DTI Says US Will Extend Grant for Nickel Ore Processing in PH

The US government plans on extending the grant for nickel ore processing in the Philippines according to the Department of Trade and Industry (DTI). The nickel ore processing would be used for the making of batteries via a partnership with an American firm.

The Philippines took part in the Indo-Pacific Economic Framework for Prosperity (IPEF) Ministerial Meeting through the DTI. In the meeting, additional investment opportunities in terms of green metals processing on copper, cobalt, nickel, and other non-fossil-based energy sources in the PH.

DTI released a statement saying that the US will announce another grant to the country which includes nickel ore processing via a partnership with an American company that owns patents in battery manufacturing.

DTI has said that “The US firm supplies US military and critical industries including hyper scale data centers, renewable energy projects, and long-haul trucking companies,”

The to-be-announced grant was given in addition to another grant for the conduct of a feasibility study on the first offshore wind farm in the Philippines. This first grant was noted to be an IPEF US vision.

Ahead of the ministerial meeting, DTI Secretary Alfredo E. Pascual had a conference call with United States Commerce Secretary Gina Raimondo in which they spoke about investments aimed at boosting the PH’s participation in value chains of high-value critical products.

During the IPEF Ministerial Meeting, the PH brought up the current lack of market access. With the restricting policy measures and legislations, the US can use the IPEF as a way to give equitable access or preferential treatment to other countries for trade.

Source: Manila Bulletin