GFNi inks agree­ment with Rus­sian firm

Business World - - CORPORATE NEWS - Jan­ina C. Lim

GLOBAL FER­RONICKEL Hold­ings, Inc. (GFNi) has inked an agree­ment with Rus­sian firm Vi Hold­ing LLC, whose ex­per­tise in­volves low-cost min­eral pro­cess­ing.

In a state­ment, the coun­try’s sec­ond-largest nickel pro­ducer said the mem­o­ran­dum of co­op­er­a­tion and part­ner­ship was signed by its Chair­man Joseph C. Sy and Vi Hold­ing Chair­man Valery N. Kras­nov. Pres­i­dent Ro­drigo R. Duterte and Rus­sian Fed­er­a­tion Prime Min­is­ter Dmitry Medveded wit­nessed the sign­ing dur­ing the Philip­pines and Rus­sia bi­lat­eral meet­ings in Manila.

The agree­ment aims to “en­hance mu­tu­ally ben­e­fi­cial business co­op­er­a­tion be­tween the two coun­tries, es­pe­cially in the ar­eas of min­ing, met­al­lurgy and en­ergy,” GFNi said.

GFNi is look­ing to tap Vi Hold­ing’s patented tech­nol­ogy of pro­cess­ing nickel-bear­ing ore that re­quires lower cap­i­tal in­vest­ments and in­volves lower pro­duc­tion costs.

“This tech­nol­ogy makes it pos­si­ble to quickly and ef­fi­ciently build min­ing and met­al­lur­gi­cal com­plexes com­pris­ing in­de­pen­dent coal- fired power sup­ply fa­cil­i­ties. The two com­pa­nies are now in the process of form­ing a joint work­ing group to un­der­take ini­tial test­ing of ore sam­ples and con­duct fea­si­bil­ity stud­ies,” the com­pany said.

Mr. Sy said the com­pany sup­ports the gov­ern­ment’s push for in­dus­tri­al­iza­tion of the min­ing in­dus­try. “Go­ing into value-added pro­cess­ing has long been part of our business ob­jec­tives and we are very ex­cited at the prospects this new tech­nol­ogy brings,” he said.

The nickel miner has re­cently con­cluded its full-year ship­ment of 5.970 mil­lion wet met­ric tons ( WMT) or 109 ves­sels of nickel ore in 2017, which was above the 4.309 mil­lion WMT ex­ported a year ago. —

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