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Benguetcorp Nickel Mines approves P150 million cash dividend...

In a recent Board of Directors Meeting, Benguetcorp Nickel Mines, Inc. (BNMI) approved a declaration of cash dividend amounting to P150M or P0.12 centavos per share, culled from its net earningsof P156.3M in 2011.
BNMI is a wholly-owned subsidiary of Benguet Corporation (BenguetCorp), and is the operator of the company's Sta. Cruz Nickel Project (SCNP) in Zambales.

Since it commenced operations in 2009, BNMI has accounted for a considerable share in BenguetCorp's consolidated net earnings, and has consistently showed indications of further growth.

BNMI is currently ramping up its operations through its expanding drilling program, and mine development.

It has also partnered with Arrow Freight Corporation, another BenguetCorp subsidiary engaged in mining logistics, to conduct the hauling, shipment, and port management services of its nickel products, to further maximize its profit potential.

BNMI has already signed two off-take agreements with two Chinese trading firms for the sale and delivery of 3.6 million tons of nickel ore, with grades ranging from 1.6% to 1.8%.

At present, it is studying different processes using its low and medium grade ore to produce a higher value material for export.
 

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"Benguetcorp Nickel Mines approves P150 million cash dividend" was written by Mary under the Business category. It has been read 1327 times and generated 0 comments. The article was created on and updated on 18 September 2012.
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