Benguet Corp. said revenue more than tripled in the first half on the back of higher gold and nickel prices.
Nickel and gold prices increased 77 percent and 10 percent from a year ago.
The listed miner said mid-year revenue climbed to P2.3 billion, more than triple compared to the revenue of P702 million in the same period last year.
After tax income improved to PP822 million, or eight times the P99-million income it booked in the same period last year.
Benguet Corp. said bullish demand and good weather prevailed, which allowed its wholly-owned nickel subsidiary to triple its export volume to 799,000 tons of ore equivalent to 15 boatloads, compared to 265,000 tons or 5 boatloads last year.
Gold production also increased by 44 percent, as operations returned to near-normal following the implementation of health and safety protocols amid the pandemic.
