Emerging nickel producer DMCI Mining Corporation (“DMCI Mining”) and listed natural resources development firm Nickel Asia Corporation (“NAC”) signed a Memorandum of Understanding (MOU) to explore the feasibility of developing and operating a nickel processing plant in the Philippines.
If the deal reaches the nickel processing stage, this will be the first of its kind in the Philippines that would shift the country’s mining industry’s focus from being a mere exporter of raw unprocessed ore and other minerals.
The DMCI and NAC collaboration combines the resources, technical expertise, and mining assets of both companies to strengthen the country’s nickel processing capabilities.
“After extensive discussions, we are now ready to move forward with this strategic initiative. This project is more than just a business—it’s a step toward creating jobs and ensuring the sustainable use of our mineral resources. By laying the groundwork early, we can help position the Philippines as a key player in the global nickel supply chain,” said Tulsi Das C. Reyes, President of DMCI Mining following the MOU signing on March 4, 2025.
“Despite the current oversupply of nickel globally, we remain confident in the sector’s bright future, driven by the growing demand from the electric vehicle and stainless-steel markets. Establishing an economically viable nickel processing plant in the Philippines requires several factors to align, including clear government policy directions and regulations, but proactive preparation is crucial. With the significant nickel resources needed and complex logistical challenges to navigate, early planning is essential for long-term success,” said Martin Antonio G. Zamora, President and CEO of NAC.
Under the MOU, NAC will contribute its expertise in nickel processing technology and exploration, while DMCI Mining will provide new assets, along with its strength in construction and engineering.
Over the next two to three years, both companies will collaborate to identify the suitable technology, select an optimal site for the plant, and secure a steady supply of nickel ore through joint exploration, subject to approval of necessary permits.
The parties also agreed to discuss the equity structure of a potential joint entity for the plant’s development and operation.
The planned facility aims to process low-grade nickel ore that is currently not viable for export, maximizing the country’s mineral resources, generating new opportunities and boosting the local nickel industry.
DMCI Mining Corporation (DMCI Mining), a wholly owned subsidiary of DMCI Holdings, Inc., is an emerging nickel producer with key assets in Zambales and Palawan. It primarily exports nickel ore to markets in China and other markets. The company currently operates two mines in Santa Cruz, Zambales, and is actively developing new mining sites in Palawan to expand its operations.
