The Philippines' nickel ore exports to Indonesia will surge this year due to Indonesia's control over domestic nickel ore production. DMCI Holdings expects the export volume to rise from 1 million tons in 2023 to 5 - 10 million tons, but the growth trend is hard to sustain.

The Philippines is the world's second-largest nickel ore producer, with far less downstream processing than Indonesia. Last month, its proposal to limit raw ore exports to pressure miners to build smelters was rejected by Congress. However, some Philippine miners haven't given up. DMCI is studying smelter feasibility with Nickel Asia, and its progress depends on mine exploration. It expects to export 2.5 - 3 million tons next year.