Nickel Gets Fresh Supply Risk as Philippines Mulls Export Tax
- Southeast Asian nation may join Indonesia in refining push
- Philippines accounts for about 11% of global mine supply
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The Philippines, the world’s second-biggest nickel supplier, may follow neighboring Indonesia by taxing exports of the metal, adding to supply uncertainties as the market adjusts to a wave of new demand from electric vehicles.
The Southeast Asian nation is considering fees on exports among measures to encourage investment in processing plants, Environment and Natural Resources Secretary Antonia Yulo Loyzaga said in an interview in her office on Monday.