18
May
09:14
Nickel Asia 1Q net income slides on forex
Philippine nickel ore producer Nickel Asia saw its net income fall in the first quarter due to foreign exchange losses, Kallanish notes.
The group’s net income for the quarter slipped 8% to PHP 970 million ($17.25m) from PHP 1.05 billion a year ago.
Its mining revenues, however, rose by 5.7% to PHP 3.51 billion from PHP 3.32 billion a year earlier, driven by the combination of favourable exchange rates and better prices on export sales.
Operating mines s…
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Anonymous
Very good overview of the weekly steel market.
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