Nickel Asia Corp. (NAC) reported a 93 percent rise in first-half 2026 attributable net income to P4.06 billion, up from P2.10 billion in the same period last year, it disclosed to the Philippine Stock Exchange on Thursday. The strong performance came from higher average ore prices, increased sales, and favorable peso-to-dollar exchange rates. Revenues from saprolite and limonite ore rose 45 percent to P15.39 billion, as the average selling price climbed 12 percent to $42.86 per wet metric ton (WMT) and total sales reached 8.65 million WMT, 10 percent higher year-on-year. Exports of the two ore types also grew 21 percent to 4.76 million WMT. Its renewable energy arm NAC Energy Inc. now has 293 megawatts (MW) of operating capacity, with generation jumping 68 percent to 213,186 megawatt hours (MWh) mainly from the newly activated 120 MW Leyte Phase 1 solar project. Exploration work at the Cordon copper-gold project in Isabela confirmed a consistent mineralized zone, with drilling set to continue this year to define reserves by 2027. NAC also completed checks for its planned $30 million purchase of a 20 percent stake in a Kazakhstan copper mine, part of efforts to expand its resource portfolio beyond nickel. President and CEO Martin Antonio Zamora noted the sector’s resilience amid global tensions, voiced confidence in nickel prices, and said renewable capacity is set to hit nearly 600 MW by end-2027.
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