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Manila Bulletin devider Business devider FNI's affiliate makes first shipment from Palawan

FNI's affiliate makes first shipment from Palawan

Published Sep 20, 2022 01:56 pm

Ipilan Nickel Corporation (INC), an affiliate of Global Ferronickel Holdings, Inc. (FNI), has successfully completed its maiden shipment of ore from its mine site in Brooke’s Point, Palawan for export to China.

In a disclosure to the Philippine Stock Exchange, FNI said 54,700 wet metric tons of medium-grade nickel ore were loaded aboard M/V He Sheng Nan Fang by INC for its first export en route to Guangdong Century Tsingshan Nickel Industry Co., Ltd in China (GCTN).

A long-standing customer of FNI’s Surigao-based Platinum Group Metals Corporation (PGMC), GCTN is looking forward to building 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 Chairman Joseph C. Sy.

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

Under its Mineral Production Sharing Agreement (MPSA) with the government, INC is authorized to engage in the exploration, development and utilization for commercial purposes of nickel and other mineral deposits in the Municipality of Brooke’s Point, Palawan, with an area of 2,835 hectares.

Estimated mine life is at least ten years, with an annual production rate of 1.5 million WMT of medium- to high-grade nickel ores. INC employs more than 1,300 personnel, mainly from the local community and nearby areas.

“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,” said Sy.

These projects include support for education, wellness, and livelihood development through scholarship grants, donation of school supplies, rice harvesters, fishing boats and implements, a brand new ambulance, medicines and other health essentials, construction of covered courts, daycare center, and health facility, allowances for teachers, barangay health workers and a community doctor, feeding programs, medical missions, livestock and rice farming assistance, and installation of solar dryers.

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

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