Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Carrascal Nickel Corp.
Location: Carrascal, Surigao del Norte
Mining area: 4,547.76 hectares
Metals extracted/mine products: Nickel
Nickel production (2020): 2,433,734 dry metric tons (direct shipping ore) valued at P2,867,484,933
Mining permit period: 2007-2032

 

OWNERSHIP

Incorporation date: Oct. 9, 2006
Stockholders: 
Hongkong Zhengheng Trading
Jiang Qingyuan
Zheng Xipin
Zillion Holdings Corp.
Co, Antonio L.
Chan C. Bros, Inc.
Jefco Asia Holdings, Inc.
Co, Peter John T.
Chan Kiong Ki See
Good Gain Holdings Corp.

Chairperson of the Board: Jiang Qingyuan

 

MINING REVENUE 

Current assets: P368.24 million (2019)
Current liabilities: P654.67 million (2019)
Net sale of beneficiated nickel ore: P2.05 billion (2019)
Net income: P92.8 million (2019)

 

STATUS OF OPERATIONS

Three of the mining companies in Gina Lopez’s 2017 closure order are in Surigao del Sur, namely CTP Construction and Mining Corp., Carrascal Nickel Corp., and Marcventures Mining and Development Corp.

Carrascal Nickel Corp. operates CTP’s MPSA with number 243-2007-XIII (SMR). Carrascal Nickel Corp.’s motion for reconsideration was granted by DENR, which lifted the suspension of its mining operations in 2019.

 

COMMUNITY PROFILE

Municipality class of mining location: Carrascal, Surigao del Sur (4th class)
Population: 22,479 (2015)
Poverty incidence rate: 35.56% (2016)
Human Development Index: 0.55 (2012, provincial)
Indigenous peoples living within or near the mining location: Manobo

 

IN THE NEWS

15 mining firms in Caraga suspended by Lopez allowed to operate again
14 mining firms still operating despite suspension order

 

Sources:

General Information Sheet, 2020
Financial Statement, 2019
List of existing Mineral Production Sharing Agreements, Mining and Geosciences Bureau
Philippine Metallic Mineral Production, Mines and Geosciences Bureau
Poverty and socioeconomic indicators, Philippines Statistics Authority

 

Note: The Human Development Index is a measure of how well a country has performed, not only in terms of real income growth, but also in terms of social indicators that measure people's ability to lead a long and healthy life, acquire knowledge and skills, and have access to the resources needed to afford a decent standard of living. An HDI value below 0.550 is considered low and below 0.399 is very low. The national average for the Philippines is 0.718 as of 2020.

This article was produced with the support of Internews' Earth Journalism Network.