Nickel Asia shipments up 16% in 9 mos
Nickel Asia Corp. said ithe total estimated value of its shipments rose 16 percent to P11.65 billion due to higher nickel prices and a favourable exchange rate.
The company sold a total of 14.24 million wet metric tons off nickel ore from its four operating mines, lower than the 15.18 million WMT sold a year ago.
The average exchange rate during the period was P50.29 compared to P46.38 the previous year.
The Taganito mine accounted for 44 percent of total shipments during this period followed by the Rio Tuba mine which comprised 31 percent of total shipments.
Shipments from the company’s Hinatuan and Cagdianao mines fell due to a late start of shipments this year as a result of prolonged heavy rains.