Benguet—(PHStocks)— At its Annual Stockholders Meeting today, Benguet Corporation reported consolidated net income in 2012 of Php637 million from revenues of Php1.8 billion, steadily sustaining its growth from the previous year. This was spurred by increased revenues from the nickel operation contributing 61% and the gold operation accounting for 24% of the total.
Operating revenues significantly increased by 83% to Php1.8 billion in 2012 from Php994 million in 2011. The Company’s nickel operation, operated by its subsidiary Benguetcorp Nickel Mines, Inc. (BNMI) contributed Php1.1 billion or an increase of 120% from the Php501 million in 2011.
Total volume of nickel ore shipped reached 1.5 million tons, with BNMI’s own operation accounting for 735,000 tons equivalent to 15 boatloads, with the balance provided by its contractor in the designated area.