Nickel Asia

Nickel Asia Corporation (NAC) is a Philippine mining company headquartered in Bonifacio Global City, Taguig, whose principal business is the extraction and sale of lateritic nickel ore. Its mining portfolio is built around four operating sites: Rio Tuba in Palawan, Taganito and Hinatuan in Surigao del Norte, and Cagdianao in Dinagat. The company supplies saprolite and limonite ores to international customers, particularly producers of ferronickel, nickel pig iron and other nickel-bearing intermediate products used in stainless-steel manufacturing and, increasingly, battery-related supply chains. The group’s operating history is closely associated with the Rio Tuba Nickel Mining Corporation, which began operations near Bataraza in Palawan in 1969 and shipped nickel internationally the following year. Nickel Asia’s later expansion included the acquisition of the Cagdianao operation in 1998 and the development of additional mining interests in northeastern Mindanao. Its mines are operated through subsidiaries rather than as a single consolidated mine site. The Taganito operation is associated with the Taganito HPAL Nickel Plant, a hydrometallurgical processing facility located near the Taganito River estuary. The plant is operated separately from the mining company and processes nickel-bearing material into higher-value intermediate products. NAC’s commercial model is based mainly on exporting mined ore. Saprolite, generally higher in magnesium and suitable for pyrometallurgical routes, and limonite, generally processed through hydrometallurgical methods, are sold to customers in Asian and other international markets. The company has also pursued diversification beyond conventional mine exports. Through Emerging Power Inc., it has invested in renewable-energy and power-generation projects, while subsidiaries and affiliates have undertaken exploration in gold and copper. These activities broaden the group’s exposure to the Philippine resources and energy sectors, although nickel mining remains its defining business. The company has also faced regulatory and environmental scrutiny. Philippine environmental authorities cited concerns at several mining sites involving siltation, erosion and dust emissions. In 2016, the Hinatuan mine was among operations proposed for closure during a national review of mining permits, and an order to close the site was issued in February 2017. The mine subsequently resumed operations after the environment secretary’s appointment was not confirmed by the Commission on Appointments. These events illustrate the regulatory sensitivity of lateritic mining in the Philippines, where operations can affect coastal and island environments and depend on environmental permits and rehabilitation obligations. NAC’s corporate history is linked to the Zamora family, which has interests in a range of Philippine businesses and has also been active in public life. The company’s public identity, however, is principally that of a Philippine nickel producer with a geographically dispersed mining platform, export relationships and participation in the country’s wider mineral and power industries. Its present strategic importance is tied to the continuing demand for nickel, the quality mix of its ore resources, processing partnerships and the regulatory conditions governing Philippine mining.

Nickel Asia Corporation’s origins are associated with the Rio Tuba nickel operation in Palawan. Founded in 1969 by Manuel “Manny” B. Zamora Jr., the business began international nickel shipments from Rio Tuba in 1970. The operation became the foundation of a broader Philippine mining group, with lateritic ore as its principal product and international sales as its principal commercial route. The company expanded its operating footprint through subsidiary mining companies. Rio Tuba Nickel Mining Corporation operates the Rio Tuba mine near Bataraza. Taganito Mining Corporation operates the Taganito mine in Claver, Surigao del Norte, near the Taganito HPAL Nickel Plant. Hinatuan Mining Corporation operates the Tagana-an Nickel Project on Hinatuan Island. Cagdianao Mining Corporation operates the Cagdianao mine in Dinagat, including the Valencia and adjacent Boa pits. The Cagdianao property was acquired in 1998 and covers a large area of the Cagdianao district. The group has also had a changing portfolio of smaller or former operations. Cagdianao’s South Dinagat mine was closed in 2007 after depletion of higher-grade saprolite reserves and later reopened in 2021. The Manicani mine in Eastern Samar operated during several periods before closing permanently in 2016. These changes reflect the variable grade, geology and mine-life profile of Philippine laterite deposits. NAC’s products are primarily saprolite and limonite nickel ores. Japanese, Chinese, Australian and other international customers use these materials to produce ferronickel, nickel pig iron and related nickel intermediates. The Taganito HPAL facility represents a move beyond direct ore exports by using high-pressure acid leaching to process limonite into nickel-cobalt intermediate material. Mining and processing are nevertheless operated through distinct corporate entities and should not be treated as identical activities. Alongside nickel, Nickel Asia has pursued renewable energy and power generation through Emerging Power Inc., established in 2001, with projects associated with locations including Subic Bay Freeport, Oriental Mindoro and Biliran. The wider group has also participated in gold and copper exploration through companies such as Cordillera Exploration Co. and Newminco Pacific Mining Corp. These ventures have complemented, but not displaced, the company’s identity as a nickel producer. Environmental regulation has been a significant part of the company’s public history. During a 2016 national review, Philippine authorities cited alleged or suspected problems at mining sites including uncontrolled siltation, soil erosion and dust emissions. Hinatuan was among the sites proposed for closure, and an environment secretary ordered its closure in February 2017. The mine later reopened after the secretary’s appointment was not confirmed by the Commission on Appointments. The episode underscored the dependence of Philippine mining companies on environmental permitting, rehabilitation requirements and changing government policy. The company remains listed in the Philippines under the ticker NIKL. Its business continues to center on a group of island and mainland nickel operations, international ore customers, processing relationships and selected investments in power and mineral exploration.

