Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Hinatuan Mining Corp.
Location: Tagana-an, Surigao del Norte 
Mining area: 773.77 hectares
Metals extracted/mine products: Nickel
Nickel production (2019): 319,448 dry metric tons (direct shipping ore) valued at P414,112,951
Mining permit period: 2007-2032
Total manpower complement: 254

 

OWNERSHIP

Incorporation date: Sept. 10, 1979

Stockholders: 
Nickel Asia Corp.
Samson, Emmanuel L.
Ang, Philip T.
Zamora, Martin Antonio G.
Brimo, Gerard H.
Anievas, Jose B.

Chairperson of the Board: Brimo, Gerard H.

 

MINING REVENUE 

Current assets: P1.06 billion (2019)
Current liabilities: P460.73 million (2019)
Total revenue: P1.72 billion (2019)
Revenue from sale of nickel ore: P1.7 billion (2019)
Net income: P216.89 million (2019)

The company’s customers are solely from China.

 

STATUS OF OPERATIONS

In February 2017, then Environment Secretary Gina Lopez ordered the closure of 23 mines, including Hinatuan Mining Corp.. No update on the status of the mining operations could be found. The results of a review by the Mineral Industry Coordinating Council have yet to be released as of writing.

 

COMMUNITY PROFILE

Municipality class of mining location: Tagana-an, Surigao del Norte (5th class)
Population: 16,428 (2015)
Poverty incidence rate: 45.3% (2015)
Human Development Index: 0.51 (2012, province)

 

IN THE NEWS

DENR: Hinatuan nickel mine closure voluntary
Hinatuan Mining told to stop transporting nickel ore stockpile

 

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.