MANILA, Philippines — DMCI Mining Corp. is eyeing to ship 1.5 million wet metric tons of nickel ore this year after its Zambales subsidiary received an environmental compliance certificate in January.
The target was announced in a disclosure sent by DMCI Holdings to the Philippine Stock Exchange on Wednesday.
The issuance of the ECC meant that the Consunji-led mining firm will be allowed to extract and produce 2 million WMT of nickel ore, since its subsidiary, Zambales Diversified Metals Corporation, was only allowed to extract 1 million WMT previously.
As it is, this will increase the mining giant’s extraction efforts as the crucial mineral’s role in the global economy grows larger. The call to shift to “cleaner” modes of transportation ushered in a worldwide demand for batteries, commonly used by electric vehicles.
Data gleaned from the International Nickel Study Group pegged supply and demand for nickel to increase, as global primary nickel production is projected to amount to 3.374 million tons this year.
“We have the necessary facilities and mitigating measures to minimize the impact of our operations on the environment. With these in place, we’re targeting to produce anywhere between 1.7 million to 2 million tons of nickel ore this year,” said DMCI Mining president Tulsi Das C. Reyes.
Data provided by DMCI revealed its subsidiary ZDMC’s nickel ore production skyrocketed 88% to 599,000 WMT in the first quarter.
Total shipments of the Consunji-led mining firm retreated by 21% to 487,000 WMT, citing the depletion of the Berong Nickel Corp. mine and stockpile.
Statista data showed that the Philippines’ share of production of nickel worldwide stood at 13.7% in 2021, with Indonesia as the top producer at 37%. — Ramon Royandoyan