Australia Stock Exchange-listed Rusina Mining NL is set to ship 50,000 metric tons (MT) of direct shipping nickel ore to China in the third quarter of this year. This will be an initial shipment out of a yearly targetted output of one million MT. Mine life under resource estimate is 33 years.

But its goal is to eventually process the ore which will multiply ore value by 10 times, according to Robert G. Gregory, RMN chief executive officer and managing director.

"If you process it in the Philippines, the Philippines will make more money," he said.

The company is keen at the processing business specially with the foreseen expansion in the resource estimate of its Acoje project. Acoje is targeted to expand its resource from 33 million MT containing one percent nickel to maybe 60 million to 90 million MT. From the yearly one million MT output in its early years, RMN aims to raise this to two to three million MT yearly.

RMN even targets a higher nickel grade of two to three percent from its on-going exploration in Acoje.

The first processing plant, which may cost $ 50 to $ 100 million, involves ferro-nickel smelting in partnership with DMCI Holdings which is now conducting a feasibility study (FS) on the plant.

Its product is pig iron which is a feed for stainless steel. DMCI owns the coal plant (Semirara), so the smelting operation is expected to become even cheaper. RMN eyes a 40 percent interest in the smelter.

The second processing plant is a heap leach process which involves a chemical process, costing some 0 million, for which the European Nickel PLC is also now conducting an FS. The FS will cost million