Philippine Nickel
Industry Association
There are untapped nickel deposits in the Philippines and it will take time before these minerals can be translated into revenues because of the moratorium in issuing mineral production sharing agreement (MPSA) in mining, an authority in mining exploration revealed.
Global Ferronickel Holdings. (“FNI”), the second largest nickel producer in the Philippines and the largest single lateritic mine exporter in the world, announced today that it has signed a Memorandum of Cooperation with China State-owned Enterprise, Baiyin Nonferrous Group Co., Ltd. (“Baiyn”).
Global Ferronickel Holdings Inc. is spending $25 million to boost the capacity of its Ipilan mine in Palawan province, its president said Tuesday. The country’s third largest producer of nickel ore said it was planning to boost capacity to 3 to 4 million metric tons from 1.5 million in within the next two to three years.
The Department of Environment and Natural Resources (DENR) announced on Tuesday, September 27, that it has recommended the suspension of 20 mining firms following the completion of its audit of mining operations in the country. Environment Undersecretary Leo Jasareno made the announcement in a news briefing where he and Environment Secretary Gina Lopez presented the results of the audit.
DMCI Holdings, Inc. posted P7.5 billion in consolidated core income for the first nine months of 2014, a 6% decline from the P8.0 billion reported during the same period last year. The drop in core income was attributable to the weakened operating results of its power and construction businesses.