As reported by two industry insiders with knowledge of the project, China's Zhejiang Huayou Cobalt Co Ltd is looking to develop the Philippines' third nickel ore processing facility in collaboration with a Philippine miner.

According to the sources, Huayou, which has inked agreements to develop high-pressure acid leach (HPAL) plants in Indonesia, is in preliminary talks to establish a similar facility in the Philippines in collaboration with a local nickel ore miner.

Huayou did not reply quickly to a request for comment.

Huayou Cobalt Co., Ltd principally provides cobalt in the form of cobalt tetroxide, cobalt oxide, cobalt carbonate, cobalt hydroxide, cobalt oxalate, cobalt sulphate, and cobalt monoxide. Its headquarters are in Zhejiang's Tongxiang Economic Development Zone.