Metro Manila, Philippines — Platinum Group Metals Corporation (PGMC), the Surigao del Norte operating subsidiary of Global Ferronickel Holdings, Inc. (PSE: FNI), has successfully commenced its 2026 mining and shipping operations following the departure of its first vessel on April 20, 2026.
The bulk carrier MV WAN ADVANTAGE completed loading operations at PGMC’s anchorage area and has since departed with approximately 55,200 wet metric tons (WMT) of nickel ore, with an average grade of 1.20% nickel (Ni) and iron (Fe) content exceeding 25%.
“The commencement of our 2026 shipment cycle in Surigao reflects the strengthened operational readiness of PGMC and the improvements we have implemented across our mining, logistics, and workforce systems. This positions us well to sustain production momentum and meet our full-year shipment targets while continuing to serve consistent demand from our key markets,” said FNI President Dante R. Bravo.
For 2026, PGMC is targeting a total shipment volume of 4.1 million WMT, supported by a planned production volume aligned with market demand and operational capacity, weather permitting. The projected sales mix consists of approximately 67% low-grade nickel ore and 33% medium-grade nickel ore, consistent with customer requirements and prevailing market conditions.
PGMC operates under a Mineral Production Sharing Agreement (MPSA) with the Philippine government, granting it the right to conduct mining operations within its designated contract area in Surigao del Norte. The start of PGMC’s 2026 operations highlights FNI’s continued execution of its long-term growth strategy, anchored on disciplined mine development, operational efficiency, and responsible mining practices. The Company remains committed to close coordination with national and local government agencies and host communities to ensure that its operations continue to deliver inclusive economic benefits, employment opportunities, and sustainable community development.