DMCI Mining Corp. and Nickel Asia Corp. (NAC) signed a memorandum of understanding (MOU) to explore the possibility of developing a nickel processing plant in the Philippines.
The MOU, signed on March 4, 2025, combines the resources, technical expertise and mining assets of both companies to strengthen the country’s nickel processing capabilities.
Under the agreement, NAC will contribute its expertise in nickel processing technology and exploration, while DMCI Mining will provide assets and its strength in construction and engineering.
“Despite the current oversupply of nickel globally, we remain confident in the sector’s bright future, driven by the growing demand from the electric vehicle and stainless-steel markets. 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. With the significant nickel resources needed and complex logistical challenges to navigate, early planning is essential for long-term success,” said NAC president and chief executive Martin Antonio Zamora in a statement to the stock exchange.
The companies agreed to work together over the next two to three years to identify the right technology, select a suitable location for the plant and secure a steady supply of nickel ore through joint exploration, subject to necessary permits.
“After extensive discussions, we are now ready to move forward with this strategic initiative. This project is more than just a business—it’s a step toward creating jobs and ensuring the sustainable use of our mineral resources. By laying the groundwork early, we can help position the Philippines as a key player in the global nickel supply chain,” said Tulsi Das Reyes, president of DMCI Mining.
The planned facility aims to process low-grade nickel ore, which is not currently viable for export, to maximize the use of the country’s mineral resources. The project is expected to create jobs and strengthen the Philippines’ position in the global nickel market.
The companies will also finalize the equity structure for a potential joint venture to manage the plant’s development and operations.
