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MANILA, Philippines -- Philex Mining Corp., the Philippine's oldest and largest mining operator, said Tuesday its unaudited net profit in 2007 jumped nearly 63 percent to P5.0 billion, boosted by higher metal production and rising prices.

Operating revenue rose 22.4 percent to P12.2 billion, it said.

No other details were provided.

Philex currently operates gold and copper mines in Benguet province in Luzon, north of the capital Manila. It is also undertaking a feasibility study for the Boyongan site located in southern Philippines.

Philex shares today closed flat at P9.00. By Rocel Felix

($1 = P40.72)

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• Globe Telecom less upbeat on industry outlook for 2008
• RCBC reports record earnings in 2007
• Asia shares hamstrung by bank worries, bonds up

• (UPDATE 2) Q2 growth slows to 4.6%
• Gov't revises down Q1 GDP growth to 4.7%
• (UPDATE) Central bank hikes interest rates by 25 bps
• (UPDATE) PSE to extend trading by two hours in 2009
• Mining investments reach over $200 million in Q2
• Oil rises for fourth day to above $119 on storm fears
• Bread prices to increase as local millers hike flour price
• (UPDATE) Oil nears $119, euro rallies on ECB talk
• ASEAN concludes Australia, New Zealand free trade pact
• (UPDATE) Shares close 0.3 percent higher
• Asian bond spreads stay flat ahead of new issuance
• Asian units mostly firmer, Thai baht hurt by politics
• August inflation seen at 11.8-12.6%
• Euro rises further in Asia
• ASEAN, China aim to finalize investment pact
• ASEAN concludes free trade deal with India -- ministers
• Dollar slips against euro, oil
• US, Europe, Japan planned dollar rescue -- Nikkei
• Enforcement of child labor laws weak -- US study
• Gov’t paid P406.8B in debts in first 7 months