Nickel miner Global Ferronickel Holdings, Inc. (GFNI), through its operating unit Platinum Group Metals Corp. (PGMC), expanded its export market with its first nickel ore shipment to Indonesia.
PGMC shipped 56,625 wet metric tons (WMT) of low-grade nickel ore with 1.25 percent nickel and iron content below 20 percent on April 30, 2025, bound for Indonesia, GFNI said in a disclosure to the stock exchange Friday.
“This first shipment to Indonesia represents a key strategic move for FNI as we continue to strengthen our international market presence and diversify our client base. China remains our biggest market but the demand from Indonesia has been growing significantly since the past year,” said GFNI president Dante Bravo.
PGMC targets 91 shipments this year, totaling five million WMT, weather permitting.
It also expects a sales mix of 47 percent medium-grade and 53 percent low-grade nickel ore.
GFNI has been one of the Philippines’ largest nickel ore exporters in recent years, with mining assets in Cagdianao, Surigao del Norte, and Brooke’s Point, Palawan.
Most of its shipments went to China, the world’s top consumer of nickel for use in stainless steel and electric vehicle batteries.
GFNI expects a double-digit growth rate in revenues in 2025 on the back of higher production capacity in Palawan (from 1.5 million WMT to 3 million WMT), combined with increased productivity in Surigao and improved contributions from port operations in Bataan.
The mining firm reported revenues of P7.611 billion and net income attributable to shareholders of P743.9 million last year.
It also allotted P711.8 million in capital expenditures this year, primarily to fund the development of existing mines and the expansion of resources, with ongoing exploration permit applications in North Luzon, Eastern Samar, Camarines, and additional areas in Surigao.
The planned capital spending also covers further investments in a warehouse and container terminal in Bataan, as well as pursuing value-added nickel processing, primarily ferronickel and battery-grade nickel facilities.