Manila pitches itself as alternative for western countries seeking to diversify sources of EV battery material
The Philippines is scouting for western investment to further develop its nickel reserves, pitching itself as an alternative to the China-dominated supply chain for the critical battery metal. The country, which is the world’s second-largest producer of nickel, is seeking a critical minerals agreement with the US and investment from foreign companies to build more refining plants, as it taps into rising concerns over China’s control of the electric vehicle ecosystem.
But no deal is on the table for now due to US reluctance to sign an agreement in the middle of an election year, officials in Manila said. The Philippines is also aiming to produce “greener” nickel with the help of investors by using renewable energy to power smelters, Rodolfo said — distinguishing it from Indonesia, which relies on coal-fired power plants extensively, earning it a reputation as a producer of “dirty” nickel.
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