PMEA Blog

MANILA, Philippines — Marcventures Holdings Inc. (MARC), a listed company in the Philippine Stock Exchange, recently announced that its wholly owned mining subsidiary - Marcventures Mining and Development Corporation (MMDC) completed its first shipment of high-grade nickel ore from its mine in Surigao del Sur last week.

The mining subsidiary shipped out 55,600 wet metric tons of high-grade nickel ore with a preliminary minimum grade estimate of 1.80% to China from its own causeway in Carrascal, Surigao del Sur. Each metric ton of high-grade nickel ore was sold at a price of US$54.00 to one of China’s top 500 companies.

According to a report conducted by the United Stated Geological Survey, the Philippines has around 17% of the world’s total nickel supply, making it the fourth largest reserve for nickel internationally.

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