The Market Monitor Minding the Nation's Business
The DMCI Mining Corp. is nearing its 3 million wet metric ton (WMT) production target for 2026, driven by rapid shipments from its Palawan and Zambales operations.
“If you talk about the group, we’re at 3 million tons right now. We’re on track for this, for 3 million. That was our target,” DMCI Mining president and chief operating officer Tulsi Das Reyes said in a briefing late Wednesday.
“Well, we were able to ship out 1 million tons in three months in Palawan. And Zambales is already at 1.6 million tons for the year. So, yeah, that’s all up. We’re almost to where we want to be. We’re not too far away.”
DMCI Mining operates two mines in Santa Cruz, Zambales through subsidiaries Zambales Diversified Metals Corp. (ZDMC) and Zambales Chromite Mining Co. (ZCMC).
Last year, mining subsidiary Berong Nickel Corp. (BNC) signed a mineral production sharing agreement (MPSA) with the Mines and Geosciences Bureau for its Long Point mine in Aborlan.
The MPSA covers about 2,177.34 hectares.
It grants BNC the exclusive right to explore, develop, and utilize mineral resources within the contract area.
The MPSA has an initial term of 25 years, renewable for another 25 years.
Reyes said the favorable weather in Palawan allowed BNC to push through with its shipment.
“The weather’s been somewhat good so far, but Zambales has been raining quite hard. So, we have a seasonal stop, which we normally do in the month,” he said.
“And then we’ll start up in the fourth quarter again. Palawan will be high tide, so we’ll naturally stop. And maybe a few shipments left to end the year. But I’m quite confident we’ll hit our 3 million.”
Reyes said DMCI Mining is eyeing the expansion of its mining operations.
“We (fore)see continuously exploring our Long Point assets and its surroundings,” he said. (PNA)