Platinum Group Metals Corp., the Cagdianao mine of listed firm Global Ferronickel Holdings Inc. in Surigao del Norte, has started shipping nickel ore to customers in China.
The first shipment consisting of 55,300 wet metric tons of low-grade nickel ore with 1.2 percent nickel content left PGMC anchorage area on 24 April, the company said.
China remains the world’s largest nickel consumer of nickel, and with the easing of Covid-19 restrictions, a robust property sector and the rise in electric vehicle production are all expected to boost demand.
The company is optimistic of prospects in the nickel market and confident of its ability to meet customer needs.
“We hope to complete the 91 shipments for the year totaling five million WMT, the weather permitting. This year’s target volume will enable us to operate at maximum efficiency throughout the season, which runs from March to October,” company president Dante R. Bravo said.
The projected sales mix consists of 60 percent medium-grade nickel ore and 40 percent low- grade nickel ore.
The company is committed to maintaining its position as one of the country’s lead nickel ore producers contributing to the growth of the Philippine mining industry.
