energy projects.”

“The Philippines can be a vital partner for these critical minerals, not as an exporter of raw ores, which is what is happening now, but as a processor and producer of semi-finished and finished products. We have Indonesia as a model,” he added.

Indonesia suspended nickel exports in 2020 in a bid to do more processing in-house. The Philippines, Indonesia, and Australia are some of the biggest ore exporters because of their proximity to China, where nickel is manufactured into stainless steel, though new-energy applications are growing for the metal.   

The Mines and Geosciences Bureau estimated the value of metallic mineral output in the first nine months of 2022 at P175.61 billion, up 29.21%. — Revin Mikhael D. Ochave

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Ava Whetstone-Magee, the founder of Avalanche Equestrian talks about the lightbulb moment which led her to start her business at the age...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.