Nickel Asia Unit Inks Zambales Exploration Deal

MANILA, Philippines — Moving decisively to secure long-term raw material pipelines amidst shifting global commodities pricing, the country’s largest nickel producer is expanding its extraction footprint in Central Luzon. Nickel Asia Corp. (NAC) has formalized an operating agreement to acquire extensive mineral exploration rights in Zambales province.

The transaction was executed via NAC’s wholly owned corporate subsidiary, Samar Nickel Mining Resources Corp., which signed a deal transferring operating access from a localized holder.

The agreement gives Samar Nickel exclusive operational control over a massive, contiguous mineral claim located in an established mining corridor:

                       [ THE ZAMBALES EXTRACTION BOUNDARY ]
                                        │
        ┌───────────────────────────────┴───────────────────────────────┐
        ▼                                                               ▼
   [ ADMINISTRATIVE LOCATION ]                                     [ REGULATORY ASSIGNMENTS ]
 • **The Dual-Town Boundary:** The concession area stretches directly • **MPSA No. 265-2008-III:** The mineral rights are bound to an 
   across the municipalities of **Candelaria and Sta. Cruz**.        • active, 25-year state-sanctioned Mineral Production Sharing 
 • **Massive Total Footprint:** The operational boundaries cover    • Agreement held by local firm **San Juanico Resources Corp**.
   a total area of **3,432.07 hectares**.                           • **The Target Ore:** Geological evaluations indicate the zone is 
 •                                                                   • rich in lateral nickel ore and associated metal groups.

The newly finalized exploration expansion follows a challenging first-quarter financial reporting cycle for the mining conglomerate, demonstrating a strategic focus on future asset reserves:

[ THE FINANCIAL & OPERATIONAL BALANCING ACT ]
                   │
                   ▼
[ The Earnings Dip ]     ──► NAC reported a 26 percent drop in first-quarter net income, sliding down to 
                             **₱371.77 million** for the quarter.
                             │
                            ▼
[ One-Time Distortions ] ──► The dip stems from the absence of last year's massive ₱800.49-million one-time asset sale 
                             gain, when the firm divested its minority stake in Coral Bay Nickel.
                             │
                             ▼
[ Revenue Foundation ]   ──► Baseline revenues climbed 3 percent to **₱2.42 billion**, lifted directly by stronger global 
                             ore prices that helped offset slightly lower overall shipping volumes.

The Zambales deal serves as a foundational launchpad for Samar Nickel Mining Resources Corp., which has held non-operating exploratory status until this acquisition.

Operating Mining Site	Geographic Location in the PH	Main Contribution to the Consolidated Base
Rio Tuba Mine	Bataraza, Palawan	The flagship asset, supplying high-grade saprolite and limonite ore.
Taganito / Tagana-an	Claver, Surigao del Norte	Primary extraction hubs supporting direct exports to processing plants in Asia.
Cagdianao / Manicani	Dinagat Islands / Eastern Samar	High-yield coastal deposits built with direct maritime shipping terminals.
Dinapigue Mine	Dinapigue, Isabela	Northern Luzon reserve asset balancing seasonal weather disruptions.
The New Zambales Site	Candelaria & Sta. Cruz, Zambales	Awaiting MGB Approval; designed to secure the group’s long-term production.

“The said Operating Agreement shall be submitted with the MGB and will become effective upon approval of the Mines and Geosciences Bureau… The areas covered are believed to contain nickel ore and other associated minerals that can be extracted under the MPSA,” the corporate board noted in its official disclosure files, holding back on specific spending estimates or drill schedules until regulatory sign-offs are complete.

The exploration agreement between Nickel Asia’s Samar unit and San Juanico Resources marks a highly strategic move to shore up long-term domestic ore reserves. By locking down over 3,400 hectares in the mining corridors of Candelaria and Sta. Cruz, NAC is positioning itself to benefit from stronger global metals pricing. While their first-quarter earnings report showed a superficial 26 percent drop due to the lack of a one-time asset sale gain, their core revenues actually grew to ₱2.42 billion. As the company submits this agreement to the Mines and Geosciences Bureau for final approval, expanding into Zambales alongside their existing six mines ensures that NAC remains well-equipped to meet global clean energy and industrial manufacturing demands throughout 2026.