MANILA, Philippines - Norwegian firm Intex Resources has signed a memorandum of understanding (MOA) to develop the Mindoro nickel project with MCC8 Group Co. Ltd., a major Chinese state-controlled engineering and construction company and is a strategic partner of China’s largest nickel producer, Jinchuan Group.
The Chinese company develops, and forms consortia that undertake project finance, plant engineering and construction (EPCM), mine operation and equity investments, and is engaged in the development of several major projects in Asia and Africa.
Under the MOU, the project will be financed through a consortium to be led by MCC8.
“We are very pleased to see that Mindoro Nickel’s green mining concept has been met with genuine interest from one of Asia’s largest most prestigious companies in the non-ferrous metallurgical industry, a company that has a declared focus on modern environmental solutions. MCC8 has a strong financial background and is also a company that has a demonstrated capability for sustainable green solutions in its many recent projects. Intex is looking forward to see Mindoro Nickel be developed for the benefit of its many stakeholders, the provinces of Mindoro Island and the Philippine nation,” said Intex CEO Jon Steen Petersen.
The project will mine low-grade lateritic nickel ore and process it into nickel metal in the island of Mindoro, as the largest and first refined nickel-metal plant in the country. In the process, the project will be generating 110 megawatts of carbon-free electrical power from steam generated in its acid plant, thus avoiding fossil fuels for power, and provide the project with exceptionally low carbon footprint. Because of the many environmental benefits this project has provided, it is believed that this may set entirely new standards for the mining industry in future and introduce truly Green mining.
In line with the commitment of the proponents of Mindoro Nickel to make this project a Green undertaking, Intex has been active also in planting numerous varieties of trees both for rehabilitation and for livelihood purposes. Mined out areas can be immediately rehabilitated and replanted as the mining activity is transferred to the adjacent area and in just few years, endemic forest growth will be reestablished and the land returned for local use.
“In selecting MCC8 as a strategic partner for the development of the Mindoro Nickel, we gave primordial consideration to their demonstrated capability for sustainable green solutions in its many recent projects. Our choice of MCC8 emphasize that we put maximum priority in environmental soundness and sustainability in our plans for the realization of Mindoro Nickel,” Petersen added.