Benguet Corp. income up 267% on high metal prices

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Benguet Corp. reported its consolidated net income reached P1.4 billion in 2021, with high metal prices and favorable market conditions boosting profitability. | jordeenelagare

Nickel operations under Benguetcorp Resources Management Corp. accounted for 72 percent of revenues.

Gold contributed 25 percent, while the remaining 3 percent came from the company’s lime operations and health-care business. “The substantial growth was largely driven by higher demand for raw materials as global economies recover from the pandemic,” Benguet said. “Clearly, despite restrictive quarantine and strict adherence to minimum health protocols, the company remained focused on its production targets and business goals,” it added.Aside from mining and mineral exploration, the firm is also into health care and diagnostics services, mining logistics, trading of industrial equipment and supplies, port services and real estate development and lime production through various subsidiaries.

 

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