US, Japan, & Philippines considering establishing nickel supply chain
The US, Japan, and the Philippines will hold a trilateral summit in Washington on April 11, establishing a nickel supply chain on the agenda. The US and Japan collaborate to diversify supply chains for non-Chinese battery materials. Japan's Ministry of Economy, Trade and Industry (Meti) has formalized alliances with resource-rich countries to meet US market demand, a key element of Japan's battery strategy.
The Philippines may play an essential role in forming this new supply chain, as it appears to be the best source of non-Chinese nickel that complies with the US Inflation Reduction Act (IRA) requirements. Japan and the Philippines already have strong ties in nickel production. Japanese metals producer Sumitomo Metal Mining operates two nickel high-pressure acid leach smelters in the Philippines, including the Coral Bay and Taganito projects.
