|Project Details||The Narra nickel mine is one of two mining concessions hold by the Citinickel Mining and Development Corporation (CMDC) in Palawan; approved by the MGB on 01.03.2007. The second mining site is the Pulot nickel mine, located in Sofronia Espanola town, Palawan (see related conflicts, below). Citinickel holds in total mining concession over 2,176ha .|
In 2011, Citinickel was reported to have invested 5.146 billion Philippine Pesos in their mining operations (around 1.16 billion USD) .
The mining concession (MPSA) in Narra covers a land area of 770ha ha .
During 2011, around 1 million tons of nickel ore, produced at both mining sites, were shipped. Target for 2012 was stated to be 4 million tons . Shipped nickel ore has been of low grade (1%/ton) with 48% iron content .
CMDC is a subsidiary of Oriental Peninsula Resources Inc. As of March 31, 2014, the main shareholders (>5%) of Oriental Peninsula have been Citimax Group Inc. (33%), Golden Spin Realty, Inc. (29%), PCD Nominee Corp. Filipino (27%), PCD Nominee Corp. Non-Filipino (5%) and Billion Apex Development Ltd. (5%) . In 2013, also King Crown Group Limited and Fuying Holdings Limited were reported to have invested in Oriental Peninsula .
According to reports released in 2013 by Oriental Peninsula , the PCD Nominee Corporation is a wholly-owned subsidiary of the Philippine Depository and Trust Corporation, Inc. (PDTC). Major capital players involved in the the PCD Nominee Corporation are the Philippine Stock Exchange; (31.75%), Bankers Association of the Philippines (31.75%), Financial Executives Institute of the Philippines (10%), Development Bank of the Philippines (10%), Investment House Association of the Philippines (6.5%), Social Security System (5%) and Citibank N.A. (5%). Major banks involved in the PDTC are Hongkong Shanghai Banking Corp. LTD (15.64%); and Deutsche Bank Manila (12.11%).
The company has planned to construct a smelting plant in Palawan to process their nickel ores from their Palawan operations. Investment size for this was reported to amount to 10 million USD .
|Project Area (in hectares)||770|
|Level of Investment (in USD)||1,160,000,000 (as of 2011 for all Citinickels mining operations in Palwan)|
|Type of Population||Rural|
|Company Names or State Enterprises||Citinickel Mines and Development Corporation (CMDC) from Philippines|
Oriental Peninsula Resources Group Inc. (ORE) (ORE) from Philippines
Citimax Group Inc. from Philippines
Golden Spin Realty, Inc. from Philippines
Billion Apex Development Ltd. from Philippines
King Crown Group Limited from Hong Kong SAR, China
Fuying Holdings Limited from Hong Kong SAR, China
PCD Nominee Corporation from Philippines
Philippine Depository and Trust Corporation, Inc. (PDTC) (PDTC) from Philippines - investment
|Relevant government actors||Mines and Geosciences Bureau (MGB), Republic of Philippines |
Department of Environment and Natural Resources (DENR)
|International and Financial Institutions||The Philippine Stock Exchange Inc. (PSE) from Philippines - capital markets|
Bankers Association of the Philippines from Philippines - banking, finance
Financial Executives Institute of the Philippines (FINEX) (FINEX) from Philippines - finance
Investment House Association of the Philippines from Philippines - finance
Social Security System Philippines from Philippines
Citibank Philippines from Philippines - banking, finance
Hongkong Shanghai Banking Corp. LTD from Hong Kong SAR, China - banking, finance
Deutsche Bank (DB) from Germany
Development Bank of the Philippines from Philippines - banking, finance
|Environmental justice organisations and other supporters||Indigenous organization Pinagtibukang Kaundang-undangan it Palaw’an (PKP); |
Alyansa Tigil Mina (ATM);
Kalikasan-People’s Network for the Environment (Kalikasan PNE);
Bigkis at Lakas ng Katutubo sa Timog Katagalugan (BALATIK);
Advocates of Science & Technology for the People (AGHAM);
Kalipunan ng Katutubong Mamamayan sa Pilipinas, Defend Patrimony Alliance;
Task Force-Justice for Environment Defenders;
Katribu Party-list and the Kalikasan Party-list, and others.