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)
