Philex 9-mth net income falls 20% on lower metals prices

PHILEX Mining Corp., the country’s biggest gold producer, on Thursday said its net income dropped by a fifth in the first nine months of the year due to depressed metals prices in the world market.

In a disclosure to the Philippine Stock Exchange, Philex said its net income declined to P756 million in January-September 2015, down 20.5 percent from P951 million a year earlier.