Marcventures Holdings Inc. on Thursday unveiled a plant to build a nickel processing plant and acquire a mining company to boost output and exports.
Macrventures said in a disclosure to the stock exchange its board had granted company president Isidro Alcantara the authority “to seek potential investments in establishing a nickel processing plant in the Philippines.”
The facility would be the country’s third nickel plant. The company said it would also look into acquiring a mining company or property to supply additional ore for the processing plant.
Marcventures’s board of directors also approved the increase the company’s authorized capital stock to P2.5 billion from P 2 billion.
Marcventures, through wholly-owned subsidiary Marcventures Mining and Development is engaged in exploration and mining of nickel mine in Surigao del Sur.