The Philippine Nickel Industry Association (PNIA) signed a memorandum of understanding (MOU) with the Power Battery Application Committee of China Industrial Association of Power Sources (CIAPS-PBA) to explore possible investments in the local nickel sector.
PNIA said in a statement that China, being the world’s largest producer of electric vehicles, is one of the country’s “strategic partners in the sustainable e-vehicle industry.”
“We believe that there is great opportunity for the nickel industry in the Philippines. Aside from the country’s wealth of natural nickel reserves, champions of nickel mining are encouraged by developments that are vital in driving business and investment growth around the world,” PNIA Chairman Emeritus Clarence J. Pimentel Jr. said on Sunday.
Citing the International Nickel Study Group, PNIA said “the role of nickel in enabling a sustainable future presents opportunities for the Philippines.”
“The industry remains robust and productive in trying to meet the global nickel ore demand to deliver the much needed impetus in many sectors that drive industrialization and sustainability around the world,” it added.
Under the MOU signed by the two groups, there would be a promotion for “cooperation, networking, linkages and possible joint venture and investments among PNIA and CIAPS-PBA member companies.”
The MOU would provide a “platform for possible collaboration on the development of a nickel industry road map that would highlight linkages and opportunities for the power battery sector in the years to come,” according to the PNIA.
PNIA added that there would also be information sharing between the two groups on “policies, trading and investments for nickel ore that will impact the production of batteries for electric vehicles.”
“We are glad to be a part of this strategic partnership and we look forward to the valuable output it will bring to both industries. Together we can make the industry more productive and sustainable and as such, will enable us to contribute more to each of our own country’s economies,” said Pimentel.
Citing the Philippine Statistics Authority, the PNIA said mining industry “contributed to the regional economies where they operated with a significant portion of 18 percent and 17 percent of the GDP of the Philippines Southern Luzon region and Northeast Mindanao region, respectively in 2018.”
The PNIA was established in 2012, to advance the development and promote an inclusive and sustainable growth for the country’s nickel industry.
Founding members of PNIA include Agata Mining Ventures Inc., Carrascal Nickel Corp., Citinickel Mines and Development Corp., CTP Construction and Mining Corporation, DMCI Mining Corp., Marcventures Mining Development Corp., and Platinum Group Metals Corp.