Hinatuan Mining Corp.'s Tagana-an Nickel Project is set to end commercial mining operations by the end of October as its economically recoverable mineral reserves approach depletion.
Nickel Asia Corp., which wholly owns Hinatuan Mining, disclosed the planned transition in a filing with the Philippine Stock Exchange. The company said the Tagana-an project has economically recoverable reserves sufficient to sustain commercial mining operations only until the end of October 2026.
The company will then transition the project to final mine rehabilitation and decommissioning, with activities under its approved Final Mine Rehabilitation and Decommissioning Plan scheduled to begin in January 2027.
The plan has been approved by the Department of Environment and Natural Resources through the Mines and Geosciences Bureau, according to the disclosure.
Long-running nickel operation
The Tagana-an mine is located on Hinatuan Island in Barangay Talavera, Tagana-an, Surigao del Norte. It is one of Nickel Asia's six operating mining assets and is operated by its wholly owned subsidiary, Hinatuan Mining Corp.
The operation produces nickel laterite ore, including saprolite and limonite, which are supplied to the company's customers in the regional nickel market.
Nickel Asia's 2024 annual report listed 2.63 million wet metric tons of proved and probable saprolite reserves and 0.83 million wet metric tons of limonite reserves at Tagana-an as of Dec. 31, 2024.
The company's more recent disclosures indicate that the remaining economically recoverable reserves are now sufficient to support commercial operations only through October 2026.
Rehabilitation to begin in 2027
Following the cessation of commercial mining, Hinatuan Mining will implement the approved rehabilitation and decommissioning plan.
The company is scheduled to begin activities under the FMRDP in January 2027 as the site transitions from production to mine closure and rehabilitation.
Nickel Asia said the planned cessation of Tagana-an's commercial operations has **no material impact on the company's business or operations at this stage**.
Hinatuan Mining will continue operating its other nickel project at Manicani Island in Guiuan, Eastern Samar, under a separate mineral production sharing agreement.
Nickel Asia currently operates mines in Palawan, Surigao del Norte, Dinagat Islands and Isabela, in addition to the Manicani operation in Eastern Samar. The company produces and exports both saprolite and limonite ore, with customers in Japan and China.
