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UPDATE 1-Philippines' Nickel Asia to resume ore shipments as coronavirus mining ban lifted

Published 04/06/2020, 11:52 AM
Updated 04/06/2020, 12:00 PM
© Reuters.
FNI
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NIKL
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* Industry head sees less ore supply disruptions
* Shares in Philippines' top nickel miners jump

(Adds mining executive comment, share prices)
MANILA, April 6 (Reuters) - Nickel Asia Corp NIKL.PS , the
Philippines' largest nickel ore miner and exporter, said on
Monday its two units in Surigao del Norte province will resume
ore shipments as the local government has allowed mining
operations to resume after a suspension to curb the potential
spread of the coronavirus.
The company said in a filing to the Philippine Stock
Exchange that foreign vessels chartered to deliver ores will
strictly observe quarantine guidelines covering their crew and
stevedores loading ores onto the vessels.
Mining operations in Surigao del Norte had been suspended
from April 1 to prevent the coronavirus spreading. The southern
province holds the Philippines' biggest nickel mines, supplying
ore to Chinese nickel pig iron producers and smelters elsewhere.
Surigao del Norte's decision also covers all other
export-oriented companies in the province, according to Nickel
Asia.
Dante Bravo, president of Global Ferronickel Holdings Inc
FNI.PS , which also produces and exports ore from Surigao del
Norte, said the decision should help ease market worries over
supply.
"We expect that there will be less (supply) disruptions in
the coming weeks and hopefully (the situation will) return to
normal in June," Bravo, who is also president of industry group
Philippine Nickel Industry Association, told Reuters.
Shares of Nickel Asia climbed as much as 5.9% following its
disclosure.
Shares in Global Ferronickel, the country's No. 2 ore
producer and exporter, jumped as much as 10.4%.


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