Inquirer reported that Philippines based largest nickel producer Global Ferronickel Holdings Inc is set to begin the construction of its USD 50 million steel manufacturing plant in Bataan next month after being delayed due to the COVID-19 pandemic. FNI president Mr Dante Bravo told the Inquirer “They are planning to jump start operations this year. The plant, built in tandem with Hong Kong based Huarong Asia Limited, would cater to the domestic market as the government continued to boost infrastructure projects.”
Once finished, the plant would have the capacity to produce 600,000 tonnes of steel rebars annually, which would allow FNI to gain 6% market share in an industry that utilizes 10 million tonnes of steel every year.
Global Ferronickel Holdings Inc is a corporation listed in the Philippine Stock Exchange. Its subsidiaries include Platinum Group Metals Corporation, Surigao Integrated Resources Corporation, PGMC-CNEP Shipping Services Corp and PGMC International Limited. Its Cagdianao lateritic nickel deposits are near-surface, blanket like layered deposits with minimal overburden and generally five to 30 meters thick. This allows FNI to conduct simple surface mining using trucks and excavators without blasting, the use of chemicals or complex waste handling.