Palawan has over 400 million nickel ore deposits

Puerto Princesca, Palawan - Nov 4, 2005

Palawan Philippines has a large deposit of nickel ore totaling about 414 million tons. This is revealed by a recent research conducted by the Kilusan Love Malampaya (KLM) and Federal State of Palawan.

The largest nickel ore deposit is found in barangay Berong, Quezon town.

KLM member and FSPM convenor Cesar Ventura said that Rio Tuba Nickel Mining Corp. (RTNMC) is negotiating to operate at Berong.

Currently, RTNMC together with Coral Bay Mining Corporation operate a multi-million dollar nickel processing and limestone mining project in Rio Tuba, Bataraza, which has about 9.6 million tons of nickel ore deposits.

Their operation is reported to have an investment portfolio of US$180 million, with an estimated income of US$318 million. Its annual excise tax to the national government is US$6.36 million.

Ventura said that tapping into the vast nickel ore deposits in Berong is key to meeting the increasing demand for nickel ore, which is a vital material for production of automobile, airplane and other major industrial requirements.

The price of nickel is almost second to gold, Ventura noted.

(PNA)

Top of Palawan's Nickel Ore Deposits - News


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