Govt orders APMC to stop operations

THE Department of Environment and Natural Resources (DENR) has issued a cease-and-desist order (CDO) against Altai Philippines Mining Corp. (APMC) in Romblon Province in connection with the alleged illegal construction of a causeway in its mine site in San Antonio, Romblon and other activities.

February 1

NKL said its unit Rio Tuba Nickel (RTN) Mining Corp. loaded nickel ores onto Marine Vessel (MV) Jin Yuan last February 6 without having received an Authority to Load from the BOC.

“On February 7, 2023, the BOC advised RTN representatives that loading should only commence upon RTN’s receipt of the Authority to Load issued by the BOC pursuant to Section 16 of Customs Memorandum Order 22-2010 Revised Customs Port Operations Manual,” NKL said.

NKL said RTN received verbal instructions from the BOC last February 7 directing it to pay a penalty of P100,000.00 before it could resume the loading of ores onto MV Jin Yuan, a bulk carrier sailing under the flag of Hong Kong.

Saprolite, limonite

THE company has other properties in various stages of exploration for nickel, while continuing to seek opportunities in copper and gold. The company also exports saprolite and limonite ore to customers in Japan and China.

NKL was up 4.35 percent at the stock market after opening at P7.15 closing at P7.44 last February 8.

“The drop in sales volume was almost directly proportional to unrealized workable days caused by unfavorable weather that adversely affected the Group’s mining operations during the current period.”

The company said its revenues during the first three quarters of 2022 were P21.509 billion, higher by P480 million, or 2 percent, compared to P21.029 billion during the same period last year.