Mining executive Dante Bravo, a key figure in the Philippine Nickel Association and president of Global Ferronickel Holdings Inc., has expressed optimism for the country’s nickel industry in 2025 despite current challenges.
Speaking at the Mining Philippines Policy Forum in Mandaluyong City, Bravo said that this year’s production slowdown and low prices were primarily due to adverse weather conditions and the impact of a weakening Chinese economy, the world’s largest nickel importer.
Bravo said that the end of the La Niña phenomenon will positively affect nickel production. He anticipates a rebound in nickel demand driven by the growing need of electric vehicle (EV) batteries, as industries transition to sustainable energy accelerates.
“With China’s ongoing economic stimulus, we expect a rebound in nickel prices next year,” Bravo said of a projected sharp increase in demand for transition metals. He said the demand for nickel will significantly rise between 2028 and 2030, coinciding with a predicted boom in EV patronage.
According to the Mines and Geosciences Bureau, the country’s metallic mineral production fell by 6.69 percent in the first half of 2024, with nickel ore production down 19.42 percent due to lower global prices and output. The average nickel price dropped by 27.7 percent from the previous year, underscoring the sector’s current difficulties while also hinting at potential future growth.
