March 01, 2015 12:00 PM ET

Metals and Mining

Company Overview of Nickel Asia Corporation

Company Overview

Nickel Asia Corporation is engaged in the mining of various ore, metals, and minerals in the Philippines. The company operates four lateritic nickel mines, including Rio Tuba, Taganito, Cagdianao, and Taganaan mines, which are located in the southern half of the Philippines. The company produces and supplies lateritic nickel ore, limonite ore, and saprolite ore to ferronickel producers in Japan, and the Chinese trading and steel producing companies, as well as to the refiners of copper, gold, nickel, and zinc. It also provides limestone and marine services; and is involved in chartering of landing craft transport. As of December 31, 2013, the company had proved and probable saprolite ore res...

NAC Tower

28th Floor

32nd Street

Bonifacio Global City

Taguig City,  

Philippines

Founded in 1977

1,484 Employees

Phone:

63 2 892 6669

Key Executives for Nickel Asia Corporation

Nickel Asia Corporation does not have any Key Executives recorded.

Nickel Asia Corporation Key Developments

Nickel Asia Corporation Announces Executive Appointments, Effective from February 2, 2015

Nickel Asia Corporation announced appointments of Augusto C. Villaluna as Vice President for Operations and Gerardo Ignacio B. Ongkingco as Vice President for Human Resources, effective from February 2, 2015. The company also announced the appointment of Jose Roderick F. Fernando as Vice President for Legal and Special Projects from the earlier position of Vice President for Legal and Human Resources, effective from February 2, 2015.

Nickel Asia Corporation Announces Unaudited Consolidated Earnings for the Third Quarter and Nine Months Ended September 30, 2014; Announces Operating Results for the Nine Months Ended September 30, 2014

Nickel Asia Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the nine months, the company reported revenues were PHP 21,146,032,000 compared to PHP 8,197,023,000 for the same period a year ago. Income before income tax was PHP 14,531,411,000 compared to PHP 3,047,890,000 for the same period a year ago. Net income attributable to equity holders of the parent was PHP 8,181,545,000 or PHP 3.22 per diluted share compared to PHP 1,739,764,000 or PHP 0.69 per diluted share for the same period a year ago. Net of the one time gain, core income stood at PHP 7.76 billion. Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to PHP 14.1 billion compared to PHP 3.7 billion in the prior year. The sharp rise in earnings during the first nine months was mainly due to a combination of higher shipment volumes and nickel prices. The company also recognized additional earnings amounting to PHP 401.9 million, representing its share of profits from Taganito HPAL Nickel Corporation (THPAL), where the company has a 22.5% equity stake. For the quarter, the company reported operating revenue was PHP 11,807,742,000 compared to PHP 3,813,317,000 for the same period a year ago. Net income before tax was PHP 8,379,768,000 compared to PHP 1,786,175,000 for the same period a year ago. Net income after tax was PHP 6,084,011,000 compared to PHP 1,339,616,000 for the same period a year ago. Net income attributable to parent equity holder was PHP 4,881,914,000 or PHP 1.92 per diluted share compared to PHP 1,104,156,000 or PHP 0.44 per diluted share for the same period a year ago. Total volume of nickel ore sold and delivered from the company's four operating mines in the first nine months of 2014 reached 14.26 million wet metric tons (WMT) as against 10.32 million WMT in the same period last year. The surge in shipment volumes was mainly the result of increased ore deliveries to THPAL, which was commissioned last year and is now on its first full year of operations. Of the total volume of ore shipped, 4.79 million WMT was saprolite ore and 9.47 million WMT was limonite ore, which includes 5.38 million WMT delivered to both the Coral Bay and the Taganito processing plants.

Nickel Asia Corporation Declares Special Dividend, Payable on December 10, 2014

Nickel Asia Corporation declared a special dividend of PHP 0.50 per share, to be payable on December 10, 2014 as on record date of November 24, 2014.

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