US, Philippines Eye Partnership to Cut China's Nickel Dominance [BNN Bloomberg (Canada)]
SUMITOMO MTL MNG UNSP/ADR (SMMYY)
NASDAQ:AMEX Investor Relations:
smm.co.jp/e/ir
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Source: BNN Bloomberg
One measure under consideration is a trilateral arrangement through which the Philippines would supply raw nickel material, the U.S. would provide financing, and a third country such as Japan, South Korea or Australia would offer the technology required for smelting and refining, according to people familiar with the matter. Talks with the Philippines — the world's second-biggest mined nickel producer — are still in early stages, with key elements of any potential deal still to be worked out, including whether the US could deliver on financing, said the people, who requested anonymity to discuss private deliberations. The Philippines government didn't immediately respond to a request for comment Wednesday, a public holiday in the nation. Spokespeople for the White House didn't immediately respond to requests for comment. Discussions come amid growing concern in Washington over China's dominant position over nickel processing in Indonesia, the top supplier of the critical minera
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