Global Ferronickel Holdings Inc. (FNI), the second-largest nickel producer in the country, expects to ship 6 million wet metric tons (WMT) of nickel ore to China as its economy returns to its former strength after being sidetracked by the pandemic.
In a disclosure on Wednesday, listed FNI said its operating arm in Surigao del Norte, Platinum Group Metals Corporation (PGMC) has commenced shipment to its customers in China last 29 March.
“We are confident in hitting this year’s target, weather permitting, with the opening of CAGA 1 next month, which would boost capacity by 10 percent,” FNI president Dante Bravo said.
With four operational mining areas, PMGC expects low-grade nickel ore to account for 70 percent of its sales and medium-grade nickel ore for the remaining 30 percent of sales.
The company has set aside approximately P243 million for capital expenditure this year to bankroll operations and implement responsible mining.
Since the Covid-19 pandemic started, FNI has helped local communities cope with the crisis with donations reaching P30 million to date.
The company has donated rapid test kits and medical equipment to local government units and local medical facilities.
It has also helped establish a local testing center and a molecular laboratory for faster RT-PCR test results in local communities.