DMCI Mining Corporation shipped 156 thousand wet metric tons (WMT) of nickel ore inventory during the first three months of the year, flat from the volume logged last year.

Average selling price per metric ton was also flat at US$38.

Majority of the shipments, or 106 thousand WMT, came from the old stockpile of Berong Nickel Corporation (BNC) while the rest were from the inventory of Zambales Diversified Metals Corporation (ZDMC).

Average grade of the nickel sold during the period was 1.70 percent, a 12 percent improvement from 1.52 percent last year.

Meanwhile, average cash cost increased 5 percent from US$22 to U$23.

“Shipping higher grade nickel ore and lower depreciation expenses allowed us to sustain our operations and grow our earnings,” said DMCI Mining president Cesar F. Simbulan.

DMCI Mining recorded a profit of P68 million from January to March this year compared to P15 million during the same period last year, a more than threefold increase (347%).

“We remain optimistic that the suspension and closure orders on BNC and ZDMC will be lifted within the year. Both have shown proof of their compliance to Philippine mining rules and regulations,” Simbulan added.