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Philippines says Q1 nickel ore output rises 3% on year

Published 05/30/2019, 05:08 PM
Updated 05/30/2019, 05:10 PM
Philippines says Q1 nickel ore output rises 3% on year

MANILA, May 30 (Reuters) - The Philippines' nickel ore
production in the first quarter rose 3% from a year earlier to
2.97 million dry metric tonnes, despite zero output from more
than half of the country's 28 mines, the government said on
Thursday.
Only 10 mines reported output for the quarter, the Mines and
Geosciences Bureau (MGB) said in its quarterly production
report.
The Philippines is the world's No. 2 nickel ore supplier,
behind Indonesia which has been ramping up shipments after
lifting a ban on metal exports in 2017.
Buyers in China and Japan process Philippine nickel ore to
make stainless steel and for use in battery materials.
Eighteen Philippine nickel mines did not operate either
because of unfavourable weather or they were under maintenance
or suspended due to environmental issues, the MGB said.
The country's copper concentrate output in the first quarter
grew 16% to 81,059 dry metric tonnes, while gold production
jumped 12% to 5,651 kilograms, it said.
The MGB welcomed the recent passage of a law exempting gold
sales by small-scale miners to the central bank from excise and
income taxes to beef up the country's foreign exchange reserves
and prevent smuggling. "(It) will not only boost the GIR (gross international
reserves) of the country but also increase the country's annual
total metallic production value," it said.
The agency is hopeful that a pending proposal to change the
country's mining tax regime, which will increase the
government's share in mining revenues, will get congressional
approval.

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