Nickel Asia Corp. triples net income at ₱6.27B in 2025

Listed miner Nickel Asia Corporation (NAC) tripled its earnings in 2025, as revenues posted double-digit growth on the back of higher saprolite ore export prices throughout the year.

Attributable net income excluding minority interest grew by 312% to P6.27 billion from P1.52 billion in the previous year, while earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 56% to P13.75 billion from P8.79 billion.

This comes as operating mines sold 18.56 million wet metric tons (WMT) of nickel ore in the past year, up by 9% from 17.02 million WMT the previous year. The weighted average ore price for the period grew by 28% to $25.66 per WMT from $20.02 per WMT.

Saprolite and limonite ore exports stood at 10.93 million WMT at an average price of $26.14 per WMT from 9.64 million WMT at $27.34 per WMT in 2024.

“Our significant income growth this year reflects our ability to capitalize on market highs while strengthening our position as a reliable global supplier,” NAC president and chief executive officer 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. This strategic diversification ensures long-term value for our stakeholders and reinforces our commitment as a reliable partner in nation-building,” he added.

NAC’s portfolio includes even operating nickel mines which produce saprolite used for ferronickel and nickel pig iron smelters in Japan and China; and limonite processed by the Coral Bay and Taganito HPAL projects.

Limonite ore delivers reached 7.64 million WMT with an average realized price of $6.86 per pound of payable nickel, equivalent to $10.66 per WMT.

In terms of its gold and copper exploration, NAC – through the Cordillera Exploration Company Inc. (CEXCI) – plans to complete 4,000 meters of drilling aimed at defining mineralization over a 500 by 400 meter area to establish an inferred resource in San Luis. — JMA, GMA Integrated News