AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home Business

NAC foregoes mining plans in Davao

AngMinero News by AngMinero News
February 27, 2024
in Business, News
26 2
0
Nickel Asia revenue down 13%, net income up 11%
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Nickel Asia Corp. (NCA), the Philippines’ largest nickel ore producer, has decided to forego its mining endeavors in Davao Oriental.

In a stock exchange filing, NCA disclosed that its previously declared letter of intent (LOI) to serve as the sole and exclusive mining service contractor for Hallmark Mining Corp. and Austral-Asia Link Mining Corp. has been terminated after the involved parties failed to reach an agreement on commercial terms concerning the mineral production and sharing agreements (MPSAs).

NCA first reported that Hallmark and Austral-Asia accepted its LOI to be the sole and exclusive mining service contractor for the two companies’ MPSA in February 2023. Hallmark’s MPSA covered 4,999.71 hectares (ha) of land in Mati and San Isidro, Davao Oriental while Austral-Asia’s MPSA covered another 5,000 ha in Mati and Gov. Generoso, Davao Oriental.

NCA also planned to conduct a feasibility study to assess the economic and technical viability of establishing a high-pressure acid leach (HPAL) ore, or equivalent mineral, processing plant within the said MPSA areas.

Despite the terminated plans, NAC has assured that this development will not adversely affect its existing and upcoming projects. The mining company is currently gearing up for mining initiatives in Bulanjao, Palawan, and Manicani, an island in Leyte Gulf. NAC’s annual production targets include approximately 4 million wet metric tons (WMT) from Bulanjao and around 2 million WMT from Manicani.

Tags: AUSTRAL-ASIA LINK MINING CORP. MINERAL PRODUCTION AND SHARING AGREEMENTSDavao OrientalHallmark Mining Corp.miningMPSANCAnickel asia corp.

Related Posts

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal
News

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

September 8, 2025
Dinapigue Mining to Deploy 750 Concrete Tetrapods in PHP 22M Deal with CSC
News

SMMCI, 11 Barangays Ink Local Hiring Agreement in Surigao City

September 5, 2025
MGB releases top mining contributors in reforestation
News

MGB Launches First National Workshop to Step Up Illegal Mining Crackdown

September 5, 2025
DOE investigates SMPC incident in Antique
News

SMPC Earns Merit Award at Philippine Quill Awards for Website Redesign

September 5, 2025
BOI, UP Push Feasibility Work on Copper Rod Facility
News

BOI, UP Push Feasibility Work on Copper Rod Facility

September 5, 2025
DOE investigates SMPC incident in Antique
News

Semirara Backs DOE Study on Coal Phaseout Impacts

September 4, 2025

FEATURED POST

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

September 8, 2025
Dinapigue Mining to Deploy 750 Concrete Tetrapods in PHP 22M Deal with CSC

SMMCI, 11 Barangays Ink Local Hiring Agreement in Surigao City

September 5, 2025
MGB releases top mining contributors in reforestation

MGB Launches First National Workshop to Step Up Illegal Mining Crackdown

September 5, 2025
DOE investigates SMPC incident in Antique

SMPC Earns Merit Award at Philippine Quill Awards for Website Redesign

September 5, 2025

EDITOR PICK'S

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

September 8, 2025

SMMCI, 11 Barangays Ink Local Hiring Agreement in Surigao City

September 5, 2025

MGB Launches First National Workshop to Step Up Illegal Mining Crackdown

September 5, 2025

SMPC Earns Merit Award at Philippine Quill Awards for Website Redesign

September 5, 2025

BOI, UP Push Feasibility Work on Copper Rod Facility

September 5, 2025

Semirara Backs DOE Study on Coal Phaseout Impacts

September 4, 2025

Philippine Metallic Sector Value Jumps 15.1% Year-on-Year to PhP135.62 Billion in H1 2025

September 4, 2025

Recent News

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

Taguig RTC Rules Joseph Sy is Filipino, Declares BI Detention Illegal

September 8, 2025
Dinapigue Mining to Deploy 750 Concrete Tetrapods in PHP 22M Deal with CSC

SMMCI, 11 Barangays Ink Local Hiring Agreement in Surigao City

September 5, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In