Global Ferronickel Holdings, Inc. revealed that its Palawan-based affiliate Ipilan Nickel Corp. received the green light for its feasibility study. They are cleared to begin operations for part of its exploration area. In a disclosure to the bourse, the company stated that INC “is now ready to operate with the granting by the Mines and Geosciences Bureau of its Partial Declaration of Mine Project Feasibility.”
FNI plans on starting the development of the approved area by the year’s fourth quarter. The approved annual production rate totals one million dry metric tons. According to a technical report, the property’s explored portion has probable ore reserves of 28.6 million wet metric tons at 1.43% for nickel and 24.01% for copper.
