November 14, 2017

FNI completes 2017 shipment of 6 million wet metric tons of nickel ore

Manila, Philippines/ October 30, 2017. FNI today announced the completion of full-year shipment of its subsidiary Platinum Group Metals Corporation (PGMC). Volume shipped totaled 5.970 million wet metric tons (WMT) or 109 vessels of nickel ore in 2017. This compares to 4.309 million WMT shipped in 2016 and 5.352 million WMT in 2015.

“Over the past year, we have accomplished a remarkable amount of work to realize operational efficiency,” said FNI President Atty. Dante R. Bravo. “I would like to acknowledge the team of dedicated PGMC employees and contractors as well as our community partners in Cagdianao who have worked with us to deliver results and implement continuous improvements.”

The 2017 mining season ran from March through October—one month earlier than the typical production season which starts April.

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About the Cagdianao Mine Project
The nickel project comprises 4,376 hectares located in Sitio Kinalablaban Brgy. Cagdianao Claver, Surigao del Norte, Philippines. Divided into seven contiguous laterite deposits, it is connected within eight kilometers from two separate causeway facilities.

It is covered by Mineral Production Sharing Agreement No. 007-92-X renewed in June 2016 for a period of 25 years and by Environmental Compliance Certificate No. 10070023 with a maximum annual production volume of 5 million dry metric tons. Mining operations run April through October.

 

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