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Berong Nickel Corp. (BNC), a subsidiary of Consunji-led DMCI Mining Corp., remains on track to begin operations at the Long Point mine in Palawan within the fourth quarter, pending the government’s full clearance.
Last month, BNC secured the exclusive rights to explore, develop, and utilize mineral resources within the 2,177.34-hectare Long Point property in Aborlan town.
The company will have such rights for 25 years, as indicated in the Mineral Production Sharing Agreement (MPSA) it signed with the Department of Environment and Natural Resources (DENR) through the Mines and Geosciences Bureau (MGB).
The MPSA is renewable for another 25 years and will take effect upon registration with the MGB.
DMCI Holdings Inc. Chairman and Chief Executive Officer Isidro Consunji said the BNC is now gearing up for operations at the Long Point mine before the year ends.
“The pier is finished, the road is under construction, the equipment is already in place, only the tree-cutting permit is pending,” Consunji told reporters in a chance interview.
Once the tree-cutting permit is finalized, he said operations will “hopefully” start.
BNC has invested around ₱1 billion in the Long Point project for fleet expansion, port infrastructure, alongside exploration activities and pre-operating costs.
The property currently holds an environmental compliance certificate for 1 million wet metric tons (WMT) of annual production capacity.
DMCI Mining, a subsidiary of DMCI Holdings, is targeting to eventually operate three mines at Long Point, which will have a full annual operating capacity of 3 million WMT.
Aside from Long Point, DMCI Mining is looking to evaluate other properties for “future development”, particularly the Dangla mine in Quezon town, also in Palawan.
BNC earlier proposed a ₱560.18-million development of the Dangla Nickel Project, which has an estimated extraction rate of 2 million WMT.
DMCI Mining is banking on the recently signed Enhanced Fiscal Regime for Large-Scale Metallic Mining Act as it eyes fiscal stability this year.
“We see the new fiscal framework as an opportunity to strengthen the mining sector’s role in generating long-term value for investors, communities, and the economy,” the company said.
“Furthermore, we welcome the fiscal stability it will bring to our operations,” it added.
In the first half of the year, DMCI Mining saw its net income rise to ₱344 million from a net loss of ₱43 million driven by better nickel prices.
