Nickel Asia, DMCI Announce Partnership for Nickel Processing Plant Study

​Listed natural resources development firm Nickel Asia Corporation (NAC) and emerging nickel producer DMCI Mining Corporation (DMCI Mining) signed a Memorandum of Understanding (MOU) on March 4, 2025, to explore the feasibility of developing and operating a nickel processing plant in the Philippines.

This collaboration combines the resources, technical expertise, and mining assets of both companies to strengthen the country’s nickel processing capabilities.

“Despite the current oversupply of nickel globally, we remain confident in the sector's bright future, driven by the growing demand from the electric vehicle and stainless-steel markets. Establishing an economically viable nickel processing plant in the Philippines requires several factors to align, including clear government policy directions and regulations, but proactive preparation is crucial. With the significant nickel resources needed and complex logistical challenges to navigate, early planning is essential for long-term success,” said Martin Antonio G. Zamora, President and CEO of NAC.

“After extensive discussions, we are now ready to move forward with this strategic initiative. This project is more than just a business—it’s a step toward creating jobs and ensuring the sustainable use of our mineral resources. By laying the groundwork early, we can help position the Philippines as a key player in the global nickel supply chain,” said Tulsi Das C. Reyes, President of DMCI Mining.

Under the MOU, NAC will contribute its expertise in nickel processing technology and exploration, while DMCI Mining will provide new assets, along with its strength in construction and engineering.

Over the next two to three years, both companies will collaborate to identify the suitable technology, select an optimal site for the plant, and secure a steady supply of nickel ore through joint exploration, subject to approval of necessary permits.

The parties also agreed to discuss the equity structure of a potential joint entity for the plant’s development and operation.

The planned facility aims to process low-grade nickel ore that is currently not viable for export, maximizing the country’s mineral resources, generating new opportunities, and boosting the local nickel industry.

DMCI Mining Corporation (DMCI Mining), a wholly owned subsidiary of DMCI Holdings, Inc., extracts nickel ore through surface mining. The company ships nickel ore directly to markets in China and other countries. DMCI Mining’s assets include Berong Nickel Corporation in Palawan and Zambales Diversified Metals Corporation and Zambales Chromite Mining Company.

Nickel Asia Corp. (PSE: NIKL) is a diversified natural resources development company in the Philippines, comprising five operating and two exploratory mines and interests in the country’s only two high-pressure acid leach (HPAL) plants and in a renewable energy subsidiary. NAC's aim is to contribute to sustainable national development by adopting our ESG roadmap in order to achieve the highest standards in the responsible utilization of our country's natural resources. NAC mines produce two types of ore: saprolite and limonite. NAC saprolite ore is used as feed for ferronickel and nickel pig iron smelters in Japan and China, while most of the company’s limonite ore is processed domestically by the Coral Bay and Taganito HPAL projects. NAC's renewable energy subsidiary aims to engage in power generation exclusively from renewable sources. In a short period of time, the company has built up a portfolio of renewable energy service contracts across solar, wind, and geothermal, which are at various stages of development. Through NAC operations and along with its partners of over 2,000 employees across communities, NAC aims to bring products that would move the world towards a progressive and sustainable future, always conscious of being stewards of the environments where the company operates.