By Rhea Sandique-Carlos

MANILA--Philippine conglomerate DMCI Holdings Inc. (DMC.PH) said Thursday its wholly-owned nickel mining unit DMCI Mining Corp. has acquired Daintree Resources Ltd.'s 17% stake in Toledo Mining Corp. (TMC.LN).

DMCI Holdings said in a statement it bought 8.48 million shares at a price of GPB0.40 ($0.25) a unit.

Early this week, DMCI Mining also acquired a 31% stake in Nickeline Resources Holdings for $6.552 million.

Nickeline owns 60% of Berong Nickel Corp., a joint venture between Toledo Mining, Atlas Consolidated Mining and Development Corp. (AT.PH) and ENK PLC (ENK.LN), which is owned 87.7% by DMCI along with D&A Income Ltd.

Write to Rhea Sandique-Carlos at rhea.sandique-carlos@dowjones.com

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