Nickel Asia Corporation’s (NAC) mining subsidiaries have received extensions and renewals for their mineral production sharing agreements (MPSA) from the Department of Environment and Natural Resources (DENR).
In a disclosure to the Philippine Stock Exchange on Tuesday, NAC announced that its subsidiary Hinatuan Mining Corporation was given a fifteen-year extension of its 25-year term for its MPSA with the government. The DENR also lifted the company’s suspension on its operations in a 1,165-hectare project in Manicani Island in Guiuan, Eastern Samar.
Another subsidiary, Cagdianao Mining Corporation received a new 25-year MPSA with the government and East Coast Mineral Resources Co. Inc. following the expiration of its first term on November 19, 2021. The new term covers a 697-hectare area in Cagdianao, Dinagat Islands.
