Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  DMCI Holdings Inc.    DMC   PHY2088F1004

DMCI HOLDINGS INC.

(DMC)
  Report  
SummaryNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Philippine regulator recommends lifting suspension on nickel miner

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/11/2019 | 02:03am EDT
FILE PHOTO: A view of nickel-ore mine SR Metals in Tubay, southern Philippines

MANILA (Reuters) - The Philippines' mining watchdog has recommended lifting the suspension of a small-sized nickel miner, one of several ore producers ordered in 2016 to halt operations in an industry-wide crackdown, a senior government official said on Wednesday.

The Mines and Geosciences Bureau (MGB) recommended that Zambales Diversified Metals Corp - one of two nickel subsidiaries of DMCI Mining Corp - be allowed to resume mining operations, Environment Undersecretary Analiza Teh said.

The Department of Environment and Natural Resources (DENR) lifted the suspension order on DMCI Mining's other nickel subsidiary, Berong Nickel Corp, in November last year.

The Philippines was the world's second-largest producer of nickel ore in 2018, selling most of its output to top buyer China. In 2020, when last year's top producer Indonesia is due to ban its ore exports, China is expected to rely mainly on nickel ore from the Philippines, according to analysts.

DMCI Mining, a unit of DMCI Holdings Inc , had said in March that it expected 2019 to be a tough year, with one of its two mines still suspended and its inventory almost depleted.

The Berong and Zambales mines, two of more than 30 nickel ore producers in the Philippines, in recent years accounted for less than 5% of the nation's output of the material, which is used in stainless steel and electric vehicle batteries.

Teh said the DENR has also lifted the suspension order against Carrascal Nickel Corp, but five other suspended mines - mostly nickel ore producers - have yet to comply fully with the requirements that would allow them to operate.

Teh, speaking at a Philippine mining conference, said the MGB has also recommended lifting a suspension order issued against iron ore miner Strong Built Mining Development Corp.

Philippine nickel ore production rose 3% in the first half of 2019, but output was capped as half of the country's nickel mines were closed for maintenance or environmental reasons.

In 2016, the DENR, then headed by a staunch anti-mining advocate, ordered several mines shut in a crackdown on miners as part of a push to ramp up environmental protection.

(Reporting by Enrico dela Cruz; Editing by Tom Hogue)

Stocks mentioned in the article
ChangeLast1st jan.
DMCI HOLDINGS INC. End-of-day quote.
GOLD -0.27% 1493.76 Delayed Quote.17.46%
LME NICKEL CASH -2.95% 17295 End-of-day quote.65.66%
NICKEL MINES LTD 0.00% 0.73 End-of-day quote.175.47%
SILVER -0.31% 17.773 Delayed Quote.14.84%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DMCI HOLDINGS INC.
09/11Philippine regulator recommends lifting suspension on nickel miner
RE
08/27DMCI : Mining ships 41% more nickel ore in H1
AQ
08/22DMCI : Power sales surge 19% in H1
AQ
08/22PRESS RELEASE : DMCI Power sales volume up 19% in H1
PU
08/18PRESS RELEASE : DMCI Homes expects sales boost from QC projects
PU
08/16DMCI : books 22% income drop in H1
AQ
08/13PRESS RELEASE : DMCI Holdings books P6.7b in H1
PU
07/04DMCI : Public Ownership Report as of June 30 2019
PU
06/08DMCI : Homes land bank reaches P10.2 billion in Q1
AQ
06/08DMCI : Homes continues 'land bank' expansion
AQ
More news
Financials (PHP)
Sales 2019 82 802 M
EBIT 2019 18 422 M
Net income 2019 13 835 M
Debt 2019 18 682 M
Yield 2019 5,44%
P/E ratio 2019 8,74x
P/E ratio 2020 7,43x
EV / Sales2019 1,69x
EV / Sales2020 1,35x
Capitalization 121 B
Chart DMCI HOLDINGS INC.
Duration : Period :
DMCI Holdings Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 11,92  PHP
Last Close Price 9,12  PHP
Spread / Highest target 53,5%
Spread / Average Target 30,7%
Spread / Lowest Target 13,9%
EPS Revisions
Managers
NameTitle
Isidro Almeda Consunji Chairman, President & Chief Executive Officer
Herbert M. Consunji CFO, Executive Director & Chief Compliance Officer
Cesar A. Buenaventura Vice Chairman
Jorge A. Consunji Non-Executive Director
Maria Edwina C. Laperal Treasurer & Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
DMCI HOLDINGS INC.2 315
HONEYWELL INTERNATIONAL25.80%120 669
3M COMPANY-10.95%98 626
SIEMENS AG-0.70%84 857
GENERAL ELECTRIC COMPANY23.91%81 511
ILLINOIS TOOL WORKS23.76%51 682