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BusinessWorld
April 30, 2021 | 6:34 pm
http://www.philexmining.com.ph/
Philex Mining Corp. reported a more than fivefold increase in profit in the first quarter, fueled by higher gold and copper prices in the global market.
The listed miner told the stock exchange its net income attributable to equity holders of the parent company surged to P559.57 million in the January to March period, from P102.3 million during the same period in 2020.
Core net income increased over five times to P540 million, as revenues rose 38% to P2.37 billion.
Philex Mining said realized gold prices hit $1,781 per ounce in the first quarter, up 11% from year ago levels. Realized copper prices stood at $3.95 per pound in the first quarter this year, 68% higher than a year ago.
January 22, 2021 | 7:55 pm Font Size
REUTERS
The Philippines and Indonesia have pledged to deepen ties to boost their copper industries, according to the Trade department.
Officials from both countries met virtually on Jan. 14 to exchange information, share good practices, and present investment opportunities and areas for collaboration in the sector, the Philippine Trade department said in a statement on Friday.
During the meeting, Trade Undersecretary and Board of Investments (BoI) Managing Head Ceferino S. Rodolfo said Indonesia could help the Philippines boost its copper production, transport and storage and marketing.
BoI Executive Director Ma. Corazon Halili-Dichosa said the two countries can collaborate to boost their copper industries and improve their integration in global value chains. “This will only be one of the many bilateral initiatives for the copper industry.”