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Renewed Threat to Stop Philippine Exports of Nickel Ore

from ASA Materials Market Digest©

As July drew to a close, LME nickel prices were on the rebound above the $10,000 per tonne level last seen in mid-April. The surge follows a renewed threat to the mining industry by Philippine President Rodrigo Duterte, who said he might consider stopping the export of unprocessed raw materials due to environmental concerns. The Philippines is the world’s largest exporter of nickel ore. Duterte said he wants to see all processing done within his country before exporting and would draft a new law to regulate the mining industry. Mining interests thought they were in the clear after a hardline environment secretary, who threatened mine closures, was rejected for office in May, but the country’s controversial president has resurrected their fears. Visit MY ASA for the latest and archived installments of ASA’s Materials Market Digest©. more

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