Business World Online
Posted on December 06, 2011 09:39:29 PM
LISTED PHILEX Mining Corp.’s metal output and shipments rose in terms of value in the eleven months to November on the back of higher metal prices.
Philex Mining Corp. estimates that the value of ore from its Padcal mine in Benguet reached P14.92 billion for the January-to-November period. -- AFP
In a statement yesterday, the miner said that the estimated value of ore from its Padcal mine in Benguet reached P14.92 billion for the January-to-November period, up by 27% from the P11.75 billion in the same period last year.
Philex said the value of its shipments for the January-to-November period, meanwhile, climbed 19% to P12.58 billion from last year’s P10.57 billion.
However, for the month of November, the value of its metal output reached P1.403 billion, 1.2% lower than the P1.420 billion a year ago.
The miner’s ore shipments for November, meanwhile, was valued at P1.105 billion, down 53.2% from the P2.36 billion in the same month last year.
First Pacific, a majority owner of Philippine Long Distance Telephone Co. (PLDT), is the single largest shareholder in Philex with around 46.4% stake.
Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld.
Shares of Philex last traded at P22.30 apiece yesterday, down by 2.19% from the previous day’s P22.80. -- Louella D. Desiderio
Philex said the value of its shipments for the January-to-November period, meanwhile, climbed 19% to P12.58 billion from last year’s P10.57 billion.
However, for the month of November, the value of its metal output reached P1.403 billion, 1.2% lower than the P1.420 billion a year ago.
The miner’s ore shipments for November, meanwhile, was valued at P1.105 billion, down 53.2% from the P2.36 billion in the same month last year.
First Pacific, a majority owner of Philippine Long Distance Telephone Co. (PLDT), is the single largest shareholder in Philex with around 46.4% stake.
Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld.
Shares of Philex last traded at P22.30 apiece yesterday, down by 2.19% from the previous day’s P22.80. -- Louella D. Desiderio
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