RP mining firm eyes Japan, Australia as export markets

KBK, GMANews.TV

A Filipino-owned mining firm is gearing to penetrate the export markets of Japan and Australia in the coming months after it successfully shipped 54,000 metric tons (MT) of nickel ore to mainland China last week.


Officials of the Oriental Vision Mining Philippines estimate the shipments to be around 50,000 to 60,000 MT, which will be both profitable owing to the grade of ore.

Subsequent shipments will have a grade of 1.8 percent nickel, twice the grade than the first shipment, they said.

Based on a company report, the first shipment of 54,000 MT nickel has a grade of 0.9 percent that is expected to rake in a gross revenue of about P28 million.

In 2008, Oriental Vision, a 100 percent Filipino-owned company, acquired mining properties and operating rights for nickel and chromite deposits in Dinagat Province; copper, gold, zinc, sulphur, pyrite, phosphate and coal properties in Sarangani and Surigao Provinces.

The Sangay Nickel Project in Dinagat Island had been programmed to produce 5 million MT of laterite and saprolite nickel ores for the next five years with a partial confirmed mineable ore reserve of 5 million MT with an average grade of 1.2 percent nickel; 26.43 percent iron; and a partial probable ore reserve volume of 38.3 million MT.

The Palhi Nickel Project in Dinagat Island is expected to produce 5 million MT of laterite and saprolite nickel ores for the next five years with a partial confirmed mineable ore reserve of 3.3 million MT with an average grade of 1.40 percent nickel and more than 30 percent iron.

Drilling operations are ongoing in both Sangay and Palhi Nickel projects to establish and confirm its total mineable ore reserves and ore resource.

Publicly listed mining company NiHAO Minerals International Corporation (PSE: NI) has a 30 percent equity stake in Oriental Vision. Read more...