Regional Nickel: DMCI Mining and Nickel Asia sign MOU for nickel processing plant study

By Rara Suratmi

DMCI Mining Corporation (DMCI Mining) and Nickel Asia Corporation (NAC) have signed a Memorandum of Understanding (MOU) to explore the feasibility of developing and operating a nickel processing plant in the Philippines. The agreement marks a strategic collaboration between two of the country’s leading nickel producers to enhance domestic processing capabilities and strengthen the Philippines' position in the global nickel supply chain.

The MOU, signed on March 4, 2025, brings together NAC’s expertise in nickel processing technology and exploration with DMCI Mining’s assets and experience in construction and engineering. Over the next two to three years, both companies will work on identifying the most suitable processing technology, selecting an optimal site for the plant, and ensuring a steady supply of nickel ore through joint exploration, subject to necessary government approvals.

DMCI Mining President Tulsi Das C. Reyes emphasized the long-term benefits of the project, stating, “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.”

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Despite the current global oversupply of nickel, NAC President and CEO Martin Antonio G. Zamora remains optimistic about future demand, citing growth in the electric vehicle and stainless steel industries. He noted that establishing a commercially viable processing facility requires alignment of government policies, logistical planning, and resource security, making early-stage collaboration critical.

The planned facility will focus on processing low-grade nickel ore, which is currently not viable for export, maximizing the country’s mineral resources and expanding opportunities in the domestic nickel industry.

As part of the agreement, DMCI Mining and NAC will also discuss the equity structure of a potential joint entity for the plant’s development and operation.

DMCI Mining, a subsidiary of DMCI Holdings, Inc., operates nickel mines in Zambales and is developing new sites in Palawan. NAC is the Philippines’ largest nickel ore producer, with mining and processing assets that serve both domestic and international markets.

Editing by Alexander Ginting