Philippine mine crackdown rattles global nickel markets

Manila

AS the Philippines' tough-talking new president ratchets up a campaign against irresponsible mining, the suspension of a quarter of the country's nickel mines and the risk of more action to come is spooking global nickel markets.

The South-east Asian nation is China's biggest supplier of nickel ore (which is used to make stainless steel) and with few alternative suppliers available, the crackdown pushed nickel prices up 13 per cent last month.