Published November 22, 2018, 10:00
PM By James
A. Loyola
DMCI Mining Corporation reported
that its net income almost doubled during the first nine months of 2018, rising
94 percent to P206 million from P106 million in the same period last year.
In a disclosure to the Philippine
Stock Exchange, parent company DMCI Holdings said revenues grew 40 percent from
P700 million to P978 million for the first nine months of 2018 due to the
shipment of higher-grade ore higher nickel prices.
DMCI Mining registered a 1 percent
uptick in nickel shipments from January to September this year as both its
nickel assets made no shipments during the third quarter.
Zambales Diversified Metals
Corporation (ZDMC) continued to await the reissuance of its port permit while
poor weather conditions prevented Berong Nickel Corporation (BNC) from making
any shipment.
From July to September this year,
DMCI Mining recognized a P110 million loss due to the absence of revenue to
cover its operating expenses.
For the 9-month reporting period,
DMCI Mining shipped 482,762 wet metric tons (WMT) of nickel ore compared to
476,155 WMT the year before.
A majority of the shipments, or
430,000 WMT, came from the old stockpile of BNC while the rest were from the
inventory of ZDMC.
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