Philex Mining Corp., one of the largest copper and gold producers in the Philippines, said on Tuesday it is considering entering the nickel mining sector through a potential mine in the main island's Semilez province.
Philex president and chief executive officer Eulalio Jr. 'Given that the transition to this green energy is now a global issue, we are looking at moving into nickel,' Mr. Austin said on the sidelines of an industry conference.
Mr Austin declined to provide further details on the prospects for the Sangris nickel mine, which he said was still in the exploration phase.
The Philippines is a major supplier of nickel ore to China, the largest consumer of the metal, and currently has more than 30 nickel mines in operation.
Miners see nickel as a key ingredient in making electric vehicle batteries, a bright spot amid an expected surge in global demand for electric vehicles.
Austin also said Philex plans to start the long-delayed Silangan copper and gold project into commercial operation in the first quarter of 2025. The Silangan mine, located in northern Surigao Province in southern Surigao Province, cost $224 million to develop and is one of the country's largest mining projects. Austin said Philex remained open to attracting foreign investors to develop and operate Silangan. After closing its decades-old Padcal mine to the north, Silangan will become its main source of income.
