A significant hurdle has been cleared for the Infanta Nickel Project in Brooke’s Point, Palawan, as regulatory approval has been granted by the Mines and Geosciences Bureau.
This clearance allows MacroAsia Mining Corp. and its operating partner, Calmia Nickel, Inc., to finally begin development and operation of the substantial nickel deposit.
The project, secured under a Mineral Production Sharing Agreement, encompasses nearly 1,114 hectares and is authorized for an annual extraction of one million metric tons of nickel and associated minerals.
Concerns regarding the project’s proximity to the sensitive Mt. Mantalingahan Protected Landscape were addressed with certification from the Department of Environment and Natural Resources, confirming the mining area lies outside the protected zone.
Detailed environmental impact assessments predict the creation of 57 permanent positions, with the total workforce potentially reaching 1,000 when including contracted labor and supporting services.
The estimated investment required to bring the Infanta Nickel Project to fruition is approximately P646 million.
This development follows a 2021 agreement between MacroAsia Mining Corp. and Calmia Nickel, Inc., outlining a collaborative path toward exploration and eventual mining operations.
News of the regulatory approval coincided with a 2% increase in MacroAsia’s stock value on the Philippine Stock Exchange, closing at P4.59 per share.
