The Ipilan Nickel Corporation (INC), an affiliate of Global Ferronickel Holdings, Inc. (FNI), was able to ship out 54,700 wet metric tons of medium-grade nickel ore as its maiden shipment from its mine site from Brooke’s Point, Palawan.
In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, FNI said that INC shipped out the nickel ore to Guangdong Century Tsingshan Nickel Industry Co. Ltd. in China.
“After years of careful planning and regulatory compliance, this inaugural shipment is a remarkable milestone for our Group and bodes well for the country’s economic and social governance goals at this critical time,” FNI chairman Joseph Sy said in a statement.
The company is targeting to ship out 500,000 WMT this year, with increased production in the coming years, as FNI begins its year-round operations.
Under its mineral production sharing agreement (MPSA), INC is allowed to engage in exploration, development, and utilization for commercial purposes of nickel and other mineral deposits in the 2,835-hectare area in Brooke’s Point, Palawan.
The mining site has an annual production rate of 1.5 WMT of medium to high-grade nickel ores with a mine life of at least 10 years.
“We are proud of this development because it sets the tone for the optimal pursuit of our social development and environmental protection objectives. INC can now roll up the score in community engagement with various socio-civic initiatives in place from the beginning of our operations,” Sy added.
