Philippine nickel mining group rejects proposed tax on ore exports

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Philippine nickel mining group rejects proposed tax on ore exports
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The head of the Philippine nickel mining industry warned on Tuesday that the government’s plan to impose an up to 10% tax on nickel ore exports could force local producers to close up shop.

is China’s biggest nickel ore supplier

“We need to be heard so the government will understand our side,” said Bravo, who is also the president of miner Global Ferronickel Holdings Incis looking at taxing nickel ore exports to encourage miners in the world’s second-biggest supplier of the material – which is used in making stainless steel and batteries for electric vehicles – to invest in local processing instead of just selling raw ore.

The idea is to follow in the footsteps of Indonesia, where a ban on nickel ore exports has attracted massive investment into processing plants. Indonesia wants to replicate the policy for other metals, including tin. The proposed tax on mineral ore exports is part of the overall plan to establish a new fiscal regime for the industry to boost government revenue.

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