FNI UNIT BREAKS INTO CHINA’S NICKEL ORE MARKET

An entity under mining company Global Ferronickel Holdings Inc. (FNI) has completed its maiden export of nickel ore to China.

FNI’s affiliate, Ipilan Nickel Corp. (INC), delivered 54,700 wet metric tons (WMT) of medium-grade nickel ore to Chinese mining firm Guangdong Century Tsingshan Nickel Industry Co. Ltd. (GCTN).

In a disclosure to the stock exchange, FNI said the nickel ore shipment had come from INC’s 2,835-hectare mining site in Brooke’s Point, Palawan. Covered by a mineral production sharing agreement with the government, this has a mine life of at least 10 years and an annual production rate of 1.5 million WMT of mediumto high-grade nickel ore.

FNI said GCTN, a long-standing customer of its Surigao-based subsidiary, Platinum Group Metals Corp., would like to build a solid relationship with INC.

“After years of careful planning and regulatory compliance, this inaugural shipment is a remarkable milestone for our group and bodes well for the country’s economic and social governance goals at this critical time,” said FNI chair Joseph Sy.

“Target for the year is 500,000 WMT, with increased production in the coming years, as we begin year-round operations,” added Sy.

Likewise, INC has tagged infrastructure as its primary focus, with the establishment of a mini-hydro power plant and farm-to-market roads.

“We are proud of this development because it sets the tone for the optimal pursuit of our social development and environmental protection objectives. INC can now roll up the score in community engagement with various socio-civic initiatives in place from the beginning of our operations,” Sy said.