Berong Nickel ore shipment lifts Atlas profits last year

Atlas Consolidated Mining and Development Corp. announced on April 30 that its net income grew six times in 2007, buoyed primarily by the ore shipment of its subsidiary, Berong Nickel Corp. (BNC). The mining company said its profits reached P289 million in 2007 as consolidated revenues surged to P1.344 billion from P64 million in 2006. According to Atlas, Berong Nickel contributed P1.253 billion of the profits, representing earnings from the shipment of saprolite and limonite ore equivalent to 530,168 wet metric tons with an average 1.53 percent nickel to Australia and China. The company also earned P80 million in 2007 from interest-bearing deposit instruments.

in Manila Times by Likha C. Cuevas-Miel
Thursday, May 01, 2008
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