Nickel miner says unit unaffected by Mindanao martial law

Global Ferronickel Holdings Inc. (GFNI), the Philippines's second largest nickel miner, on Wednesday said its unit operating in Mindanao is unaffected by the declaration of martial law in the island.

In a disclosure to the Philippine Stock Exchange, the company said its wholly-owned subsidiary Platinum Group Metals Corp.'s (PGMC) remain unhampered by the political crisis in Mindanao.

Late Tuesday, President Rodrigo Duterte declared martial law for a period of 60 days in Mindanao amid ongoing clashes between government forces and the Maute group in Marawi City, Lanao del Sur.

"Aware of the constitutional safeguards, business establishments are open and operating," the company said.

"For its part, FNI assures its stakeholders that the PGMC mine in Surigao del Norte continues to meet its commitments even as it joins the country in wishing for a peaceful and speedy resolution of the conflict gripping the area," it added. — John Ted Cordero/BM, GMA News