Nickel Asia broadens portfolio through RE

MANILA, Philippines - Listed Nickel Asia Corp. is broadening its portfolio through renewable energy following the continued challenges in the mining industry.

“We are excited about our venture in renewables from solar to geothermal because for us, that’s the future,” Nickel Asia Corporate Communications vice president JB Baylon said.

Nickel Asia Special Projects vice president Bodeck Fernando said the company’s mine in Isabela has started exploratory drilling and operations but has a limited production.

“We also have a bunker in Surigao which is 10 megawatts then we are targeting our solar by March. Depending on the new FIT regime, our target is 100 megawatts,” Fernando said.

Although small in terms of percentage, Nickel Asia has a power portfolio in Mindoro, Biliran, Subic and eventually in Palawan.

“We have a Biliran and Palawan project. We also have Mindoro. We are looking at 20 megawatts in Mindoro,” Baylon added.

Nickel Asia saw an almost 40 percent drop in the value of its nickel ore shipments for fiscal year 2015 despite a 10 percent increase in shipment volume.

The company said the estimated value of shipments last year plunged 39.2 percent to P14.4 billion from P23.7 billion recorded in 2014.

“We are expecting the worst and we could only hope for the best. Some people are saying that prices will still be unfavorable until 2017,” Baylon said.

Nickel Asia is a global supplier of lateritic nickel ore and exports both saprolite and limonite ore to customers in Japan and China.

Its operating mines are Rio Tuba, Taganito, Cagdianao and Taganaan sites, all located in the southern part of the Philippines.