Company Profile

1966 and 1967 were the years of the so-called mining boom throughout the world, and in the Philippines too, exploration work was undertaken on a highly active scale. It was during this period that the wide distribution of laterite in this area was discovered by prospectors, which led to subsequent exploration.

In the early part of February 1967, a survey team was formed and as a result of its survey, the existence of a nickel deposit was confirmed. On 14 March 1967, 300 mining claims were staked, following which an application for them was filed with the Mining Recorder in Puerto Princesa on 27 March of the same year. More mining claims were subsequently applied for and now the number of claims total 695.  Lease contracts have been issued on 110 of the above claims, covering the reserves of the Guintalungan and Mangingidong areas.

Rio Tuba Nickel Mining Corporation (RTNMC) was incorporated on July 15, 1969.  A memorandum concerning defrayment of expenses on exploration and technical assistance was entered into between RTNMC and Universal Oil Products Company (UOPC) on 6 October, 1969, which was subsequently amended on 16 November, 1970.

RTNMC filed an application for registration with the Board of Investments pursuant to the Republic Act No. 5186, namely Investments Incentives Act, on 6 November, 1970, and on 22 July, 1971, it also filed an application for tax exemption with the Bureau of Mines pursuant to the Mining Act as revised namely under Section 79-A of the republic Act No. 3823.

In April 1977, the first shipment to Japan of beneficiated nickel ore was made.

Milestones