GFNI Marks First Nickel Ore Shipment to Indonesia, Eyes Strategic Expansion

Published: May 5, 2025 18:03

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Global Ferronickel Holdings, Inc. (GFNI), through its unit Platinum Group Metals Corp. (PGMC), marked its first nickel ore shipment to Indonesia on April 30, 2025, exporting 56,625 WMT of low-grade ore, signaling a strategic expansion beyond its primary market, China. PGMC targets 91 shipments totaling five million WMT this year, with a mix of 53% low-grade and 47% medium-grade ore. GFNI, one of the Philippines' top nickel exporters with operations in Surigao del Norte and Palawan, anticipates double-digit revenue growth in 2025 due to increased production, especially in Palawan, and enhanced port operations. In 2024, the company earned PHP 7.611 billion in revenue and PHP 743.9 million in net income, and has allocated PHP 711.8 million in 2025 for capital expenditures, including mine development, exploration, and investments in infrastructure and value-added processing such as ferronickel and battery-grade nickel.

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