Global Ferronickel gets top audit feedback


Global Ferronickel Holdings Inc., the second largest nickel producer in the country and the largest single lateritic mine exporter in the world, claimed its mining concessions will pass a stringent government audit.

“The feedback received from the authorities was that the company was excellent in documentation, reportorial and permitting compliance. We also received favorable feedback on our rehabilitation, slope stabilization and greening programs,” FNI President Dante Bravo said.

“They also took notice of our plant nurseries where we have grown more than 500,000 seedlings of varied endemic species. All these are a result of our serious commitment to compliance in all aspects of our mining operations,” it added.

The DENR Audit Team is comprised of central and regional officers of the Mines and Geosciences Bureau (MGB), Environmental Management Bureau (EMB), and NGOs.

The scope of the DENR audit covers tenement, mine environmental management, safety and health and social development issues from 2015 to the first semester of 2016.

“There was a rating sheet for each audit category and rating score was awarded based on performance criteria set out on the rating sheet,” Bravo noted

FNI’s mining concessions include Cagdianao mine in Surigao, run by Platinum Group Metals Corp., and Ipilan mine in Palawan, managed by Ipilan Nickel Corp.

FNI reported a net loss of P97.9 million in the second quarter of the year from a net income of P417.0 million a year earlier due to unfavorable weather conditions which affected production and loading operations.

“Notwithstanding the challenging conditions in the second quarter of 2016, we are positive about FNI’s prospects. In the face of tough market conditions, we demonstrated our ability to reduce costs and achieve better production efficiencies,” Bravo said.

“Also, we obtained ISO Certification, which is testament to our commitment to preserve and protect the environment. These achievements place us in a strong position to do much better as selling prices recover,” Bravo added.


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