Nickel Asia Corporation (NAC) on Wednesday said that its subsidiary Samar Nickel Mining Resources has signed an operating agreement with San Juanico Resources Corp. The deal gives Samar Nickel the right to manage mineral claims covering roughly 3,432 hectares in Candelaria and Sta. Cruz, Zambales, under MPSA No. 265-2008-III. It remains subject to approval by the Mines and Geosciences Bureau.
Separately, NAC reported a 26 percent drop in first-quarter 2026 net income to ₱371.77 million, largely due to the absence of a one-time ₱800.49 million gain recorded in the same period last year from the sale of a stake in Coral Bay Nickel. While ore sales volume fell, higher global prices lifted total revenue by 3 percent to ₱2.42 billion. The expansion of its Zambales operations comes as NAC pursues diversification, including investments in a Kazakhstan copper mine and growth in its power generation business.
The agreement strengthens NAC’s access to nickel resources amid shifting market conditions, supporting its long-term production goals even as it broadens its business beyond mining.
