MANILA, Philippines — Listed Global Ferronickel Holdings Inc. (FNI) announced that proven and probable ore reserves at its Cagdianao site increased by 21 percent, allowing it to proceed with further exploration work. In a regulatory filing, FNI said ore reserves increased to 43.8 million wet metric tons as of the end of October as against 36.3 million WMT in June last year. PMRC sets out the minimum standards, recommendations and guidelines for public reporting in the Philippines of exploration results, mineral resources and ore reserves. The company recently completed its 2018 shipment, exceeding its target to export nearly six million WMT of nickel ores. FNI, the second largest nickel producer in the country and the largest single lateritic mine exporter in the world, shipped 5.7 million WMT this year, 3.3 percent below last year’s 5.9 million WMT.

Source: Philippine Star December 18, 2018 16:50 UTC