Nickel Asia Corporation (PSE: NIKL, RIC: NIKL.PS, BBG: NIKL.PM) reports 12% increase in sales volume for the nine-month period ended September 30, 2015 on a year-on-year basis, but that peso revenue slumped by as much as 40% for that same period YOY. We’ve seen soft metal prices, particularly LME Nickel price and nickel ore prices, in the last year or so, thus a huge drop in NIKL’s and similar mining companies’ revenue.
I’m attaching the press release in full below, but the main points can be summarized in the graphs that follow:
Advocates of anti-mining movements assert that host communities do not profit from mining activities in their area. That is not especially true in the case of Rio Tuba Nickel Mining Corp. and Taganito Mining Corp. (both are subsidiaries of Nickel Asia Corporation), and other “responsible” mining companies in the country.
Below are the ads aired in various local TV stations in the country: