Surigao mine not affected by martial law – FNI

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LISTED Global Ferronickel Holdings Inc. (FNI) assured investors that the operations of the company’s Surigao del Norte-based nickel mine remain unaffected by the declaration of martial law in Mindanao.

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In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, the country’s second largest nickel miner said the operations of Platinum Group Metals Corp., its wholly owned-subsidiary, remain unaffected.

President Duterte declared martial law late Tuesday in Mindanao after the Maute rebel group, which has been seeking recognition from the ISIS, attacked Marawi City in Lanao del Sur earlier this week. Mindanao will be under martial law for a period of 60 days.

“Aware of the constitutional safeguards, business establishments are open and operating,” the FNI’s statement read.

“FNI assures its stakeholders that the PGMC mine in Surigao del Norte continues to meet its commitments even as it joins the country in wishing for a peaceful and speedy resolution of the conflict gripping the area,”” it added.

The Cagdianao mine is the firm’s lone operating mine. FNI is targeting to produce 6 million wet metric tons of nickel ore from the mine for this year.

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