Nickel Asia earnings soar 312% amid upswing in metal prices
Nickel Asia Corp. reported a net income of P6.27 billion in 2025, soaring by 312 percent from a year ago, driven by strong export prices and higher sales.
The listed mining company disclosed on Thursday that revenues from saprolite and limonite ore had climbed by 39 percent to P27.25 billion.
Cash flow as measured by earnings before interest, taxes, depreciation and amortization amounted to P13.75 billion, rising by 56 percent.
The company benefited from higher saprolite ore export prices throughout 2025. Weighted average ore price increased by 28 percent to $25.66 per wet metric ton (WMT), although the average exchange rate slightly decreased to P57.22 per US dollar.
Operating mines registered a 9-percent increase in nickel ore sales, ending at 18.56 million WMT.
Saprolite and limonite ore exports totaled 10.93 million WMT at an average price of $36.14 per WMT. Ore exports rose by 13 percent in ore exports, while selling price surged 32 percent.
Limonite ore shipments to Coral Bay and Taganito High Pressure Acid Leach plants totaled 7.64 million WMT, down 3.4 percent. However, these were sold at $6.86 per pound, up 11.5 percent.
“Our significant income growth this year reflects our ability to capitalize on market highs while strengthening our position as a reliable global supplier,” Nickel Asia president and CEO Martin Antonio Zamora said.
“We are now accelerating our transition into a multi-resource company, fueled by the continuous scaling of our renewable energy arm and new prospects in gold and copper,” added Zamora.
Meanwhile, Emerging Power, Inc., the company’s renewable energy arm, saw its cash flow decline by 16 percent to P788 million due to lower weighted average tariffs caused by a decrease in Wholesale Electricity Spot Market prices.
