Global Ferronickel Holdings, Inc. (FNI: PSE Stock Code), is currently the third largest nickel ore producer in the Philippines with peak production of 6.5m Wet Metric Tons (WMT) in 2014. It is also the largest single mine producer in the country today. Since 2007 the Company has delivered over 27.7m WMT of nickel ore. With mineral resource of over 55 million WMT spread over 300 hectares over a mining tenement size of 4,376 hectares, there is room for expansion of resources in the coming years. Read More >>
GROWING THE NICKEL BUSINESS
The Indonesian ore ban law of 2009 which took effect on January 2014 has created a major opportunity for Philippine nickel laterite ore producers being the closest supplier to the Nickel Pig Iron (NPI) market of China. FNI, currently number 3, is growing production levels by increasing its resources. They are achieving this thru exploring the current mining tenement and the recently acquired contiguous tenement in Surigao. The newly acquired Ipilan Nickel project, which has over 50m WMT @1.23% Ni content bumps up resources by over 90%. In the next two years FNI will have the production capacity to produce around 10m WMT annually for the nickel ore markets of China and of Australia, easily a 55% growth from the peak production of 6.45m WMT in 2014. FNI will evaluate potential organic or acquisition led growth in the near future.