MANILA, Philippines—The mining unit of publicly listed Marcventures Holdings Inc. expects to ship out some 500,000 wet metric tons (WMT) of high-grade nickel ore to China, Japan and other offshore markets this year.
MHI disclosed to the Philippine Stock Exchange on Tuesday that its unit, Marcventures Mining & Development Corp. (MMDC), could start shipping ore by June this year as the company had secured environmental clearance to construct a new causeway in the municipality of Carrascal, Surigao del Sur, a key infrastructure needed to move out its products.
The mining unit was granted an environmental compliance certificate (ECC) by the Environmental Management Bureau of the Caraga region, covering the construction of its causeway or elevated platform leading to the waters.
“We know that nickel is an important raw material and we appreciate fully the importance of protecting the environment,” MHI president Ramon Recto said. “This is why we want to focus our efforts on continuing to build MHI as a responsible mining company, a big part of which is making sure that we fulfill our environmental obligations.”
Half of the shipment expected by MMDC for this year had been committed to the Noble Group of Singapore, under a memorandum of agreement signed in December 2010. Shipment will start in June. The balance of this year’s production is currently under negotiations with other parties.
MHI assistant corporate secretary Ana Maria Katigbak said the local government unit in Carrascal had endorsed the project.