Global Ferronickel Holdings Inc. (FNI) reported a 203 percent jump in net income to ₱1.53 billion for the first nine months of 2025, up from ₱502.6 million in the same period last year.
The mining firm said the surge was driven by operational efficiency, cost control, and higher nickel prices, which offset a decline in shipment volumes caused by prolonged rains in its Palawan and Surigao sites.
Revenues climbed 16.6 percent to ₱6.68 billion from ₱5.73 billion, boosted by a 36.8 percent increase in average nickel ore prices to US$31.99 per wet metric ton (WMT). However, total shipments dropped 14.2 percent to 3.66 million WMT from 4.27 million WMT a year earlier.
FNI said it expects continued growth, citing forecasts from the International Nickel Study Group (INSG) that global demand for stainless steel and batteries—both key uses for nickel—will remain strong, even as supply growth faces regulatory constraints in Indonesia.
“Our strong results reflect disciplined cost management and strategic foresight. We’re well-positioned to sustain profitability through operational excellence,” said FNI president Dante Bravo.
FNI’s main unit, Platinum Group Metals Corp., is the Philippines’ second-largest nickel ore producer. The company has also diversified into nickel processing, cement manufacturing, port operations, and logistics.
