DMCI Mining H1 nickel shipments down 71%

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DMCI Mining Corp. said Wednesday its nickel shipments in the first half of the year dropped 71 percent due to the suspension of two operating subsidiaries.

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It said shipments in the first half fell to 257,120 wet metric tons (WMT) from 873,371 WMT a year ago, representing the combined nickel shipments of Berong Nickel Corporation (BNC) and Zambales Diversified Metals Corporation (ZDMC).

DMCI’s nickel shipments dropped 71 percent in the first half of the year. PHOTO FROM WWW.DMCIHOLDINGS.COM

Meanwhile, it said the average selling price of nickel shipments rose 27 percent to $35 per WMT from $28 per WMT.

The shipped nickel ore came from the stockpiles of the two firms, DMCI said.

Although BNC and ZDMC were issued suspension orders by the Department of Environment and Natural Resources (DENR) in 2016, the agency still allowed suspended mining companies to ship out their piles to limit the possible accumulation of silt in nearby bodies of water.

“At the start of the year, ZDMC had around 360,465 tons of ore stockpile while BNC had 939,088 tons,” the company said in a statement.

DMCI Mining President Cesar Simbulan, Jr. said they still have 1.04 million tons more in stockpile but “the rainy season and large sea swells will make it very difficult for us to make any further shipments.”

“Hopefully, our pending appeals will be resolved when the weather conditions improve,” he said.

BNC and ZDMC were issued suspension and closure orders by the DENR middle of last year. Both have pending appeals to reopen filed with the Office of the President, the company said.

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