^

Business

Benguetcorp Nickel signs deal with Chinese firm

- Marianne V. Go -

MANILA, Philippines -  Benguetcorp Nickel Mines lnc. (BNMI), a subsidiary of Benguet Corp. has signed an off-take agreement with Bright Mining & Resource Co., Ltd, a major Chinese trading company, for the sale and delivery of 1.8 million metric tons of nickel ore grading 1.8 percent over the next three years.

Benguet Corp. acted as marketing agent of BNMI in the transaction.

Benguet Corp. had previously signed a five-year agreement with BNMI for the exclusive marketing of its nickel ore production.

BNMI is the operator of a nickel laterite mine in Sta. Cruz, Zambales, under MPSA No.226-2005-lll. The Sta. Cruz nickel mine consists of 1,406.7 hectares.

BNMI shipped last year some 1.3 million tons of ore with grades ranging from 1.8 percent to 2.05-percent nickel through an off-take arrangement.

BNMI is considering the establishment of an intermediate processing facility to improve and maximize the value of its products.

vuukle comment

BENGUET

BENGUET CORP

BENGUETCORP NICKEL MINES

BNMI

BRIGHT MINING

CRUZ

LTD

NICKEL

RESOURCE CO

ZAMBALES

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with