Categories: Base Metals / General Market Commentary / Precious Metals
Topics: General Base Metals / General Market Commentary / General Precious Metals

As Philippines announces more mine suspensions, nickel prices go up

As Philippines announces more mine suspensions, nickel prices go up

Philippines’ Department of Environment and Natural Resources recommended the suspension of 20 more mines, as part of its nationwide audit aimed at tackling environmental violations.

Between July and mid-September, the DENR had already asked for a moratorium on some 10 mines, most of them nickel operations, after it found they had inadequate mining practices and a lack of proper siltation prevention facilities, were carrying out technical violations, and were not complying with planned social development efforts.

Since he took power in June, President Rodrigo Duterte has made it clear that he wants his country to pursue stricter mining standards. If doing so implies shutting down all operations, Duterte has said he’s willing to do so.

To continue reading please click link http://www.mining.com/philippines-announces-mine-suspensions-nickel-prices-go/