Nickel Asia Corp. (NAC) more than doubled its nine-month attributable net income to ₱5.19 billion from ₱2.55 billionlast year, fueled by stronger ore prices and sales.
Revenues from saprolite and limonite nickel ore rose 41 percent to ₱20.96 billion, as ore sales inched up 2 percent to 13.89 million wet metric tons (WMT) and average prices climbed 39 percent to $26.55 per WMT.
CEO Martin Antonio Zamora said tight nickel supply and Indonesia’s stricter production policies continue to support elevated prices.
NAC also reported promising exploration results at its Cordon prospect in Isabela through Cordillera Exploration Co. Inc., its joint venture with Sumitomo Metal Mining.
Its renewable arm, Emerging Power Inc., now operates 172 MW via Jobin SQM Inc. and is expanding its solar portfolio. Zamora said NAC expects to end the year with “strong operational and financial results.”
