Senate President Francis Escudero on Thursday said the announced joint venture between Nickel Asia Corporation and DMCI Mining Corporation to develop a nickel processing plant in the Philippines is a “monumental stride” in enhancing the country’s mineral value chain.
In a statement, Escudero said the initiative is a significant step in advancing the local mineral processing industry, creating jobs, and strengthening the country’s position as a global player in the sector.
“This partnership is a monumental stride in our journey to add greater value to our mineral resources,” he said.
“Not only does this align perfectly with our vision of reducing raw mineral exports, but it also paves the way for economic growth and job generation for our people,” he added.
The announcement follows last month’s Senate approval of Senate Bill No. 2826, or the Enhanced Fiscal Regime for Large-Scale Metallic Mining bill, which prohibits the export of locally extracted raw minerals five years after its enactment.
Escudero, who introduced key amendments to the bill, said the legislation aims to reshape the regulatory framework of the mining industry and ensure more value is added to locally sourced minerals.
He expressed optimism that the Nickel Asia-DMCI Mining partnership would align with the bill’s objectives, highlighting the industry’s willingness to invest in local mineral processing.
“Initiatives like this will empower us to harness our natural resources responsibly and sustainably while unlocking immense potential for the Filipino people and local economy,” he said.
The two companies signed on March 4 a memorandum of understanding to explore the feasibility of developing a nickel processing plant in the Philippines, aiming to leverage Nickel Asia's expertise in nickel processing and exploration alongside DMCI Mining’s construction and engineering strengths.
Both agreed on selecting the plant’s technology, site location, and securing a stable nickel ore supply through joint exploration over the next two to three years, pending permit approvals.
They also plan to discuss the equity structure for a potential joint entity to develop and operate the facility. By Wilnard Bacelonia
Article courtesy of the Philippine News Agency
