THPAL commences Chromite Production
by Philippine Resources - December 07, 2021
Taganito HPAL Nickel Corporation (THPAL), a mineral processing plant and a subsidiary of Sumitomo Metal Mining Co., Ltd (SMM), officially started its commercial operation of chromite last March 2021 to produce chromite concentrate.
The company decided to commercially extract chromite to be used primarily as a raw material for stainless steel. With the Chromite Recovery Plant of the company, THPAL can now recover chromite simultaneously during the production process of nickel and cobalt mixed sulfides, the first intermediate product of the company.
Chromite has brownish to black-colored mineral and is refined and processed into the intermediate product ferrochrome, widely used as a raw material for stainless steel and other special steels. This can also be used as paint pigment to produce Chrome Yellow for the textile industry, where large amounts of chromium compound as chemical to fix a dye are commonly used.
According to Engr. Rey Prado, head of THPAL Chromite Recovery Plant, “It has been shown that there is an increase of the worldwide demand for chromite from November 2018 and the market is still growing. With this, the company’s target is to produce high quality chromite for quarterly shipment on demand of the customer.”
By efficiently recovering not only nickel and cobalt but also its by-products such as scandium and chromite in THPAL, it will increase the cost competitiveness of its HPAL technology. This will likewise provide new materials for the stainless-steel industry, which is the backbone of the nickel business.
By doing so, SMM’s presence in the global nickel industry through its subsidiary companies will push the realization of its vision of “Becoming the World Leader in the Non-Ferrous Metals Industry” by 2030. This will likewise add value to the low grade ores and increase the contribution of the company to employment generation and to the coffers of the government.
Brief Description of THPAL
Taganito HPAL Nickel Corporation (THPAL) is a mineral processing plant located at Taganito Special Economic Zone, Barangay Taganito, Claver in the province of Surigao del Norte, which employs the highly efficient High Pressure Acid Leaching (HPAL) technology to turn low-grade nickel ore into a manufactured intermediate product of high commercial value.
With its estimated cost of 1.6 billion US Dollars, it became one of the largest foreign direct investment projects in the Philippines.
THPAL’s plant is designed to have an annual production of 30,000 metric tons of Nickel and 2,640 metric tons of Cobalt in the form of Ni-Co Mixed Sulfide. This Ni-Co Mixed Sulfide will be exported to Nihama Nickel Refinery in Ehime Prefecture, Japan.
THPAL is likewise the country’s sole producer of scandium – the rarest mineral on earth -- and on April 2021 THPAL started the commercial operation of its Chromite Recovery Plant to produce chromite concentrate.
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Philippine Resources - June 28, 2022
THPAL MILESTONES IN THE PHILIPPINES
Photo credit: Taganito HPAL Nickel Corporation The Taganito HPAL Nickel Corporation (THPAL), a mineral processing plant, was incorporated in the Philippines on August 22, 2008 to engage mainly in the manufacture and export of Nickel and Cobalt Mixed Sulfide. THPAL’s Plant is designed to have an annual output of 30,000 MT of Nickel and 2,640 Metric of Cobalt in the form of Ni-Co Mixed Sulfide with a project life span of 30 years. This Ni-Co Mixed Sulfide will be exported to the Nihama Nickel Refinery in Ehime Prefecture, Japan. However, with the continuous research and development, THPAL pioneered the production of Scandium in the country in 2019 and further, successfully conducted its Chromite commercial production in April 2021. The Taganito HPAL Nickel Corporation is a subsidiary of Sumitomo Metal Mining Co.,Ltd Japan and sister company of Coral Bay Nickel Corporation (CBNC), the first company in the world to successfully employ the highly efficient High Pressure Acid Leaching (HPAL) technology that turns low-grade Nickel ore into a manufactured intermediate product of high commercial value. Over the last 8 years since its commercial operation in the country, particularly in the Province of Surigao del Norte, THPAL have been contributing in 5 major ways: Adding Value to the Low-Grade Ores Using the HPAL technology, THPAL optimizes the utilization of minerals by producing several rare mineral products from the low-grade ores, which is not of value before. Through its advance technology, THPAL produces Nickel and Cobalt in the form of MS Sulfide, Scandium and Chromite. Adding Value to the Environment The company advocates responsible environmental management to protect the environment beyond compliance and adheres to stringent safety measures, while operating its state-of-the-art plant facility equipped with Hydrogen Sulfide plant, Power Plant, Wastewater Treatment Facility, Sewage Treatment Plant, air pollution control facility and other pollution control mechanisms put in place to safeguard the people and the environment. The plant achieved its ISO 14001:2015 certification in 2017. Adding Value to the Communities THPAL started the implementation of the Social Development and Management Program prior to its commercial operation to address the clamor of the communities for an improved quality of life. To date, the company is supporting 536 college scholars, 699 senior citizens and 233 Persons with Disability, 12 people’s organizations with 306 members, 165 Barangay Health Works and other medical workers in the communities, and other 255 recipients. We have been responsible for the construction multi- million infrastructure projects like schools, roads, health centers, churches, to name a few. Adding Value to the Filipino Skills The company cultivates a diverse workforce where upon joining THPAL, were exposed to a wide array of skills that puts premium to their individual professions. They are not only trained to become experts in their own field, but to become responsible citizens of the communities. Adding Value to the Economy The entry of THPAL to the industry brought forth employment opportunities to thousands of locals. This is also considered as the region’s major economic driver with the infusion of 1.6B US dollar for the establishment of the project in Barangay Taganito, Claver, Surigao del Norte. The company does not only aspire to become the leading HPAL plant in the world but it believes that success in business is, when society grows with it by providing lasting benefits to the Filipino people and the world. The Taganito HPAL Nickel Corporation is Surigao del Norte’s pride in the Caraga Region.
