Philex profits plunge on lower mine output

By Brix Lelis

Mar 01, 2024 12:21 am

PANGILINAN-LED Philex Mining Corp. said Thursday its net income last year fell by 44.4 percent to P1.0 billion from P1.8 billion in 2022 on lower gold and copper output from its mines.

Core income also dropped by 44.4 percent, to P963 million from P1.7 billion a year ago, on lower tonnage milled and higher operating expenses, Philex said.

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