Berong sets P1.2B nickel project
Berong Nickel Corp., a unit of publicly-listed Atlas Consolidated Mining and Development Corp. is investing P1.2 billion to produce nickel in its Quezon, Palawan site.
Operations would start next month with total capacity of 1.47 million metric tons per year.
The project is a joint venture among Atlas, UK-based Toledo Mining Corp. plc (TMC) and Investika Ltd. of Australia.
The Berong project, which has a potential resource of 275 million dry tons with an annual average grade of 1.3 percent nickel is classified as one of the largest nickel laterite resource in the world.
The Philippines has rich nickel deposits in Surigao and Palawan.
Several companies mining these areas are Taganito Mining Corp., Hinatuan Nickel Mining Corp. and Rio Tuba Nickel Mining Corp., all owned by the Zamora group, and the Platinum Group.
The Berong project covers 10,659 hectares on four areas Berong, Moorson, Long Point and Tagkawayan.
BNC has a special mines permit to mine nickel for a period of one year beginning November 2006, while the company completes a feasibility study as part of the requirements for its application for a commercial mineral processing sharing agreement.
Demand for ore is very strong as the company intends to have short- and long-term supply contracts to various countries such as Australia, Japan and China.
Trial shipments have started late 2006.
Information from: www.malaya.com.ph