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Philippine Resources - August 05, 2022
NICKEL ASIA CORPORATION ANNOUNCES P3.83B NET INCOME FOR H1 2022, UP 41% YoY
Photo Credit: Arrow Creatives Nickel Asia Corporation, the Philippines’ largest producer of lateritic nickel ore, reported a 41-percent increase in attributable net income for the first semester this year. Based on unaudited financial and operating results for the six-month period ended June 30, 2022, attributable net income increased to P3.83 billion from P2.73 billion while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 19 percent to P6.33 billion from P5.32 billion the year prior. Despite lower ore volume sold during the period, revenues increased by 7 percent to P11.78 billion from P11.01 billion last year, owed largely to higher nickel ore prices and favorable exchange rates. NAC’s four operating mines sold a combined 6.95 million wet metric tons (WMT) of nickel ore during the first half of the year, down 16 percent from 8.30 million WMT in the same period last year. The drop in sales volume was almost in direct proportion to unrealized workable days caused by inclement weather that adversely affected the Company’s mining operations during the period. The weighted average nickel ore sales price over the first half of year 2022 rose by 18 percent to $30.03 per WMT against $25.54 per WMT in the same period last year. The Company also realized P52.56 per US dollar from these nickel ore sales, a 9-percent increase from P48.25 last year. Breaking down the ore sales, the Company exported 3.12 million WMT of saprolite and limonite ore at the average price of $42.05 per WMT during the six-month period compared to 4.55 million WMT at $37.62 per WMT in the same period last year. Likewise, the Company delivered 3.83 million WMT of limonite ore to the Coral Bay and Taganito high-pressure acid leach (HPAL) plants, the prices of which are linked to the London Metal Exchange (LME) and realized an average price of $12.52 per pound of payable nickel. This compares to 3.74 million WMT at $7.92 per pound of payable nickel in 2021. Expressed in US dollar per WMT, the average price for the deliveries to the HPAL plants were $20.23 and $10.85 in the first half of 2022 and 2021, respectively. “The first half of 2022 was not without its challenges especially for our mining operations, brought about by weather conditions at our mine sites, particularly in Surigao, and continuing lockdowns in China, our major market,” said Martin Antonio G. Zamora, President and CEO. "However, the higher LME nickel price and stronger US dollar tempered the impact on our revenues.” Owing to the higher LME nickel price during the period, NAC also recognized gains from its equity share in investments in the two HPAL plants in the combined amount of P1.09 billion against P244.1 million year-on-year. The stronger US dollar further enabled NAC to log a 353-percent hike in net foreign exchange gains from its foreign currency-denominated net financial assets to P863.5 million from P190.6 million the year prior. Total operating cash costs decreased by 2 percent year-on-year to P5.19 billion from P5.32 billion last year. On a per-WMT sold basis, total operating cash costs increased to P747 per WMT compared to P641 per WMT in 2021. For the Company’s renewable energy business, its subsidiary, Emerging Power, Inc. (EPI) energized in June 2022 another 38-megawatt (MW) solar farm in Subic, Zambales, bringing total capacity on this site to 100MW. For 2022, the Subic plant has been operating at an 18- 19% plant efficiency factor with 90% of generation contracted under power sales agreements. EPI has realized an average tariff of P4.65 per kilowatt hour. EPI has another 100MW service contract for the Subic site and will commence construction of a 68-MW farm in August. Completion is expected by the third quarter of next year. EPI was also chosen by Shell Overseas Investments B.V. to be its exclusive local partner in a solar, onshore wind, and battery storage joint venture that aims to contribute up to 3GW into the Philippines’ renewable capacity. NAC is evaluating a range of financing alternatives including accessing global debt capital markets to raise EPI’s share of the equity required for an initial 1GW target by 2028, among other uses. The Company’s strong financial position will allow it to be opportunistic in evaluating funding options that meet the primary objective of maintaining a flexible low-cost capital structure. “We remain confident that our mining and renewable energy businesses provide a solid foundation on which to realize the OneNAC Vision’s twin objectives, which is to become the premier ESG investment in the country and to be counted among the Top 25 PSE-listed companies in terms of market capitalization by 2025,” said Zamora. Article courtesy of the Philippine Stock Exchange
Philippine Resources - August 04, 2022
Further shallow copper mineralisation identified at MCB
