NICKEL ASIA CORP. said its unit Samar Nickel Mining Resources Corp. has signed an operating agreement with San Juanico Resources Corp. covering nickel mining claims in Zambales, as disclosed to the Securities and Exchange Commission. The deal was reported by BusinessWorld.
Under the terms of the operating agreement, Samar Nickel gets the right to operate San Juanico’s mineral claim holdings. The arrangement allows Nickel Asia to expand its nickel mining footprint in the Zambales region, which is known for lateritic nickel deposits.
Nickel Asia is one of the Philippines’ largest nickel producers, with operations primarily in Surigao and Palawan. The Zambales agreement adds to its portfolio as the company seeks to meet growing demand for nickel used in electric vehicle batteries and stainless steel production.