C07002-2016

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Dec 16, 2016
2. SEC Identification Number
ASO94-03992
3. BIR Tax Identification No.
003-871-592
4. Exact name of issuer as specified in its charter
Global Ferronickel Holdings, Inc.
5. Province, country or other jurisdiction of incorporation
Makati, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7F Corporate Business Center, 151 Paseo de Roxas cor. Arnaiz St. Makati City Postal Code 1228
8. Issuer's telephone number, including area code
(02) 519 7888
9. Former name or former address, if changed since last report
Southeast Asia Cement Holdings, Inc.
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
common shares 7,003,920,938
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Global Ferronickel Holdings, Inc.FNI

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification of News Report
Source BusinessWorld ( Internet Edition )
Subject of News Report DENR's Lopez cancels more ECCs
Date of Publication Dec 15, 2016
Clarification of News Report

The Commission requested the company to make a clarification on the news article entitled “DENR’s Lopez cancels more ECCs” posted in BusinessWorld (Internet Edition) on December 15, 2016. The article reported in part that:

“THE Department of Environment and Natural Resources (DENR) has canceled the environmental compliance certificates (ECCs) of seven projects, including three nickel miners, for failure to comply with the conditions of the permits.

In a press conference in Quezon City on Thursday, Environment Undersecretary for Legal Maria Paz G. Luna said the environmental permits of one resort and four mining projects were cancelled for failing to be launched within the mandated timeline after their ECCs are granted.

The resort was identified as Donggwang Clark Corp.’s Sacobia Sun Valley Resort project in the Clark Special Economic Zone, Pampanga, while the mining projects were those of Ipilan Nickel Corp. and Lebach Mining Corp. in Brooke’s Point, Palawan, Core Mining Corp. in Davao Oriental and United Paragon Mining Corp. in the Bicol Region. Cancellation of the ECC means the miners cannot operate anymore.

. . . .”

By way of reply to the Exchange's correspondence, we clarify that the DENR's public announcement of its cancellation of INC's ECC allegedly due to INC's failure to launch its project within the 5-year period from the issuance of its ECC is surprising and unfortunate. It is issued without procedural due process and without regard to numerous activities and milestones that INC has conducted and accomplished to date. The MGB and EMB could very well attest to the feasibility studies and work plans that INC have so far embarked on. INC has also implemented its community development plan in the area. Aside from several documentations for required permits that have been put in place, application for foreshore lease and land acquisitions for road lots have further been made by INC. Most important, INC has secured approval from MGB for its Operating Agreement with Celestial Nickel Mining and Exploration Corporation and for its Declaration of Mine Project Feasibility recently. If DENR had only observed the barest minimum of administrative notice and hearing, it would have readily appreciated all the time, efforts and resources invested by INC in launching an important project. In sum, INC has not violated any law or any condition in the grant of its ECC. INC thus intends to vigorously seek a reconsideration of this baseless and unlawful cancellation of ECC in due course.
Other Relevant Information

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Filed on behalf by:
Name Eveart Grace Pomarin-Claro
Designation Assistant Corporate Secretary, Alternate Corporate Information Officer