BOI: Glencore to expand mining, mineral processing operations in Philippines
By Ted Cordero | GMA News Online | January 21, 2023 4:56 PM
Glencore, a Swiss multinational diversified natural resource company, is planning to expand its mining and mineral processing operations in the Philippines, the top official of the country’s Board of Investments (BOI) said.
At a news forum on Saturday in Quezon City, Trade Undersecretary and BOI managing head Ceferino Rodolfo said that Glencore discussed with President Ferdinand Marcos Jr. and Trade Secretary Alfredo Pascual the company’s intent to expand its operations in the country on the sidelines of the World Economic Forum in Davos, Switzerland.
Glencore owns 78% of the Philippine Associated and Refining Corp. (PASAR), which operates a copper smelting plant in Leyte.
In particular, Rodolfo said Glencore wants to “go into nickel processing” as they saw a potential for electric vehicles. Nickel is a key mineral in making batteries for electric vehicles.
The BOI chief said the Swiss minerals giant is planning to mine and process nickel near its PASAR plant.
“But they’re open for other locations that have potential nickel deposits,” Rodolfo said.
Source: GMA News Online