(Interaksyon) MANILA— China’s Zhejiang Huayou Cobalt Co Ltd 603799.SS is looking to build the Philippines’ third nickel ore processing facility in partnership with a Philippine miner, two industry sources with knowledge of the proposal said on Wednesday.
The Philippines, a major producer of nickel ore, wants to woo investment in domestic processing of the material used in making stainless steel and electric vehicle batteries, and hopes to boost value of its exports.
Huayou, which has also signed deals to build high-pressure acid leach (HPAL) plants in neighboring Indonesia, is in exploratory talks to construct a similar facility in the Philippines in partnership with a local nickel ore producer, the sources said.
Huayou did not immediately respond to a request for comment.
Philippine Trade Undersecretary Ceferino Rodolfo said earlier on Wednesday the government was looking at two potential projects, one proposed by a Chinese group and another that may involve a non-Chinese company… Read More