BENGUET Corp. reported a first-half net income of P267.7 million in 2024, a 39-percent decline from P438.6 million a year earlier.
This despite an increase in the second quarter income to P215 million from P30 million in 2023.Second quarter consolidated revenues were said to have climbed to P825.2 million from P344 million due to the seven boatloads of nickel ore sold and the positive performance of the Acupan gold project in Itogon province.First-half revenues declined 19 percent to P1.3 billion from P1.6 billion because of lower nickel prices and a drop in volume of nickel ore disposed.
77 per ounce, compared to $1,998.89 per ounce last year, while nickel ore was sold at an average price of $30.94/ton from $29.78/ton.Benguet Corp. milled 4,307 tons of ore from April to June, with average grade of 8.79 grams per ton of gold compared to 6,700 tons of ore with grade averaging 5.91 grams per ton.Meanwhile, the company sold 1,009.67 ounces of gold for the second quarter, lower than the 1.074.08 ounces sold in 2023, while the sale of nickel ore increased from 109,080 tons to 372,660.
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