BENGUET Corp., the country’s oldest mining firm, said on Friday it incurred a net loss of P18.6 million in the first quarter of 2017, reversing the P55 million net income booked in the same period last year, due to a decline in nickel revenues.
In a financial report, Benguet Corp. said the decline in nickel revenues was mainly due to the Department of Environment and Natural Resources’ (DENR) suspension order on its wholly owned subsidiary Benguetcorp Nickel Mines Inc. (BNMI).
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