By Richmond S. Mercurio (The
Philippine Star) | Updated November 9, 2015 - 12:00am
TOKYO — DMCI Mining Corp., a unit of
Consunji-led DMCI Holdings, remains bullish on its ore mining business amid the
steep decline in nickel prices this year.
DMCI Mining vice president for
business development Tulsi Das Consunji Reyes said the company expects to
generate P800 million in income from its nickel mining operations in Palawan
this year.
“We will probably ship 1.6 million
tons for the nickel mine in Palawan. For Zambales, we are in mine preparation
and we should have shipping by the end of the year,” Reyes said.
Reyes said DMCI Mining has allotted
P300 million for capital expenditures this year used mostly to buy equipment
for mining preparations.
“It was a transition year. Now, most
of DMCI management has taken over. The market seems to have dropped since the
start of the year to this point in time but we’re doing good so far,” he said.
DMCI Holdings secured last year full
ownership of a British nickel miner with local rights in various mining
projects in the Philippines, including the 3,765-hectare Acoje project in
Zambales province
In 2012, DMCI Holdings also entered
into a memorandum of understanding with Toledo Mining for the listed firm to
buy into Nickeline Resources Holdings Inc., 60 percent owner of the Berong
nickel project in Palawan.
Nickel prices surged last year on
speculations of supply tightness as the Indonesian ore export ban took effect
DMCI Holdings is also into power generation and
coal mining (Semirara Mining Corp.), water utilities (west zone concessionaire
Maynilad Water Services Inc.), real estate (DMCI Project Developers Inc.) and
general construction (D.M. Consunji Inc.).
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