The Agata Direct Shipping Ore (DSO) Project is managed by joint venture company Agata Mining Ventures Inc. (AMVI or “Agata” / the “Company”)  and is the third mining project that TVI Resource Development Philippines Inc. (TVIRD) brought on-stream in a period of 10 years. The JV is 60% owned by TVIRD, which is also the technical service provider of Agata. The remaining shares are held by Minimax Mineral Exploration Corporation and MRL Nickel Philippines Inc.

Agata holds an Operating Agreement approved by the Mines and Geosciences Bureau – Department of Environment and Natural Resources. This agreement appoints Agata as operator of the project with the mandate to develop and operate the contract area, including the extraction and sale of iron, nickel and other associated minerals, in line with applicable permits and licenses.

Over the years, Agata has continuously proven that responsible mining exists in the Philippines. With its after-mine life vision of being an Agroforestry and Eco-tourism Hub, the Company became the first in the region to integrate the concept of sustainable agriculture and tourism within a mining area. With no significant findings from the regulating government agencies, Agata has received various national and international recognitions as a leading mining company in terms of environmental management and efforts during mining operation as well as in greenfield exploration. These include three Presidential Mineral Industry Environment Awards and an ASEAN Mineral Award in 2019.

Agata has invested over P560 million for its Environmental Protection and Enhancement Program and more than P95 million for its Social Development and Management Program since 2014. In 2022, the Company has garnered high scores in the Tenement, Safety and Health, Environment and Social Development  (TSHES) Audit conducted by the Mines and Geosciences Bureau Regional Office No. XIII – which concluded that Agata remains “the gold standard of compliance amongst its counterparts in the mining capital of the Philippines, the Caraga Region”. (Please see latest TSHES Audit here)

In November 2022, Agata declared the partial cessation of its mining operations and will transition into the implementation of its Final Mine Rehabilitation and/or Decommissioning Plan in 2023.

Nevertheless, the Mineral Production Sharing Agreement area where the Agata Nickel DSO Project is located remains valid until May 2049. This paves the way for the Company to pursue its limestone project as well as to study the technical and economic viability of other mineral prospects within the tenement.

The Agata DSO Project site is located in a 4,995-hectare Mineral Processing Sharing Agreement (MPSA) area in the adjacent municipalities of Tubay, Jabonga and Santiago in Agusan del Norte province. It is accessible by land (approximately 1.5-hours driving time) from the provincial capital of Butuan.

The project mine site is located 3.5 km from AMVI’s private port, which is strategically located within proximity to main markets in Asia and bears the opportunity for shipping all year round.

The Project is located in the Surigao mining region – a major supplier of nickel ore to processing plants in Australia, China, Korea and Japan. The region is also a major driver of the Philippines’ leadership in nickel production.

See Project Location Map below.

Project Location Map

In October 2014, AMVI commenced a detailed exploration program consisting of in-fill, data verification and step-out drilling on the Agata nickel laterite orebody to define ore extension within and outside the current pit design and to upgrade and increase the resources previously disclosed in a National Instrument (NI) 43-101 compliant mineral resource estimate released on April 10, 2013.

AGATA NORTH NICKEL LATERITE TOTAL REMAINING ORE RESERVE (as of January 1, 2023)

In its nine (9) years of operations since 2014, Agata has mined and exported an estimated 20 million WMT of nickel ore. This is equivalent to 375 shipments from the start of its mining operation. Out from the generated sales of these production, Agata has paid a total of Php 1,495,194,318 from 2014 up to December 2022 as part of its compliance obligations.

During its most recent business year, the Company exported 9 shipments of Limonite / HFO and 20 shipments of Saprolite to its direct Asian markets – which generated revenues of over $43 million.  Including premiums on nickel and iron as well as dispatch charges from operational efficiencies, total revenue has exceeded $45 million in 2022.