DMCI Mining Corp. is on track to hit record nickel production and shipment in 2023 after recording notable improvements in the first half of the year.
In a disclosure to the Philippine Stock Exchange yesterday, DMCI Mining through its parent firm, DMCI Holdings Inc. said from January to June, production nearly doubled to 1.12 million wet metric tons (WMT) from 567,000 WMT in the same period in 2022 and surpassing the whole of last year’s 1.03 million WMT.
The company said shipments in the first-half of the year reached 1.06 million WMT equivalent to 73 percent of the total sales volume of 1.45 million WMT in 2022.
Last June, DMCI Mining announced it targets to ship 1.5 million WMT of nickel ore and produce between 1.7 million and 2 million tons of nickel ore this year.
Tulsi Das Reyes, DMCI Mining president, said the strong performance in the first six months of 2023 can be attributed to improved operational efficiency and permit timing.
“Shortly after Zambales Diversified Metals Corp. (ZDMC) was granted an ECC (environmental compliance certificate) amendment, we worked on securing the auxiliary permits, local manpower and heavy equipment needed to boost our production capacity,” Reyes explained, in a statement.
Last January, ZDMC was granted an amended ECC that allowed the company to raise its annual production to a maximum of 2.7 million dry metric tons.
Reyes said to sustain growth momentum and offset the impact of the Berong mine depletion, DMCI Mining is also looking to open new mines.
Reyes, in a briefing in Baguio City over the weekend, said the Zambales Chromite Mining Co. (ZCMC) will be operational by December. Another mine is set to open by the second quarter of 2024.
Reyes also said ZCMC will produce nickel ore. – Jed Macapagal
