Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: ADNAMA Mining Resources Inc.
Location: Claver, Surigao del Norte
Mining area: 7,017.71 hectares
Metals extracted/mine products: Nickel
Nickel production (2020): 462,385 dry metric tons (direct shipping ore) valued at P713,682,006
Mining permit period: 2007-2032

 

OWNERSHIP

Incorporation date: May 26, 2006

Stockholders:
Borja, Ferdinand S.
Borja, Beatriz Amanda L.
Lorenzana, Carmen O.
Tuyac, Ulfredo A.
Power Hill International Ltd., BVI

Chairperson of the Board: Borja, Ferdinand S.

 

MINING REVENUE 

Current assets: P1.78 billion (2019)
Current liabilities: P351.59 million (2019)
Total revenue: P687.01 million (2019)
Net income: P68.86 million (2019)

 

STATUS OF OPERATIONS

In February 2017, former Environment Secretary Gina Lopez ordered the closure of 23 mines, including ADNAMA Mining Resources Inc. No update on the status of the mining operations could be found. The results of the Mineral Industry Coordinating Council review have yet to be released as well as of writing.

 

COMMUNITY PROFILE

Municipality class of mining location: Claver, Surigao del Norte (2nd class)
Population: 32,773 (2015)
Poverty incidence rate: 34.28% (2015)
Human Development Index: 0.51 (2012, provincial)
Indigenous peoples in the area living near the mining area: Mamanwa

 

IN THE NEWS

Foe of big miners? Duterte is wedding ninong of mining heiress
Metallic minerals output falls 14.4% in first half of 2020
Gov’t suspends miner’s operations in Surigao

 

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.