Manila, Philippines/April 7, 2021. Global Ferronickel Holdings, Inc. (FNI), the second- largest nickel producer in the country, announces that its operating arm in Surigao del Norte, Platinum Group Metals Corporation (PGMC), commenced shipment of nickel ore to its customers in China on March 29, 2021. The target shipment volume for the 2021 mining season is 6 million WMT.
“We are confident in hitting this year’s target, weather permitting, with the opening of CAGA 1 next month which is expected to boost capacity by 10%, ” said FNI President Dante R. Bravo.
The opening of CAGA 1, together with CAGA 2, CAGA 3 and CAGA 4, brings to four the operational mining areas of PGMC. Forecast sales mix is 70% low-grade nickel ore and 30% medium-grade nickel ore. Capex for the year is pegged at USD 5 million.
PGMC remains steadfast in promoting responsible mining, especially during this pandemic. It recently received the 2020 Platinum Achievement Award, Surface Mining Category from the Presidential Mineral Industry Environment Awards (PMIEA) for its “exemplary practices in the conduct of surface mining operations that contribute towards sustainable mineral development by promoting responsible management of the environment and natural resources.” This is the second time in a row that PGMC garnered such an award.
FNI has been deeply involved in helping local communities combat the spread of SARS-CoV-2. It has donated rapid test kits, medical equipment and PPE supplies such as face masks, face shields, protective eye goggles, protective suits, thermal scanners, alcohols and disinfectants to the LGUs and to local medical facilities. It took part in the establishment of a local testing center and a molecular laboratory to enable faster results for RT-PCR tests and carried out direct interventions to the local community through the provision of basic food supplies like rice and the implementation of food security programs to ensure self-sufficiency. Total amount spent for COVID-19 response to date is at least P30M, with about P18M accounted for under PGMC’s 2020 Social Development and Management Program (SDMP).