DMCI Mining, Nickel Asia ink deal for nickel processing plant

DMCI Mining Corp. and Nickel Asia Corp. (NAC) have signed a Memorandum of Understanding (MOU) to collaboratively develop a nickel processing plant in the Philippines.

This joint venture aims to boost the nation's nickel output to meet the growing global demand from the electric vehicle and stainless-steel industries.

NAC will leverage its expertise in nickel processing and exploration, while DMCI Mining will contribute new assets and its proficiency in construction and engineering.

Over the next two to three years, the companies will conduct feasibility studies on processing technologies, site selection, and securing nickel ore supply, pending regulatory approvals.

The initiative seeks to process low-grade nickel ore, which is currently not exportable, thereby maximizing the utilization of the Philippines' mineral wealth.

DMCI Mining president Tulsi Das Reyes highlighted that the project aims to create jobs and establish the Philippines as a significant contributor to the global nickel supply chain.

The companies will also finalize the equity structure for a potential joint entity that will manage the plant's development and operations.