THE mining subsidiary of DMCI Holdings Inc. said that it was on track to start operations, subject to official notifications, of two new mining sites within the year.
The new projects will be located in Zambales and Palawan.
DMCI Mining President Tulsi Das Reyes told reporters on Monday that all required documents for the Zambales site had been submitted and were awaiting final approval.
Recent delays were attributed to a reorganization within the Mines and Geosciences Bureau, which has seen changes in key regulatory positions.
Reyes noted that the exchange and approval of documents had been a prolonged process.
“I'm sure we have delays on our end. A lot of documents [are needed for] the DMPF (Declaration of Mining Project Feasibility), so you have to get out, get research and validate,” he added.
He also said that their internal target for another mine site in Palawan was also within the year.
DMCI's total nickel ore production in the second quarter declined by 37 percent from 523,000 wet metric tons (WMT) to 328,000 WMT.
Meanwhile, production for the first half also dropped by 30 percent from 1.122 million WMT to 782,000 WMT.
On Tuesday, DMCI Holdings' share price was unchanged at P11.54 apiece.
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