On June 7, the Philippine Bureau of Mines and Geosciences said the Philippines' nickel ore production in the first quarter totaled 4 million dry metric tons, up 5.3% from 3.8 million dry metric tons in the same period last year.
The agency said in its quarterly report that only 13 of the country's 33 nickel mines recorded production during the period, with the rest not producing due to adverse weather conditions or under maintenance.
In terms of value, nickel ore production in the Philippines rose 43 percent to 11.53 billion pesos ($205.89 million) at an average price of $11.78 per pound, MGB said.
As a major nickel supplier to top metals consumer China, the Philippines is optimistic about its exports of metal minerals this year, especially nickel and gold.
Nearly 97 percent of nickel ore exports over the past two years have gone to China, and demand is expected to increase this year after the country lifts strict COVID-19 measures and reopens its economy, MGB said.
However, as top producer Indonesia ramps up production, the Philippines' increased supply of nickel ore has added to an expected global glut of the material used to make stainless steel and batteries for electric vehicles.
Meanwhile, the Philippines is struggling to attract investment in its domestic nickel processing industry as the resource-rich country looks to squeeze value out of its metals and minerals sector, similar to what Indonesia has been doing.
