Emerging nickel producer DMCI Mining Corporation, a member of the Consunji Group, is ramping up output and earnings as it triples the number of its operating mines to three this year, up from just one for most of 2024.
In a disclosure to the Philippine Stock Exchange, the firm said it plans to allocate P400 million for capital expenditures in 2025 to support expansions in Zambales and Palawan, up from the P634 million invested last year.
“Our two new mines, Zambales Chromite Mining Company (ZCMC) and Berong Nickel Corporation’s (BNC) Long Point, mark a long-anticipated step forward for DMCI Mining,” said DMCI Mining president Tulsi Das C. Reyes.
“With increased production capacity and the Long Point port nearing completion, we are confident in delivering improved operational and financial performance this year,” he added.
“We’re targeting a combined annual production capacity of three million WMT from our three mines, including Zambales Diversified Metals Corporation (ZDMC), subject to the approval of necessary permits for Long Point,” Reyes said.
DMCI Mining’s ZCMC, located in Santa Cruz, Zambales, started commercial operations in December 2024. The mine is expected to reach full operational capacity by the first quarter of 2025.
ZCMC operates under an Environmental Compliance Certificate, permitting an annual production limit of one million wet metric tons (WMT).
In Palawan, BNC is preparing to restart production through its Long Point mine in Aborlan, which is in the final stages of securing its Mineral Production Sharing Agreement (MPSA).
BNC’s Quezon, Palawan mine was fully depleted in 2021. Rehabilitation efforts began in 2022 and remain on track for completion by 2027 under the six-year program.
DMCI Mining extracts nickel ore through surface mining. The company ships nickel ore directly to markets in China and other countries.
The firm’s contribution to DMCI Holdings’ earnings recovered to P48 million in the first nine months of 2024, compared to a P154 million loss in the same period of 2023, owing to increased shipments and improved selling prices amid higher average nickel grade sold.