DMCI Mining Corp. said Wednesday it expects to ship 1.5 million wet metric tons of nickel ore in 2023, anticipating robust production of subsidiary Zambales Diversified Metals Corp. of up to 2 million WMT following the approval of its environmental compliance certificate in January 2023.
“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 and 2 million tons of nickel ore this year,” said DMCI Mining president Tulsi Das Reyes.
Zambales Diversified produced up to 1 million WMT before the Department of Environment and Natural Resources granted the DMCI Mining subsidiary an ECC.
Zambales Diversified’s nickel ore production went up 88 percent from 318,000 WMT to 599,000 WMT in the first quarter, the highest quarterly output, increasing total inventory by 16 percent 178,000 WMT from 154,000 WMT.
Total shipment declined by 21 percent from 620,000 WMT to 487,000 WMT, owing to the depletion of the Berong Nickel Corp.’s mine and stockpile.
ZDMC’s output, which posted a double-digit growth, cushioned the decline.
Average selling price increased 11 percent from $44 to $49 on higher-grade nickel ore shipments from the Zambales mines.
Despite the mine and stockpile depletion of Berong, DMCI Mining standalone revenues narrowly declined by 9 percent to1.3 billion from P1.4 billion on higher selling prices at the global market, while reported net income dipped by 15 percent from P543 million to P463 million.
DMCI Mining’s two nickel subsidiaries, Zambales Diversified and Berong Nickel Corp., were among several Philippine ore producers suspended by former DENR secretary Gina Lopez for alleged environmental regulations.