MacroAsia Corp. said it has allowed a third party exploration and mining of the company’s mining tenements in Palawan.
MacroAsia said its Board of Directors has approved the signing of the agreement between its mining unit MacroAsia Mining Corp. (MMC) and Calmia Nickel Inc. where “Calmia shall be allowed to explore and operate the mining tenement of MMC in Brooke’s Point, Palawan.”
Also called “Infanta Nickel Project,” MacroAsia’s mining claim covers barangays of Ipilan, Mason and Mambalot in Brooke’s Point, Palawan.
Previously mined by Japanese firm Sumitomo Corp. in the 1970s, the mine site is a 1,114- hectare nickel-rich land with an initial estimate of 11 million dry metric tons of “measured resources.”
MacroAsia obtained a 25-year mineral production sharing agreement for the site in 2005.
