October 18, 2024 | 12:00am
MANILA, Philippines — Pangilinan-led Philex Mining Corp. said it is exploring a potential nickel mine site in Pangasinan as part of its efforts to capitalize on the rising demand for the green metal amid a global push to transition to clean energy.
Philex president and CEO Eulalio Austin said the company has a pending application in Pangasinan that could be another viable nickel mine site.
“We have an application there that was sleeping for so long in Pangasinan,” Austin said yesterday.
The Pangasinan exploration complements the current works being undertaken by Philex in Zambales to jumpstart its first-ever nickel production.
The Philex executive did not provide further details such as timeline and revenue impact of the possible Pangasinan mine.
Last year, the firm disclosed its plans to venture into nickel mining for the first time as it sought partners for its project in Zambales.
The Zambales property is a greenfield nickel development under a financial or technical assistance agreement (FTAA) issued during the Ramos administration.
“If you look at the prices of metals right now, there has been a shift to green energy. We will miss the train if we are too slow,” Austin said.
Austin said the exploration in Zambales started this year with the technical evaluation still ongoing.
“We would like to complete the evaluation next year,” he said, while noting that the possible Pangasinan site is adjacent to the company’s current area in Zambales.
In a related development, Global Ferronickel Holdings Inc. (FNI), the second largest nickel producer in the country, said it is in talks with two foreign investors – one European and one Asian – to put up a nickel processing plant in the country.
FNI does not have any nickel processing plants yet in the country. Nationwide, there are two existing nickel processing plants where Nickel Asia Corp. has stakes.
“The question is adding more,” said FNI president Dante Bravo, who is also the president of the Philippine Nickel Industry Association.
Bravo did not disclose any further details about the ongoing business talks.
Last year, FNI revealed its plans to venture into value-added processing to take advantage of the growing demand for nickel amid the global transition to clean energy.
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