1. 2022Copper-gold exploration interests transferred

   MRC Allied sold interests in several Philippine copper-gold exploration projects to Salvador Zamora.

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2. 2021South Dinagat operation reopens

   The former South Dinagat mine was reported to have reopened after its earlier closure.

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3. 2017Hinatuan closure order

   The Philippine environment secretary ordered the closure of the Hinatuan mine during a national environmental review; the operation later reopened.

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4. 2016Manicani mine permanently closes

   The Manicani operation in Eastern Samar ceased operations permanently after several operating periods.

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5. 2007South Dinagat mine closes

   The South Dinagat operation was closed after substantial depletion of higher-grade saprolite reserves.

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6. 2001Emerging Power established

   Emerging Power Inc. was established as part of the group’s diversification into power and renewable-energy projects.

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7. 1998Cagdianao property acquired

   The Cagdianao mining property in Dinagat was acquired and later operated through Cagdianao Mining Corporation.

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8. 1970First international nickel shipments

   Rio Tuba shipped nickel internationally, establishing the export orientation of the business.

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9. 1969Rio Tuba operation begins

   The Rio Tuba nickel operation near Bataraza, Palawan, began operations and became the historical foundation of the group.

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A Philippine nickel-mining and resource company supplying lateritic ore to international nickel processors and stainless-steel and battery-material supply chains.

• Saprolite nickel oreNickel ore

  Saprolite is the higher-magnesium, generally higher-grade layer of lateritic nickel deposits. NAC mines and exports saprolite for customers using pyrometallurgical processes to produce ferronickel and nickel pig iron, materials commonly used in stainless-steel production.

• Limonite nickel oreNickel ore

  Limonite is the iron-rich, lower-magnesium portion of a laterite deposit. NAC supplies limonite to processors that can use hydrometallurgical routes, including high-pressure acid leaching, to make nickel and cobalt intermediates.

• Taganito nickel operationMining operation

  The Taganito mine in Claver, Surigao del Norte, is operated by Taganito Mining Corporation and is associated with the Taganito HPAL Nickel Plant. The mine supplies lateritic ore for domestic processing and international nickel-material supply chains.

• Rio Tuba nickel operationMining operation1969

  Located near Bataraza in Palawan, Rio Tuba is the group’s oldest identified operating mine and the source of its first international nickel shipments. It is operated by Rio Tuba Nickel Mining Corporation.

• Hinatuan nickel operationMining operation

  The Hinatuan, or Tagana-an Nickel Project, is located on Hinatuan Island in Surigao del Norte and is operated by Hinatuan Mining Corporation. The site has been subject to significant environmental and regulatory scrutiny.

• Cagdianao nickel operationMining operation1998

  The Cagdianao mine in Dinagat includes the Valencia Pit and adjacent Boa Pit. The property was acquired in 1998 and is operated by Cagdianao Mining Corporation, with the group also reporting changes in the status of nearby former pits.

• 2017Response to Hinatuan closure orderOther

  Hinatuan was ordered closed during a government review of Philippine mining operations.

  What changed. The operation was closed under the order and later resumed after the environment secretary’s appointment was not confirmed.

  Aftermath. Hinatuan returned to operation, while the episode remained an important regulatory and environmental event in the company’s history.

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• 2001Diversification into power and renewable energyStrategy

  The group sought activities beyond nickel mining and established Emerging Power Inc.

  What changed. Emerging Power pursued power-generation and renewable-energy projects in several Philippine locations.

  Aftermath. The group developed an additional exposure to the Philippine energy sector while retaining nickel mining as its core business.

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• 1998Acquisition of Cagdianao mining propertyM&A

  The group expanded its Philippine nickel-resource base by acquiring the Cagdianao property in Dinagat.

  What changed. The property was placed under the operation of Cagdianao Mining Corporation.

  Aftermath. Cagdianao became one of the group’s principal mining operations.

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• 2017Hinatuan mine closure orderControversy

  The environment secretary ordered the closure of Hinatuan during the regulatory review. The mine later reopened after the secretary’s appointment was rejected by the Commission on Appointments.

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• 2016Environmental review of mining operationsControversy

  Nickel Asia sites were included in a Philippine environmental review that cited concerns such as siltation, soil erosion and dust emissions. Hinatuan was subsequently proposed for closure.

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• 2022Zamora buys MRC mining assets

  A report described the sale of MRC Allied’s interests in several Philippine copper-gold exploration projects to Salvador “Buddy” Zamora.

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1. Nickel Asia Corporation
2. Nickel Asia Corporation official website
3. Zamora buys MRC mining assets