Canadian miner eyes nickel plant in Agusan Norte

MANILA, Philippines - Canadian Miner TVI Pacific, through its local arm TVI Resource Development Philippines Inc. (TVIRD), is eyeing the construction of a nickel processing plant in Agusan del Norte which would be operational in 2015.

In a statement issued yesterday, TVIRD announced that it recently signed joint venture agreements with Mindoro Resources Ltd. (MRL) and Minimax Exploration Corporation for the development of resources in the Agata Mining Project in Agusan del Norte and  the Pan de Azucar Pyrite project in Panay Island.

Under the agreements, TVIRD reserves the option to assume a 60-percent interest in the projects and act as operator of the projects.

“The joint venture presents TVIRD, MRL and Minimax with multiple growth prospects that include mineral development and processing of high iron laterite and limestone direct shipping ores (DSOs) over the short-term. In the medium-term, prospects include pyrite material DSO, lime and nickel,” TVIRD said in the statement.

The nickel processing plant, which would be built near the Agata Project is expected to cost less than $100 million and operate for 20 years.

It would be built in modules with provision for additional capacity over time.

An assigned project execution team is proposing the use of low- cost leaching and downstrean nickel recovery other than the traditional high pressure acid leach (HPAL) process which entails higher cost.

The laterite comprising limonite material and saprolite material that would be fed into the processing plant would be mixed with sulphuric acid produced as a byproduct the Pan Azucar pyrite project

The Agata Mining Project is seen to contain seven million wet metric tons of high iron material.

TVIRD said the government has already issued an Envrionmental Clearance Certificate (ECC) for high laterite iron mining which would soon commence before the porcessing plant becomes operational.

Domestic nickel production in the first nine months of the year made up 47 percent of the total metallic production value of P79 .52 billion, equivalent to  P37.37 billion.