Nickel mining indefinitely suspended in southern Philippines
The Philippines was the world's second-largest nickel ore producer in 2018 after Indonesia.
The Philippines was the world's second-largest nickel ore producer in 2018 after Indonesia.
Antam may also propose a 10-year extension for its mining permit in the Pongkor gold mine.
Philippine nickel miners are likely to ramp up ore output by next year, but their production capacity is limited by a number of factors.
The Philippines was the world's second-largest producer of nickel ore in 2018, selling most of its output to top buyer China.
Multinational mining companies looking to kick off large-scale underground gold projects have struggled in recent years.
BMO believes global cobalt consumption for the EV sector will hit 86,000 tonnes in 2015, down from the 97,000 tonnes previously anticipated.
The miner is backed by billionaire Andrew Forrest.
It is also reported that the Philippines Minister of Resources will issue a decree to suspend all mining activities in the ARMM.
LME three-month nickel hit a five-year high of $18,850 per tonne on Monday.
While Indonesia has an estimated nickel ore reserves of 2.8 billion metric tons, proven stockpiles are only about 600 million to 700 million tonnes.