Benguet receives cash dividends from nickel unit
Benguetcorp Nickel Mines Inc. (BNMI), Benguet’s nickel subsidiary, on Wednesday paid cash dividends of P32 per share to its parent firm.
In 2010, BNMI reported net earnings of P101 million from direct exportation of high-grade nickel ore in Sta. Cruz, Zambales.
Consistent with its medium-term plan to transform the company from a direct ore exporter into processed nickel producer, BNMI is currently studying different processes using low-grade nickel to produce a higher value material for export.
BNMI has signed a cooperation agreement with a 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 employment and 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.
