MacroAsia Corp. of Lucio Tan is applying for a permit to mine nickel ore in a 1,114- hectare area in Brooke’s Point, Palawan.
“The permits for mine operations are currently being secured as of now,” MacroAsia said.
MacroAsia, through subsidiary MacroAsia Mining, partnered last year with Calmia Nickel to explore and operate the long idle Infanta nickel project.
The opening of the nickel mining project has been stalled due to legal and environmental issues as the mine project traversed indigenous land.
MacroAsia used to produce nickel in Brooke’s Point in the 1970s when it exported nickel laterite to Sumitomo in Japan until it was forced to close down due to a plunge in nickel prices.
The company expects to generate $56.79 million in revenues per year for the project, which is seen to have a mine life of about 10 years.