THE mining subsidiary of listed DMCI Holdings Inc. is projecting a lower nickel ore production of 1.4 million wet metric tons (WMT) for this year from the 1.7 million WMT output achieved in 2023.
THE mining subsidiary of listed DMCI Holdings Inc. is projecting a lower nickel ore production of 1.4 million wet metric tons for this year from the 1.7 million WMT output achieved in 2023.Despite the lower projection, DMCI Mining Corp. President Tulsi Das Reyes said they remained optimistic given demand from Indonesia.'A lot of the battery-grade MHP is being all driven out to China, and Indonesia is holding a lot of its ore inside Indonesia,' he said.
Reporting on its first-half consolidated results, parent DMCI Holdings earlier told the stock exchange that DMCI Mining 'swung to a P43-million net loss from P250 million in income last year as a result of weak market prices, reduced shipments, and costs incurred at its Palawan mine.'In 2021, the company posted a record nickel ore output of 1.9 million WMT.
Mining Lowers Nickel Ore Output Goal
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