Century Cancels Philippines Nickel Project

Business Mirror reported Century Peak Metals Holdings Corp. will no longer build a multibillion-peso ferro-nickel smelting facility in the Philippines.

As quoted in the market news:

Century Peak said in a Philippine Stock Exchange filing that subsidiary Century HuaGuang Smelting Inc. (CHGSI) will discontinue the development of the facility and other related operations the Leyte Industrial Development Estate.

The company said before that its partner in the project is Zhejiang Hua Guang, said to be one of China’s biggest producers of nickel pig iron, a low-grade ferronickel used in the production of stainless steel.

Click here to read the full Business Mirror report.