By
VG Cabuag - August 28, 2019
DMCI Mining Corp., a
unit of publicly listed DMCI Holdings Inc., on Tuesday said its shipment of
nickel ore grew 41 percent during the first half of the year, even though the
company has not been able to mine all of its sites.
The company said it
shipped 343 thousand wet metric tons during the second quarter, raising its total
shipment in the first semester to 681 thousand WMT, a 41-percent increase from
the 483 thousand WMT it shipped during the same period last year.
All of the shipments
came from Berong Nickel Corp.
DMCI Mining’s other
nickel asset, Zambales Diversified Metals Corp. (ZDMC), has complied with the
conditions set by the Department of Environment and Natural Resources for the
lifting of its November 2018 suspension order.
“The Mines and
Geosciences Bureau reviewed the remedial actions taken by ZDMC last April 2019,
and confirmed that all the specified conditions of DENR have been met,” DMCI
Mining President Cesar F. Simbulan Jr., said.
“MGB has also
recommended the lifting of the suspension. Hopefully, the DENR central office
will reach a decision before the end of this year,” he said.
On a stand-alone basis,
DMCI Mining recorded flat revenues of P985 million in the first half of 2019 as
its shipment of mostly lower-grade nickel commanded a lower average selling
price.
Average nickel grade
during the period dropped 8 percent from 1.73 percent to 1.6 percent. Average
selling price fell 28 percent to $28 from $39.
In the first six months
of the year, DMCI Mining saw its stand-alone net income decline 19 percent
year-on-year from P316 million to P254 million.
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