In order to continue its surging production and growth, DMCI Mining Corp. announced its plans to open two new mines to be operational in December this year, and in the second quarter of 2024.
According to a report by The Philippine Star, the company’s prospective first mine is a nickel mine in Zambales which is estimated to produce about 20 million metric tons (MT).
DMCI Mining President Tulsi Das Reyes said that currently, they are currently in the process of procuring necessary operational permits to begin operations before the year ends.
The new mine will be under Zambales Chromite Mining Co. (ZCMC), situated inside the Zambales Diversified Metals Corp. (ZDMC) property.
On the other hand, the company stated that the second mine is projected to produce approximately 70 million MT, but the location of the project was not disclosed.
The two new mines are anticipated to produce medium to high-grade nickel ores and help offset the depletion of the Berong mine.
Reyes is positive that DMCI will reach production and shipment record volumes this 2023.
In the first half of 2023, DMCI Mining recorded a 25 percent drop from its net income reaching PHP 708 million compared to PHP 1.09 billion in 2022. The decrease is due to lower selling rates and higher expenses in terms of shipments, fuel consumption, depreciation, amortization, and labor costs.
