The local nickel industry is teaming up with the most successful battery association in China to take part in one of the world's power economies on the booming electric vehicle industry.
Recently, the Philippine Nickel Industry Association (PNIA) inked a memorandum of understanding (MOU) with the China Industrial Power Sources Association (CIAPS) on connections and potential joint venture and investment between the two organizations.
China, the world's largest electric vehicle manufacturer, continues to focus on the nickel mining industry in the Philippines as a strategic partner in the green electric vehicle market.
China is the largest consumer of nickel in the world with more than 50 percent of total use. Approximately 90 percent of the nickel ores in the country are shipped to China.
PNIA chairman emeritus Clarence Pimentel said the nickel industry in the Philippines continues to have great potential in terms of attracting investments.
"In addition to the abundance of natural nickel deposits in the the region, nickel mining advocates are motivated by innovations that are crucial to driving business and investment growth around the world," he said.
Nickel's position in creating a sustainable future boosts the the economic potential of the Philippines, according to the International Nickel Study Group (INSG).
The industry remains robust and productive in trying to deliver the the much-needed impetus in many sectors that drive industrialization and sustainability around the world to meet the global demand for nickel ore.
In the meantime, the MOU will provide a shared forum for creating a roadmap for the nickel industry that would demonstrate the links and prospects for the power battery market in the years to come.
Also one of the MOU's main objectives is to share information on strategies, markets, and investments in nickel ore that will enhance the development of batteries for electric vehicles.
CIAPS has over 360 representatives involved in developing, producing, distributing and advertising batteries and products related to batteries.
Global Ferronickel Holdings Inc., CTP Construction and Mining Corp., Citinickel Mines and Development Corp., Carascal Nickel Corp., DMCI Mining Corp., Marcventures Mining and Development Corp., and Agata Mining Ventures Inc. are some of the well-known companies that comprise the PNIA.
Meanwhile, the Mines and Geosciences Bureau (MGB) disclosed that nickel output rose 3 percent to 11.306 million dry metric tons (DMT) in the first half of this year.
The United States Geological Survey noted in a report published in February that in 2018, Indonesia was the top nickel producer with 560,000 tons, followed by the Philippines, with 340,000 tons.