1 week ago
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The Consunji Group's DMCI Mining Corporation, an emerging nickel producer, and Zamora-led Nickel Asia Corporation have teamed up to explore the feasibility of developing and operating a nickel processing plant in the Philippines.
In disclosures to the Philippine Stock Exchanges, the two firm said they have signed a Memorandum of Understanding (MOU) for this undertaking last March 4, 2025.
They said this collaboration combines the resources, technical expertise, and mining assets of both companies to strengthen the country’s nickel processing capabilities.
The planned facility aims to process low-grade nickel ore that is currently not viable for export, maximizing the country’s mineral resources, generating new opportunities and boosting the local nickel industry.
DMCI Mining President Tulsi Das C. Reyes
“After extensive discussions, we are now ready to move forward with this strategic initiative. This project is more than just a business—it’s a step toward creating jobs and ensuring the sustainable use of our mineral resources,” said DMCI Mining President Tulsi Das C. Reyes.
He noted that, “By laying the groundwork early, we can help position the Philippines as a key player in the global nickel supply chain.”
Nickel Asia President and CEO Martin Antonio G. Zamora“Despite the current oversupply of nickel globally, we remain confident in the sector's bright future, driven by the growing demand from the electric vehicle and stainless-steel markets,” said Nickel Asia President and CEO Martin Antonio G. Zamora.
He added that, “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.
“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 contribute its expertise in nickel processing technology and exploration, while DMCI Mining will provide new assets, along with its strength in construction and engineering.
Over the next two to three years, both companies will collaborate to identify 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.
The parties also agreed to discuss the equity structure of a potential joint entity for the plant’s development and operation.
DMCI Mining, a wholly owned subsidiary of DMCI Holdings, Inc., currently operates two mines in Santa Cruz, Zambales, and is actively developing new mining sites in Palawan to expand its operations. It primarily exports nickel ore to markets in China and other markets.
Nickel Asia has five operating and two exploratory mines and interests in the country’s only two high-pressure acid leach (HPAL) plants and in a renewable energy subsidiary.
Its saprolite ore is used as feed for ferronickel and nickel pig iron smelters in Japan and China while most of its limonite ore is processed domestically by the Coral Bay and Taganito HPAL projects.
