- P41-m upland road project in Didipio begins
- Visit gives Cimatu good impression of firm’s Masbate mining operation
- Cimatu to speak at Mining Luncheon on June 8
- Ban on export of unprocessed mine ore won’t work, experts say
- Shortlist Announced: Mines and Money Asia Outstanding Achievement Awards
- High prices help PH mine production value hit P108.6 B in 2017
- Why leading investors are backing gold
- Green Acres eyeing growing hydro seeding opportunities
- PHOTO CONTEST | No Filter: Harnessing the transformational impacts of natural resources — as seen from the ground
- 4th Mining Investment Asia Conference to feature new topics of Mining Technology & Cryptocurrency
Marcventures plans merger with 2 other miners
Marcventures Holdings said it would merge with Asia Pilot Mining Philippines and BrightGreen Resources Holdings, with the company as the surviving entity, ABS-CBN reported on Sept. 11.
The nickel ore producer told the stock exchange that it would issue 1.125 billion shares at par value of P1 per share, 675 million of which in favor of Asia Pilot and the remaining 450 million to BrightGreen.
Marcventures said the deal would help it diversify its portfolio.
Asia Pilot owns Alumina Mining Philippines and Bauxite Resources, which mine bauxite ore, a raw material for aluminum, Marventures said.
BrightGreen, on the other hand, will help Marcventures increase its nickel reserves for a possible foray into nickel processing, it said.
The company’s subsidiary, Marcventures Mining and Development Corporation, holds a mining permit for 4,7999 hectares of land in Cantilan, Carrascal, and Madrid municipalities in Surigao Del Sur, according to its website. It produces nickel ore for export to China.