Manila, Nov. 13 -- Global Ferronickel Holdings, Inc. (FNI), the second largest nickel ore exporter in the Philippines, saw its revenue and net income increase in the first nine months of 2019 buoyed by higher nickel ore prices.
In a statement, FNI said net income jumped by 35 percent to PHP804.95 million in January to September compared to PHP595.43 million in the same period last year.
Its revenues grew by 5.4 percent to PHP4.79 billion from PHP4.54 billion.
The average realized price of nickel ore sold in the first nine months continued to improve at USD19.88 per wet metric tons (WMT), up by 9.3 percent compared to last year.
"We are counting on the price of nickel to continue its upward momentum, especially with the Indonesian govern...