DMCI Mining Corporation recorded a 1 percent uptick in nickel shipments from January to September this year as both its nickel assets made no shipments during the third quarter.

Zambales Diversified Metals Corporation (ZDMC) continued to await the reissuance of its port permit while poor weather conditions prevented Berong Nickel Corporation (BNC) from making any shipment.

For the 9-month reporting period, DMCI Mining shipped 482,762 wet metric tons (WMT) of nickel ore compared to 476,155 WMT the year before.

Majority of the shipments, or 430 thousand WMT, came from the old stockpile of BNC while the rest were from the inventory of ZDMC.

DMCI Mining revenues grew 40 percent from P700 million to P978 million for the first nine months of 2018 due to the shipment of higher-grade ore higher nickel prices. Net income during the same period rose 94 percent from P106 million to P206 million.

Average nickel grade from January to September increased 14 percent from 1.52 percent to 1.73 percent year-on-year. During the same reporting period, average selling price grew 33 percent from US$29 to US$39.

From July to September this year, DMCI Mining recognized a P110 million loss due to the absence of revenue to cover its operating expenses.

“We hope to ship more in the coming months using old and new inventory. The mining suspension order for BNC has been lifted, and the timing could not be better for our employees and host community in Palawan,” said DMCI Mining president Cesar F. Simbulan, Jr.

“A lot of them have been in and out of work for nearly two years because of our mining suspension. We plan to rehire our people and subcontractors to normalize our operations,” he added.

ZDMC remains suspended, together with 11 other mining companies that appealed their closure or suspension order to the Department of Environment and Natural Resources.

“We are still reviewing our options for ZDMC. But we are committed to seeing this through,” said Simbulan.