Latest Stories

Marcventures sells 34.5% interest to new investor


MANILA, Philippines—A new mining investor, through the trust unit of newly listed Philippine Business Bank, has bought 34.5 percent of Marcventures Holdings Inc., becoming the single largest investor in the publicly listed nickel mining firm.

In a disclosure to the Philippine Stock Exchange yesterday, Marcventures said PBB Trust and Investment Center had acquired 600 million shares of the company on June 20.

Industry sources said the block was sold to the trust unit of PBB—the banking arm of Zest-O group founder Alfredo Yao—by the group of Mario Vijungco, the current chairman of Marcventures and the single biggest stockholder.

Vijungco is an entrepreneur previously with business interests in logging, prawn culture, copra trading, and retail/wholesale of heavy equipment spare parts. He owned and operated a logging concession under Ventura Timber Corp., the original holder of the MPSA used by Marcventures.

The buyer is an existing investor and mining operator but no other details were made available, industry sources said. As such, it remains to be seen whether this transaction would result in a merger and acquisition activity or whether there would be any change in Marcventures’ management control.

Through its subsidiary Marcventures Mining & Development Corp. (MMDC), Marcventures holds a Mineral Production Sharing Agreement (MPSA) covering an area of 4,799 hectares in Cantilan, Surigao del Sur. MMDC has identified nickel ore as the primary mineral that will be extracted and sold to third parties, citing the abundance and favorable characteristics of nickel within the mineral property.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: acquisition , Marcventures Holdings , Mario Vijungco , Mining and quarrying , Philippines PBB Trust and Investment Center

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Nebraska toddler gets stuck inside claw machine
  • Philippine eagle rescued by Army turned over to DENR
  • Gunmen attack Iraq military base, kill 10 soldiers
  • South Korea president shouted down by distraught parents
  • Classmates celebrating 60th birthday among missing in ferry sinking
  • Sports

  • Nadal passes clay landmark with 300th victory
  • Wawrinka waltzes through with Monte Carlo walkover
  • Power Pinays smash India in Asian Women’s Club volleyball opener
  • PH youth boxers off to stumbling start in AIBA World tilt
  • Durant has 42, Thunder beat Pistons 112-111
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • Jones, Godard, Cronenberg in competition at Cannes
  • Will Arnett files for divorce from Amy Poehler
  • American rapper cuts own penis, jumps off building
  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Business

  • Total says makes ‘very promising’ oil find off Ivory Coast
  • ‘Chinese Twitter’ firm Weibo to go public in US
  • World stocks subdued, Nikkei flat on profit taking
  • Asia stocks fail to match Wall Street gains
  • Fired Yahoo exec gets $58M for 15 months of work
  • Technology

  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Malaysia quarantines 64 villagers over MERS virus
  • DFA: 2 Filipinos survive Korean ferry disaster
  • PH asks airline passengers to check for MERS
  • Syria most dangerous country for journalists, PH 3rd—watchdog
  • Japan says visa-free entry still a plan
  • Marketplace