Nickel Asia says DENR proposed mining limit will not affect production volume

Listed firm Nickel Asia Corp. (NAC) said that the government’s proposal to prescribe a limit to mining areas will not affect its production.
In a disclosure to the stock market on Tuesday, April 24, NAC said that the proposed Department Administration Order (DAO) of the Department of Environment and Natural Resources (DENR) “will not impact its production volumes.”
NAC senior Vice President for Finance Emmanuel L. Samson said that “the impact of the Administrative Order to the Company, should it be issued in the form that we anticipate, will be to accelerate rehabilitation of disturbed areas within the prescribed time frame, which we can comply with.”
NAC said that they are already compliant to the DAO, which requires large mining operations to supply to local processing plants.
NAC also said that its lateritic nickel deposits are already deep, which meant that the company’s operations require less areas for mining. — Anna Gabriela A. Mogato