TWO SUBSIDIARIES of mining company Nickel Asia Corp. (NAC) announced the temporary suspension of their mining operations, amid the coronavirus disease 2019 (COVID-19) pandemic.
In a statement yesterday, Surigao Del Norte based mining companies Taganito Mining Corp. and Hinatuan Mining Corp. have temporarily suspended their mining and mineral processing plant operations, in accordance with the executive order issued by Governor Francisco T. Matugas on March 28.
Effective April 1, the executive order issued by the Surigao Del Norte local government will also temporarily ban the entry of foreign vessels except for those carrying basic necessities.
Nickel Asia projected that the temporary suspension may have adverse effects on its two subsidiaries depending on its duration. It may affect their revenues for the second quarter of this year and disturb the schedule of ore shipments for the two mining companies.
The two mining subsidiaries are implementing necessary measures to protect their employees. Both companies also assured the public that adjustments will be made to lessen the effects of the suspension.
Taganito and Hinatuan accounted for 59% of Nickel Asia’s total nickel ore shipments for 2019. — Revin Mikhael D. Ochave