Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Philippines lifts suspension on nickel-miner Zambales Diversified

Published 10/10/2019, 04:14 PM
Updated 10/10/2019, 04:20 PM
Philippines lifts suspension on nickel-miner Zambales Diversified

MANILA, Oct 10 (Reuters) -
* The Philippines' Department of Environment and Natural
Resources
has lifted the suspension of nickel-miner Zambales Diversified
Metals Corp, DMCI Holdings Inc DMC.PS said in a regulatory
filing on Thursday
* Zambales Diversified Metals is a subsidiary of DMCI Mining
Corp,
which is owned by DMCI Holdings
* DMCI Mining's two nickel subsidiaries, Zambales
Diversified and
Berong Nickel Corp, were among several Philippine ore producers
suspended or shut following a series of government-initiated
audits on the industry's compliance with environmental
regulations
* The DENR lifted the suspension of Berong in November last
year
* The Berong and Zambales mines, two of more than 30
nickel-ore
producers in the Philippines, in recent years accounted for less
than 5% of the nation's output of the material, which is used in
stainless steel and electric vehicle batteries
* Top nickel ore buyer China is expected to rely on the
Philippines, the world's second-largest ore producer in 2018,
for supply that will replace ore shipments from last year's top
producer Indonesia, which is due to ban its ore exports in 2020


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.