The Market Monitor Minding the Nation's Business
DMCI Mining Corp. and Nickel Asia Corp. (NAC) announced last week that they are exploring the development of a new nickel processing plant in the Philippines.
This follows the signing of a memorandum of understanding (MOU) between the two companies on Tuesday to conduct a feasibility study for the project.
The planned facility aims to process low-grade nickel ore, which is currently not viable for export, in order to maximize the country’s natural resources, attract investments, generate jobs, and strengthen the mineral processing industry.
“After extensive discussions, we are now ready to move forward with this strategic initiative,” DMCI Mining president Tulsi Das Reyes said in a statement.
“This project is more than just a business—it’s a step toward creating jobs and ensuring the sustainable use of our mineral resources.”
Reyes added that early groundwork will help position the Philippines as a key player in the global nickel supply chain.
Meanwhile, NAC president Martin Antonio Zamora highlighted the increasing demand for nickel from electric vehicle manufacturers and stainless steel producers as key drivers for the industry’s growth.
“Establishing an economically viable nickel processing plant in the Philippines requires several factors to align, including clear government policy directions and regulations, but proactive preparation is crucial,” he said.
“With the significant nickel resources needed and complex logistical challenges to navigate, early planning is essential for long-term success.”
Under the MOU, NAC will contribute its expertise in nickel processing technology and exploration, while DMCI Mining will provide new assets, as well as its strengths in construction and engineering.
The feasibility study is expected to take two to three years and will focus on identifying the most suitable technology, selecting an optimal site, and ensuring a steady supply of nickel ore through joint exploration—subject to regulatory approvals.