Benguet Corporation has posted a net income of PHP 623.9 million in the first half of 2025, from PHP 267.7 million in the same period in 2024, according to the company’s SEC Form 17-Q filed on August 19, 2025.
Revenue climbed to PHP 2.147 billion, up approximately 66% from PHP 1.295 billion last year, driven by strong sales from both gold and nickel operations.
The Sta. Cruz Nickel Project shipped 709,170 tons of ore across thirteen boatloads in the first half. Nickel products sold at an average of USD 37.62 per ton.
The Acupan Gold Project sold approximately 3,123 ounces of gold at an average of USD 3,080 per ounce, supporting higher revenues from the mine.
Beyond core operations, Benguet Corp. continues to fund exploration, including drilling in Bataan’s Pantingan Gold Prospect and development of quarry permits. The sales of gold and nickel, along with smaller contributions from quicklime, remain as the main drivers for capital expenditures.
Subsidiaries in logistics, ports, and healthcare reported growth—including logistics arm AFCC, which saw net income rise to PHP 27.6 million from PHP 21.1 million—supporting the company’s diversified income streams.
The company highlighted risks from volatile commodity prices and regulatory changes, but remains optimistic that performance in the coming months will depend on global prices of gold and nickel, currency movements, and regulatory policies.
What do you think? Can Benguet sustain its growth momentum as global gold and nickel prices remain volatile?
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