DMCI Mining Corp. and Nickel Asia Corp. (NAC) on Wednesday said they are exploring the possibility of putting up a new nickel processing plant in the country.
This was after the two mining giants signed on Tuesday a memorandum of understanding (MOU) to conduct a feasibility study on developing and operating a nickel processing plant.
The two firms said the planned facility would process low-grade nickel ore that is currently not viable for exports to maximize the country's natural resources, generate new investments and jobs, as well as boost the mineral processing industry.
"After extensive discussions, we are now ready to move forward with this strategic initiative," DMCI Mining president Tulsi Das Reyes said in a statement.
"This project is more than just a business —it's a step toward creating jobs and ensuring the sustainable use of our mineral resources."
Reyes said by laying the groundwork early, "we can help position the Philippines as a key player in the global nickel supply chain."
For his part, NAC president Martin Antonio Zamora said the increasing demand for nickel from electric vehicle manufacturers and stainless steel makers are driving the future growth of the nickel sector.
"Establishing an economically viable nickel processing plant in the Philippines requires several factors to align, including clear government policy directions and regulations, but proactive preparation is crucial," he said. "With the significant nickel resources needed and complex logistical challenges to navigate, early planning is essential for long-term success."
Under the MOU, NAC will offer its expertise in nickel processing technology and exploration while DMCI Mining will provide new assets, along with its strength in construction and engineering.
The exploration will be conducted within two to three years to assess the suitable technology, select an optimal site for the plant, and secure a steady supply of nickel ore through joint exploration, subject to approval of necessary permits. By Kris Crismundo
Article courtesy of the Philippine News Agency
