China’s Jinchuan Group Ltd has renewed its interest in investing as much as USD 1.5 billion in the rehabilitation of the Nonoc nickel mines in Surigao province of the Philippines. It is reported that the company would likewise pursue other mining projects and a refinery as well. Located on Nonoc Island off Surigao City, the nickel mine is touted to hold one of the biggest nickel and cobalt resources in Southeast Asia. The Nonoc mine, which has about 60 million tonnes of nickel ore reserves, halted operations in 1982 due to high energy costs. Philnico is 55% owned by Hong Kong based Compline Resources Co, 30% by Australia’s Pacific Energy Ltd and the rest by local investors.
