Listed mining company Benguet Corp. reported a 133 percent surge in net income for the first half of 2025, driven by higher global metal prices and increased nickel and gold output.
In a disclosure on Wednesday, the company said net income rose to ₱624 million from ₱268 million in the same period last year. Revenue climbed 61.5 percent to ₱2.1 billion, up from ₱1.3 billion in the first half of 2024.
Benguet Corp. attributed the robust financial performance to stronger commodity prices, particularly in the nickel and gold segments.
Its nickel mining arm, Benguetcorp Resources Management Corp., sold 13 boatloads of nickel ore with a total volume of 709,170 metric tons (MT) valued at ₱1.5 billion. This compares with 10 boatloads totaling 537,000 MT worth ₱944.4 million in the same period last year. The average selling price of nickel ore rose 21.7 percent to $37.63 per ton, from $30.93 in the first half of 2024.
Meanwhile, the Acupan Gold Project (AGP) contributed ₱548.7 million in revenue, a 92 percent increase from ₱285.8 million last year. Gold sales grew to 3,122.98 ounces, up 35 percent from 2,313.06 ounces year-on-year.
Benguet Corp. currently produces and markets gold, silver, nickel ore, and limestone, operating gold mines in Benguet, nickel mines in Zambales, and a limestone facility in Baguio City.
The company said it expects to sustain momentum in the second half of the year, citing favorable market conditions and stable production output.
