SHANGHAI, Nov. 8 (SMM) - Nickel Asia Corp. (NAC) reported a 60 percent drop in its attributable net income in the first nine months of 2016, according to the company’s report.
The plunge, from P2.49 billion to to P980 million, was due mainly to slump in ore prices and lower volume of sales, the company said
NAC sold an aggregate 15.2 million wet metric tons (WMT) of nickel ore in the first nine months of 2016, less than 16 million WMT in the same period last year.
Gerard Brimo, NAC president and chief executive officer, expressed hope nickel prices will improve in the next months.
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