Figure 3. Cross section of drill hole MCB-039 relative to the interpreted geology and significant assay results. We (Celsius Resources) are pleased to announce we have received further shallow and high-grade copper assay results from the ongoing drilling program at our flagship MCB copper-gold project, held under our Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”). The results continue to identify new positions of shallow mineralisation which are in line with other recent drilling results from holes MCB-036, MCB-037 and MCB-038 (see CLA announcements dated 13 December 2021, 23 May 2022 and 4 July 2022 respectively) confirming the presence of an extensive shallow higher-grade position. The results from MCB-039 were designed to further expand the size of the shallow higher-grade copper zones which are considered to have an important positive impact on early mining options at MCB. The current drill hole in progress (MCB-040) is similarly designed to further expand the higher-grade copper mineralisation leading to potential improvements to the economics of the already positive Scoping Study at MCB as reported by Celsius on 1 December 2021. “The results from MCB are continuing to grow the size of the shallow higher-grade copper zones,” said Country Operations Director, Peter Hume. “We are getting much better definition now on the various high-grade zones, which are important for the optimisation of the MCB mine plan. We can see many good high-grade intersections coming together to expand on the earlier understanding of these high-grade zones. Where we get multiple high-grade zones staked on top of each other, we can achieve outstanding results, as recently announced from hole MCB-038 which intersected 611.4m @ 1.39% copper and 0.75g/t gold from 32.5m.” RESULTS FROM MCB-039 Drill hole MCB-039 was drilled to further confirm the interpretation that further shallow high-grade positions exist as a relatively flat body extending into the surrounding host rocks (see Figures 2 and 3). This drill hole was more specifically targeted to fill a gap in the drilling information where there was previously defined lower grade copper mineralisation. The results from MCB-039 have confirmed the further extensions to the higher-grade copper mineralisation as part of a series of relatively flat lying, high-grade zones which are extending away from vertically orientated feeder structures which are all closely related to an intrusive Tonalite rock (Figure 3). Figure 2. Location of MCB-039 drill hole relative to recent and historical diamond drilling at MCB. A large broader envelope of copper mineralisation at a lower cut-off grade at approximately 0.2% copper also continues to be better defined, highlighting the very large scale of the copper-gold mineralisation at the MCB deposit. Table 1: Significant intersections from drill holes MCB-039. Article courtesy of Celsius Resources. Full press release can be found HERE
Philippine Resources - August 04, 2022
Diokno banks on mining for sustained economic recovery, expansion
Photo credit: PNA - Finance Secretary Benjamin Diokno Finance Secretary Benjamin Diokno said the mining industry is a potential source of sustained economic growth as he underscored the benefit of mobilizing investments for mine development. “The mining industry holds the greatest potential to be a key driver in our economic recovery and long-term growth, especially now that world metal prices are high. The Philippines, after all, is one of the world’s most richly endowed countries in terms of mineral resources,” he said Wednesday at the listing of Philex Mining Corporation’s (Philex) common shares in the Philippine Stock Exchange (PSE). Philex is mobilizing investments for the development of its Silangan underground copper-gold mine in Surigao del Norte. In a disclosure to the PSE, the company said it is offering a maximum of 842 million common shares at the rate of one offer share for every 5.8674 shares owned for PHP3.15 each to raise a total of PHP2.652 billion new equity. The stocks rights offering (SRO) period started on July 12, 2022 and ended July 25, 2022. The Silangan project, considered one of the biggest copper-gold mines in the country, is planned to be mined in two phases. The first phase has a mineable ore reserve of 81 million metric tonnes which will be mined for 22 years at a rate of 4 million tonnes per year. The mine is targeted to commence commercial operations in the first quarter of 2025. Diokno said Philex’ SRO listing demonstrates the mining industry’s confidence in the country’s promising economic growth prospects. He said the offering means more jobs will be created, local economies will be reinvigorated, and additional revenues will be contributed to the government. The Department of Finance (DOF) estimates that the project will generate around PHP8.5 billion in excise taxes alone for its entire mine life. Diokno said the listing sends a strong signal to the mining industry that the country's capital markets are viable instruments for fast tracking the development of large mining projects. He said the Marcos administration is committed to continue creating an enabling environment for mining activities to flourish in the country as he looks forward to similar listings in the future. “We recognize that apart from boosting local development, mining is a strong magnet for investments that can propel our economy into a higher growth trajectory,” he added. Diokno said the government expects the mining industry to strictly adhere to responsible and sustainable mining practices. He said the mining industry should strike a balance between protecting the environment, uplifting local communities, and supporting the government’s socioeconomic agenda. “This is a non-negotiable condition so we can guarantee the sustainability of the industry and the strong economic growth of its host communities,” he said. Article courtesy of the Philippine News Agency
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