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DMCI Mining expects no shipments in second half of 2018 due to shutdown

Metal News - Published on Mon, 20 Aug 2018

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Bworld Online reported that DMCI Mining Corp nickel shipments went up by 88% in the first half of 2018, but expects no shipments to be made in the second semester due to the shutdown of its Zambales operations as well as the depletion of its stockpile in Palawan. The Consunji-led miner said in a statement that it shipped 482,762 wet metric tonnes from January to June, higher than the 257,120 wet metric tonnes it shipped in the same period a year ago.

The average selling price per metric ton of nickel stood at USD 39, 10% higher than its price of USD 35 in the same period a year ago. Average nickel grade also improved by 11% to 1.73%. In the second quarter alone, average nickel grade rose by eight percent to 1.75%.

DMCI Mining President Mr Cesar F Simbulan, Jr. was quoted as saying in a statement that “We had a really good first semester. Our subsidiaries were able to ship more high-grade nickel ore at a higher selling price.”

Around 430,000 WMT came from the old stockpile of Berong Nickel Corp in Palawan, while the remaining 50,000 WMT were sourced from Zambales Diversified Metals Corp.

BNC shipped 327,000 WMT in the second quarter alone, while ZMDC had no shipments since it has yet the secure its port permit.

The positive performance for the first semester came amid the closure of ZDMC and a suspension order against BNC, following the government’s crackdown on mining firms last year. The Department of Environment and Natural Resources (DENR) however allowed suspended mining companies to ship out their old stockpile to limit the possible accumulation of silt in nearby bodies of water.

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Posted By : Rabi Wangkhem on Mon, 20 Aug 2018
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