Ipilan Nickel Corp., a unit of Global Ferronickel Holdings, Inc., on Tuesday, commenced its maiden export shipment of ore to Guangdong Century Tsingshan Nickel Industry Co., Ltd in China.
In a stock report yesterday, the company said the 54,700 wet metric tons of medium-grade nickel ore loaded aboard M/V He Sheng Nan Fangshipments were from its mine site in Brooke's Point, Palawan.
"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," FNI Chairman Joseph C. Sy said.
"Target for the year is 500,000 WMT, with increased production in the coming years, as we begin year-round operations," he added.
Under its Mineral Production Sharing Agreement with the government, INC is allowed 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.
Its 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.
INC said it will prioritize infrastructure development with the establishment of a mini-hydro power plant and farm-to-market roads. The company, however, did not disclose the project's cost and timeline of completion.