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The nickel associations of Indonesia and the Philippines on Friday signed a memorandum of understanding on nickel cooperation, Indonesia’s coordinating ministry of economics said.

The agreement includes the exchange of information, joint development of nickel downstream processing technology, and human resource development to support a sustainable nickel industry ecosystem, the ministry said.

The signing was witnessed by Indonesia’s chief economics minister and the Philippines’ trade and industry minister.

“The Philippines will no longer be only an exporter of raw nickel ore as it will be integrated into a higher-value regional supply chain, while Indonesia will secure a reliable supply for its battery and stainless industries,” Philippines’ trade and industry minister said.

Indonesia exported $9.73 billion of nickel products last year, Airlangga said, adding that smelters in Indonesia required supplies with the proper silicon-to-magnesium ratio which can be supplied by the Philippines.

Source: Mining.com