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Benguet receives dividend from nickel subsidiary

November 23, 2011 ·  , benguetcorp.com

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Benguetcorp Nickel Mines, Inc. (BNMI), Benguet’s nickel subsidiary, today paid cash dividends to its parent company equivalent to P32.00 per share as previously announced. In 2010, BNMI reported net earnings of P101 million from direct shipping ore operations in Sta. Cruz, Zambales involving high-grade nickel ore.

Consistent with its medium term plan to transform the company from a direct ore exporter into processed nickel producer, BNMI is presently studying different processes using its low grade nickel to produce a higher value material for export. BNMI has signed a cooperation agreement with a reputable Chinese institute engaged in research, design and development of thermal energy technology.

The operations of BNMI in Zambales is contributing to the social upliftment of the community by providing local employment and other community services, such as scholarship programs, feeding programs, medical missions, livelihood projects and tree planting activities. Since 2008, BNMI has planted a total of 48,100 trees in Sta. Cruz, Zambales covering an area of 28.68 hectares.

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