Nickel Asia Corp. (NAC) subsidiary Rio Tuba Nickel Mining Corp. (RTNMC) registered a total national value-added multiplier effect of P44.2 billion between 2017 and 2021 from various economic projects, according to a study made by economic consulting and research firm, Center for Research and Communication (CRC).
The study, which assessed the direct and indirect contributions of the company and its ripple effect to the economy, showed NAC-RTNMC is able to contribute P1.47 in additional economic output for every peso it earns.
CRC said the company’s direct contributions are made through export, employment, wages and taxes paid while indirect contributions are realized through its business engagement with suppliers and third-party service providers.
NAC is the largest producer of nickel ore in the Philippines with its core business activities located in Palawan and several other provinces.
The CRC study led by economist Dr. Cid Terosa, quantified the national and regional economic impact of NAC-RTNMC in terms of its direct, indirect and induced national and regional economic multiplier effects as well as its total contribution to gross domestic product and gross regional domestic product.
