Atlas Consolidated Mining and Development Corporation said it is planning to reopen its Berong nickel mine this year at Palawan in Southern Luzon, Philippines.
Atlas said the rising price of nickel, which hit at $8.13 a pound last week compared to $6 per pound in the first quarter of 2009, justifies the mine’s opening.
Earlier in February 2009, the company shut down its Berong nickel mine due to reduced metal prices and soft demand.
The miner told Business World Online it is carrying out a feasibility study to develop a metal processing pant to create a value-added product.
Berong Nickel is a joint venture that includes European Nickel, Atlas Consolidated and Toledo Mining Corp.