'GFNI buying Palawan nickel mine, 20% of Chinese firm'
GFNI president and chief executive Dante Bravo said during the recent stockholders’ meeting the company is acquiring the Ipilan nickel mine in Palawan and a 20-percent stake in Guangdong Century Tsingshan Nickel in China.
Bravo said with Ipilan mine, GFNI’s mining operations would become all-year long. Ipilan’s dry season is from November to July, while that of Global Ferronickel’s mines in Surigao province is from March to October. Meanwhile, the GFNI is pursuing its diversification into steel manufacturing. GFNI plans to begin the operation of its planned steel rebar plant in Mariveles, Bataan in 2023. The plant will have an annual production capacity of 1 million metric tons of 10 millimeter to 20 mm of steel rebars.Bravo said the terminal will have an annual capacity of 3 million MT cargoes.
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