NAC Q1 nickel ore sales were stable
Nickel Asia Corp. (NAC), the largest nickel producer in the Philippines, recently released its first quarter report.
Its operating mines sold a combined 2.39 million wet metric tons (WMT) of metric ore. The company was also able to deliver 1.79 million WMT of limonite ore to the Coral Bay and Taganito high-pressure acid leach (HPAL) plants, which accounted for the majority of its sales.
“We remain bullish on the nickel sector. Despite the current nickel surplus resulting from the ramp-up in Indonesian nickel production, the accelerating pace of electric vehicle adoption, evidenced by the 25 percent year-on-year increase in electric car sales for the first quarter of 2023, will continue to be the main driver of the nickel sector over the long-term,” NAC president and CEO Martin Antonio Zamora said.
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