LISTED Oriental Peninsula Resources Group Inc. (ORE) is studying Aklan province in Western Visayas as a possible location for its proposed ferronickel plant and coal-fired power plant.

In a recent interview, ORE Vice President for administration Ferdinand Pallera said the mining company is proposing to establish the facilities in Aklan, citing its strategic location in terms of logistics.  

“The business models we are conceptualizing are appropriate to Aklan,” Pallera said. He clarified that ORE is also eyeing other locations, including mainland China. He said the company may tap Chinese partners to build the facilities.

ORE Chairman and President Caroline Tanchay said in September the company expects to invest up to $300 million for the power and nickel processing facilities.

ORE currently owns two nickel mines in Palawan through subsidiary Citinickel Mines and Development Corp.

Citinickel started operations at its mine in Española, Palawan during the third quarter and commenced operations at its Narra site in March.

The company plans to end the year with 23 nickel ore shipments to its Chinese and Australian clients said Pallera, who also serves as Citinickel president. He said the company will ship 2.4 million tons of nickel ore in 2012, roughly double its output this year.

ORE reported earlier that net income in the three months to June jumped to P280.38 million, reversing a net loss of P8.73 million in the same period last year, while revenues amounted to P506.33 million. Gross mining revenue stood at P312.91 million as production costs hit P193.42 million.

The miner did not book mining revenues last year as it only started commercial operations toward the end of the first quarter of 2011.  ORE shares added 1.27 percent to P3.99 each on Friday’s trading.