Nickel Asia (PSE:NIKL) subsidiary Hinatuan Mining’s Tagana-an Nickel Project in Surigao del Norte, Philippines, is set to end commercial mining operations by the end of this month (October 2026) as economically recoverable mineral reserves approach depletion.
In a disclosure to the Philippine Stock Exchange, Nickel Asia said remaining reserves at Tagana-an are sufficient to sustain operations only through this month.
Transition to final mine rehabilitation and decommissioning will follow, with scheduled activities under the approved final mine rehabilitation and decommissioning plan (FMRDP) slated to start in January 2027. The plan was approved by the Department of Environment and Natural Resources through the Mines and Geosciences Bureau.
Located on Hinatuan Island in Barangay Talavera, Tagana-an, the mine produces saprolite and limonite ores supplied to regional customers.
As of 31 December 2024, Nickel Asia reported 2.63 million wet metric tons (WMT) of proved and probable saprolite reserves and 0.83 million WMT of limonite reserves at the property.
Nickel Asia stressed that the planned cessation of commercial operations at Tagana-an has no material impact on business or operations at this stage.
Hinatuan Mining will maintain commercial operations at its Manicani Island Project in Guiuan, Eastern Samar, under a separate mineral production sharing agreement. Nickel Asia also retains operating mines in Palawan, Surigao del Norte, Dinagat Islands, and Isabela, exporting saprolite and limonite ore to Japan and China.
Nickel Asia is a natural resources producer and exporter of nickel laterite ore.
Write to Paula Fabe at Mining.com.au
Main image: Nickel Asia
