Philippines May Replace Indonesia As World’s Largest Nickel Producer

Recently, in a report, with the entry into force of Indonesia ’s nickel ore export ban, the main producer country, global nickel production will decline significantly in 2020.

The increase in production in the Philippines will slightly offset this decline, and some of the mines currently suspended will be put into operation again, while the country aims to fill a possible supply gap caused by Indonesia’s export ban.

Analysts predict that output from other major producers such as Russia, Australia and Canada will maintain a stable year-on-year growth rate.

Although the output of the Philippines is increasing and the output of other major producers (Australia, Canada, Russia, etc.) remains stable, due to the implementation of the Indonesian nickel ore export ban, global nickel ore production will decline by 15.4% year-on-year in 2020.

There is a prediction that from 2020 to 2029, the average annual growth rate of global nickel production will be 1.7%, which is significantly slower than the average annual growth rate of 6.7% from 2010 to 2019. This was due to the increase in nickel prices at that time and the strong output of Indonesia before the ore export ban was promulgated in 2014.

By 2029, global nickel production will reach 2.8 million tons, up from 2.1 million tons in 2020.

In 2017, with the introduction of strict environmental regulations, Indonesia overtook the Philippines to become the world’s largest nickel producer. However, as the Indonesian government bans nickel ore exports from 2020, the Philippines may regain its status as the world’s largest nickel ore producer.

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