Coral Bay Nickel Corporation (CBNC) has won an award for “Best Practices in Sustainable Mineral Development” in the metallic and mineral processing category in the 2nd ASEAN Mineral Awards (AMA) held Friday in Thailand.
The Philippines’ largest producer of lateritic nickel ore Nickel Asia Corporation has a 10 percent stake in the CBNC along with Sumitomo Metal Mining Corporation of Japan’s 90 percent equity control.
Rio Tuba Nickel Mining Corporation (RTNMC), a NAC subsidiary, was also adjudged as runner up in the Best Practices in Sustainable metallic mining category. The award was won by MMG Lanexang Minerals located in Laos.
In 2017, RTNMC bagged the highest award during the 1st AMA.
NAC said the Bataraza town and Palawan province can take pride that they host two of the best mining operations in the whole of Association of Southeast Asian Nations (ASEAN).
The awards this year were evenly spread out among the ASEAN countries participating. This is in stark contrast to the awards in 2017 when two Philippine entries — Rio Tuba for metallic mining and Oceanagold for metallic processing — received two of three awards given that year, the first time they were instituted.
From three categories in 2017, there were six categories this year: metallic mineral mining; metallic mineral processing and metallic mineral distribution and three similar categories for non-metallic operations.
AMA is a project of the Mining Ministers of the 10 ASEAN Countries and is handed out every two years. The next awards will be handed out in 2021 in Brunei.
Sumitomo Metal Mining Co., Ltd share is 54% and the 36% is held by Mitsui & Co., Sojitz Corporation (at 18% each)