Photo credit: Benguet Corp
Listed miner Benguet Corporation (BC) registered consolidated revenues of PHP4.03 billion in 2022, up by 5 percent from PHP3.84 billion in the previous year.
In a statement issued on Monday, the company said its revenues were generated mainly from nickel, gold and lime sales.
It sustained strong performance with operating income that rose from PHP1.57 billion in 2021 to PHP1.66 billion in 2022.
After tax, net income stood at PHP1.33 billion lower compared to PHP1.42 billion in 2021 as fluctuations in non-cash revaluation adjustments declined but still commendable given the current economic volatility due to pandemic hangover.
The upward trend was supported by elevated metal prices and favorable foreign exchange that prevailed through most of the year, it said.
During the 68th annual National Mine Safety and Environment Conference held last Nov. 18, the company’s nickel subsidiary, Benguetcorp Resources Management Corporation, was the recipient of Platinum Achievement Award – Surface Mining Operation Category, while Irisan Lime Project (ILP), also a subsidiary, was a runner-up in the Safest Mineral Processing – Calcining Plant Category Award.
Benguet Corporation said these awards are testament to its sustainability endeavors and commitment as a responsible mining company.
Article courtesy of the Philippine News Agency