Marcventures Mining and Development Corporation (MMDC) plans to ship out 2.035mn mt of nickel ore this year.
The Philippines-based nickel miner set this target after its nickel ore shipment increased by 21.2pc in 2020 to 1.732mn mt compared to 1.42mn mt in 2019.
In the first three months of this year, Marcventures’ net loss was lower at P115.66mn ($2.9mn) compared to P123.96mn in the same period last year.
The firm also reported an increase in its net income in 2020 to P530mn compared to P165mn in 2019 while its gross revenues grew by 100.8pc to P2.87bn last year from P1.43bn in 2019.
MMDC is also planning operations of two bauxite mine in Samar and has set aside P2.8bn to bankroll for these ventures, it said in a statement
$1 = P39.51