DMCI Mining Corp. is on track to exceed its 2022 nickel ore production following record shipments in the first six months this year.
From January to June, nickel production nearly doubled to 1.12 million wet metric ton from 567,000 WMT, larger than even its 2022 full-year output of 1.03 million WMT.
Nickel ore shipments in the first-half of this year totaled 1.06 million WMT, equal to 73 percent of sales of 1.45 million WMT in 2022.
“We attribute our strong performance to improved operational efficiency and permit timing,” DMCI Mining president Tulsi Das C. Reyes said.
Shortly after Zambales Diversified Metals Corp. (ZDMC) was granted an ECC amendment, DMCI worked on securing the auxiliary permits, local manpower and heavy equipment needed to boost its production capacity, he explained.
In January, ZDMC was granted an amended environmental compliance certificate (ECC) that allowed IT to raise its annual production to 2.7 million dry metric tons.
To sustain DMCI’s growth momentum and offset the impact of the depletion of the Berong mine, they plan on opening new mines in Zambales, said Reyes.
According to Reyes, one will be operational by December this year and another is set to open by second quarter of 2024.In the first half this year, DMCI Mining posted net income of P708 million, a 35 percent drop from P1.09 billion owing to lower selling prices and increased costs from higher shipments, fuel consumption, depreciation, amortization and labor expenses.
