The new joint venture between Nickel Asia Corp. and DMCI Mining Corp. is a major step in developing the country’s mineral processing industry, Senate President Francis Escudero said on Thursday.
“Not only does this align perfectly with our vision of reducing raw mineral exports, but it also paves the way for economic growth and job generation for our people,” he said.
Escudero, a vocal advocate of sustainable mining, described the partnership as a “monumental stride” in the country’s journey to add greater value to its mineral resources.
He said reducing the export of raw minerals and prioritizing domestic processing would allow the country to benefit more from its vast nickel reserves.
The announcement follows the recent passage of Senate Bill No. 2826, also known as the Enhanced Fiscal Regime for Large-Scale Metallic Mining bill, authored by Senator Joseph Victor Ejercito.
The measure is designed to reshape the regulatory landscape of the mining industry and Escudero introduced provisions in the bill which include new fiscal policies and stricter regulations on raw mineral exports.
A critical aspect of the legislation is the prohibition of unprocessed mineral exports, set to take effect five years after the bill is enacted.
Escudero believes that the Nickel Asia-DMCI Mining collaboration aligns with this policy, promoting domestic mineral processing and industrial growth.
Nickel Asia and DMCI Mining signed a memorandum of understanding on March 4 to begin feasibility studies for the construction of the processing plant.
The facility is expected to process low-grade nickel ore, which is currently not viable for export, to enhance the country’s mineral production capabilities.
Nickel Asia will provide expertise in processing technology, while DMCI Mining will contribute assets and leverage its parent company’s engineering experience.
The two companies plan to evaluate various technologies, determine a suitable site, and secure the necessary government approvals over the next two to three years.
“Initiatives like this will empower us to harness our natural resources responsibly and sustainably while unlocking immense potential for the Filipino people and local economy,” Escudero concluded.
