AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home Business

ANGAT NG 6%: Nickel Asia grosses P 4.22 billion for 2018

AngMinero News by AngMinero News
March 15, 2019
in Business, News
28 0
0
UMAASA LANG BA? OceanaGold expects growth in EPS analysts say
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Net income for Nickel Asia Corporation increased to P 4.22 billion in 2018 due to upsurge in shipment volumes and added profits accumulated from its two processing plant, the firm said Thursday through a disclosure.

The total amount of the net income increase in 2018 is a growth of six percent from the year it followed where a profit of P 3.85 billion was recorded.

Combined additional profit from Nickel Asia’s Taganito and Coral Bay processing plants is said to be 75 percent higher from P 198 million in 2017 and P 348 million last year.

Meanwhile, from P 15.74 billion in 2017, revenue earnings for last year reached P 18.65 billion due to increased shipments of its higher-value saprolite ore and a stronger US dollar.

Saprolite ore’s amount sold last year was 11.54 million wet metric tons (WPS), 19.7 percent more compared to 9.64 million WMT. On the other hand, from 17.7 million WMT in 2017, 19.3 million WMT of nickel ore was sold by the company last year.

Prices received for sales of the two ore types was at an average of $ 16.86 per WMT in 2018 which is 4.26 percent higher than 2017’s $16.17 per WMT.

“As we look at the medium-term prospects of our company, we believe that LME-linked nickel has the [greatest] potential to outperform the commodity market, given the evolution of battery technology. We are fortunate that a sizeable segment of our market is able to capture this,” Nickel Asia President Martin Antonio Zamora was quoted in an article by The Manila Times.

Zamora said they are very pleased by the company’s performance for 2018. This is despite the challenges Indonesia brought up with the country’s ore supply increase.

Tags: Coral Bay processing plantIndonesiaNickel Asia CorporationNickel oreSaprolite oreTaganito processing plant

Related Posts

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping
News

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping

September 29, 2025
Immigrations turns to SolGen after CA orders release of FNI chair
News

Immigrations turns to SolGen after CA orders release of FNI chair

September 26, 2025
Misamis Oriental eyes legal ‘Minahan ng Bayan’ in Opol
News

Misamis Oriental eyes legal ‘Minahan ng Bayan’ in Opol

September 26, 2025
Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government
News

Immigration Arrests Nine Chinese Workers in Masbate Mining Sites

September 25, 2025
FNI First-Half Profit Surges 206% on Higher Nickel Prices
News

CA Orders Immediate Release of FNI President Joseph Sy, Citing Citizenship Ruling

September 24, 2025
CCOP Members Agree on Strategic Priorities for 2026–2030 Plan
News

CCOP Members Agree on Strategic Priorities for 2026–2030 Plan

September 23, 2025

FEATURED POST

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping

September 29, 2025
Immigrations turns to SolGen after CA orders release of FNI chair

Immigrations turns to SolGen after CA orders release of FNI chair

September 26, 2025
Misamis Oriental eyes legal ‘Minahan ng Bayan’ in Opol

Misamis Oriental eyes legal ‘Minahan ng Bayan’ in Opol

September 26, 2025
Mining Fiscal Regime Overhaul Awaits Marcos’ Signature, Promises Predictability for Investors and Higher Revenues for Government

Immigration Arrests Nine Chinese Workers in Masbate Mining Sites

September 25, 2025

EDITOR PICK'S

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping

September 29, 2025

Immigrations turns to SolGen after CA orders release of FNI chair

September 26, 2025

Misamis Oriental eyes legal ‘Minahan ng Bayan’ in Opol

September 26, 2025

Immigration Arrests Nine Chinese Workers in Masbate Mining Sites

September 25, 2025

CA Orders Immediate Release of FNI President Joseph Sy, Citing Citizenship Ruling

September 24, 2025

CCOP Members Agree on Strategic Priorities for 2026–2030 Plan

September 23, 2025

MGB Places Field Teams on Higher Alert for Typhoon Nando

September 22, 2025

Recent News

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping

PHP 500-M Coal Expansion Project in Lake Sebu Faces Public Scoping

September 29, 2025
Immigrations turns to SolGen after CA orders release of FNI chair

Immigrations turns to SolGen after CA orders release of FNI chair

September 26, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In