PMEA Blog

Manila, Philippines (AHN) - Australian-listed Rusina Mining announced Monday it would initiate exploration for nickel and plutonium at the Acoje mining area in Zambales, northwest of the Philippines capital of Manila, starting this year.

Robert Gregory, managing director of Rusina said in a statement, “We are very excited about the Acoje project. The property is quite large. There is definitely a huge potential for undiscovered mineralization in this area.”

Rusina signed separate agreements with Philippine-based Geograce Resources Philippines and DMCI Holdings for the development of the Acoje project. It signed a joint exploration and development of the southern portion of the Acoje project with Geograce while it signed a separate deal with DMCI for the initial mining of nickel in the area.

Under the deal with DMCI, five million tons of Acoje’s surface nickel laterites that are to be mined over the next five year would be shared between both companies. Rusina and DMCI will share the profit 50-50 on the sale of the laterites mined in the ACoje area, while DMCI retains management over the open pit extraction of nickel, chromite and iron laterite for direct shipping.

Read More