|
MCCI Corp., a company that acquired three mining operations in parts
of Cebu and Mindanao, has bagged tax incentives and other perks from
the Board of Investments (BOI).
The company said in its application before the
BOI that it will infuse P2 billion to rehabilitate, convert and
operate the acquired Mindanao Ferroalloy Corp. (Minfaco) plant
located in Manticao, Misamis Oriental; the Lloyds Richfield line of
Lafarge Cement Philippines Inc. (LCPI) in Danao; and an existing
plant.
Both BOI-registered firms, Minfaco and MCCI lost
their tax privileges.
The MCCI project will involve the use of idle
facility through purchase or lease arrangement.
MCCI is a Filipino-owned corporation 97-percent
owned by Platinum Group Metals Inc. (PGMC). It is engaged in nickel
ore smelting for the production of ferronickel in different forms as
required by its buyers.
MCCI will have an annual capacity of 13.714
million pounds of ferronickel in various forms such as ingots,
shots, granules, and recoveries.
The firm said the nickel ore will be sourced
from its mother company, which operates in Claver, Surigao del Norte,
and in Isabela.
-- Katrina Mennen A. Valdez
|
