IBA, ZAMBALES—A giant Australian mining firm with an investment of $500 million has started mobilizing its resources and is ready to start its first nickel commercial mining operation in the Philippines.
Zambales Gov. Amor Deloso, in a briefing with local officials and business leaders here, said Rusina Mining N.L., in partnership with European PLC Company and two other local mining entities, D.M Consunji Mining Company (DMCMI) and Fil- Asia Mining Company, will operate, in a month or two, the 10,000 hectare nickel mineral rich area in Acoje, Sta. Cruz town.
Deloso disclosed that a smelting plant is being put up to complement the mining operation so that “only finished products such as nickel blocks would be shipped out to foreign lands instead of the usual crude procedure of exporting raw materials and products from our country.”
“Certainly, Rusina and company will help ease-out the country’s economic gloom outlook because some 3,000 to 5,000 workers will be hired for various works during its full operation time by 2010,” he said.
In a recent dialogue with company officials of Rusina, CEO Robert G. Gregory assured provincial officials here of their earnest intentions to bring about good prospects for the mining business in the country despite tight credit conditions and low nickel prices at the moment. Acoje Nickel Mining Project in Zambales will remain viable for low-cost mining operation, he added.
In a statement Gregory said “the key to mining is low cost and that’s where the Philippines has an edge over the others – quality yet low cost projects.”
Citing prospects for the Acoje Nickel Mining project Gregory is optimistic it will remain profitable because of the entry into the scene of its technology partner European Nickel PLC which will introduced the “propriety heap leach process, a mining process where nickel is chemically extracted from crushed and mined ores and are very low-cost effective.”
Acoje’s total mining development cost was estimated by Rusina as about $498 million in infrastructure and working capital, 70% of which will be spent in the Philippines while partner European PLC will spend about $10 million for feasibility studies.
Pre-feasibility study according to Mines and Geo-science Bureau (MGB) documents found that the nickel project in Acoje, Zambales has a deposit of about 34.4 million metric tons of nickel ores and with A1.09 nickel grade. Rusina, according to DENR sources, can produce 24,000 metric tons of nickel ores daily for a decade.
Meanwhile, as a token of appreciation for the company’s concern and development pursuit for Zambales, Deloso awarded Rusina a three-year tax holiday.
Zambales Gov. Amor Deloso, in a briefing with local officials and business leaders here, said Rusina Mining N.L., in partnership with European PLC Company and two other local mining entities, D.M Consunji Mining Company (DMCMI) and Fil- Asia Mining Company, will operate, in a month or two, the 10,000 hectare nickel mineral rich area in Acoje, Sta. Cruz town.
Deloso disclosed that a smelting plant is being put up to complement the mining operation so that “only finished products such as nickel blocks would be shipped out to foreign lands instead of the usual crude procedure of exporting raw materials and products from our country.”
“Certainly, Rusina and company will help ease-out the country’s economic gloom outlook because some 3,000 to 5,000 workers will be hired for various works during its full operation time by 2010,” he said.
In a recent dialogue with company officials of Rusina, CEO Robert G. Gregory assured provincial officials here of their earnest intentions to bring about good prospects for the mining business in the country despite tight credit conditions and low nickel prices at the moment. Acoje Nickel Mining Project in Zambales will remain viable for low-cost mining operation, he added.
In a statement Gregory said “the key to mining is low cost and that’s where the Philippines has an edge over the others – quality yet low cost projects.”
Citing prospects for the Acoje Nickel Mining project Gregory is optimistic it will remain profitable because of the entry into the scene of its technology partner European Nickel PLC which will introduced the “propriety heap leach process, a mining process where nickel is chemically extracted from crushed and mined ores and are very low-cost effective.”
Acoje’s total mining development cost was estimated by Rusina as about $498 million in infrastructure and working capital, 70% of which will be spent in the Philippines while partner European PLC will spend about $10 million for feasibility studies.
Pre-feasibility study according to Mines and Geo-science Bureau (MGB) documents found that the nickel project in Acoje, Zambales has a deposit of about 34.4 million metric tons of nickel ores and with A1.09 nickel grade. Rusina, according to DENR sources, can produce 24,000 metric tons of nickel ores daily for a decade.
Meanwhile, as a token of appreciation for the company’s concern and development pursuit for Zambales, Deloso awarded Rusina a three-year tax holiday.
