DMCI Holdings Inc. aims to become one of the leading nickel producers in the country, as it seeks to mine five new sites in the country, an executive said.
DMCI senior vice-president for communications and investor relations Cherubim Mojica said in a recent investors forum the group was in the process of getting permits for five new areas in Zambales and Palawan provinces.
She said of the five, two are in Zambales which would start operating by December this year and the other by the middle of 2024.
Mojica said that in Palawan, a new mining area would open by the third quarter of 2024, while the two other nickel facilities were still in the exploration stage.
DMCI Mining Corp. now operates two mines under subsidiaries Zambales Diversified Metals Corp. and Berong Nickel Corp.
DMCI Mining plans to ship 1.5 million wet metric tons of nickel ore this year, as the Zambales mine is expected to produce up to 2 million wet metric tons following the approval of its environmental compliance certificate in January 2023.
Net income contribution of DMCI Mining fell 51 percent in the first half of 2023 from P510 million to P250 million on lower selling prices and foreign exchange gain, coupled with higher costs.
Revenues fell 11 percent to P1.08 billion from P1.22 billion as total production more than doubled to 523,000 WMT from 248,000 WMT, but the average selling price decreased 22 percent to $49/WMT from $63/WMT.
Total shipments rebounded 33 percent to 487,000 from 367,000 WMT, driven by the 87-percent increase in ZDMC shipments from 260,000 WMT to 487,000 WMT.
BNC accounted for 29 percent of total shipments last year.
