Benguet Profit Soars 119% on Lofty Gold, Nickel Prices

MANILA, Philippines — Capitalizing on a historic commodity supercycle that has sent international precious metal values into record territory, the country’s oldest mining institution has recorded an explosive fiscal start. Benguet Corporation’s first-quarter net income skyrocketed by 119% to reach ₱555 million, up from the ₱253.3 million logged during the same period last year.

The surge was fueled by a stellar performance across both its gold and nickel business units, which benefited from a perfect mix of elevated global pricing and aggressive export volume gains.

The mining firm’s operational metrics show an impressive, concurrent climb across its two primary resource portfolios during the first three months of the year:

                  [ Q1 PREMIUM METAL REVENUE PROFILE ]
                                   │
         ┌─────────────────────────┴─────────────────────────┐
         ▼                                                   ▼
   [ THE HISTORIC GOLD SURGE ]                         [ THE NICKEL SHIPPING INFLUX ]
   • **Average Realized Price:** Surged **70.4%** to    • **Average Realized Price:** Climbed **11.1%** to 
     reach an unprecedented **$4,885.57 per ounce**.     **$38.04 per ton**.
   • **Sales Volume Gains:** Total volume shipped      • **Export Logistics:** Shipments of raw nickel ore 
     increased **49%** to touch **2,121.22 ounces**.     to China jumped to **469,245 tons**.

Thanks to this dual commodity boom, the mining firm’s total consolidated revenue for the quarter expanded significantly to hit ₱1.78 billion, comfortably outpacing its previous baseline.

However, the company’s financial disclosures also highlighted the rising costs of extracting and shipping raw resources in a high-inflation environment:

[ Q1 Consolidated Revenues: Hit ₱1.78 Billion ]
                        │
                        ▼ (42.3% Surge in Running Costs)
[ Total Operating Expenses Balance: Touched ₱1.02 Billion ] ──► Driven by Higher Logistics & Freight Rates
                                                                        │
                                                                        ▼
[ Increased Fiscal Surcharges: Elevated Production Taxes ] ◄── Triggered Directly by Higher Revenue Brackets

While the ₱1.02 billion operating expense mark reflects the rising costs of fuel, transport, and equipment maintenance, the sheer strength of the company’s top-line revenue comfortably absorbed the extra costs, preserving its wide profit margins.

To lock in this strong financial momentum, Benguet Corporation is aggressively moving forward with development, expansion, and diversification projects across its mining portfolio.

Active Resource Asset	Geographic Project Location	Current Operational Status & Objective
Acupan Gold Mine	Benguet, Philippines	Undergoing a major expansion; target completion is locked in for later this year to boost daily milling capacities.
Pantingan Gold Project	Bataan, Philippines	Advancing through exploratory drilling phases to map out scalable underground gold veins.
Nickel Ore Operations	Regional Ph Clusters	Actively scouting and acquiring fresh nickel tenements to meet long-term Chinese industrial demand.
Diversified Portfolios	Local Sites / Nevada, USA	Progressing through initial exploration loops for various minerals locally, while maintaining strategic overseas holding assets.

With international gold values holding steady near historic highs due to global inflation concerns and geopolitical tensions, Benguet Corporation’s leadership remains highly confident about its full-year outlook. By scaling its mining operations and capitalizing on high commodity prices, the country’s pioneer mining house has successfully set a incredibly strong baseline for the rest of its fiscal year.