MANILA, Philippines - Consunji-led
DMCI Holdings Inc. is eyeing more acquisitions, particularly nickel mines in Palawan,
Davao and Zamboanga, according to a top company official.
DMCI president Isidro Consunji said
the company remains bullish on the nickel mining sector as global commodities
are expected to stage a strong rebound next year. “We remain optimistic despite
weakening metal prices abroad. We’re looking at nickel,” he said.
Consunji said the company is looking
at a number of possible acquisitions but refused to give more details.
DMCI expects the nickel mining
business to grow significantly and become a major contributor to consolidated
operations.
Subsidiary DMCI Mining Corp. reported
a 64 percent jump in earnings last year to P917 million due to increased sales
volume despite a drop in average selling price
DMCI, together with UK-based D&A
Income Ltd., had offered to acquire ENK Plc., a mid-tier nickel developer with
resources and assets in Turkey, Philippines and Albania.
ENK is currently finalizing a
feasibility study for its flagship project, Acoje mine, which covers an area of
3,765 hectares located in Zambales. The review is targeted for completion this
quarter.
It also owns a 540-hectare chromite deposit,
situated five kilometers north of the Acoje project, The deposit is 40 percent
owned by ENK and 60 percent by local Philippine partner, Montemina Resources
Corp.
DMCI, the holding company of the
Consunji family with a market capitalization of approximately $3.6 billion, has
interests in construction services, coal and ore exploration, mining and
development, power generation, water and other infrastructure development.
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