Mining industry set for recovery

FOLLOWING a dramatic drop in revenue and exports in 2014-15 Australia’s mining industry is set to recover in the next 12 months. The substantial year-to-year volatility has been driven by increased production of some of Australia’s key resources, which resulted in a global oversupply and a subsequent slump in commodity prices.

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MBMI announces Court decision

MBMI Resources announces that a resolution has been issued by the Special Third Division of the Philippine Supreme Court denying the motion for reconsideration filed by Narra Nickel Mining and Development Corp, McArthur Mining, and Tesoro Mining and Development Corp in GR No 195580.

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ET Solar to build power plant

ET Solar has executed an agreement to build a 70 MWp solar power project in the Philippines, along with local partner Gate Solar Philippines Corp, a renewable energy developer. ET Solar is partnering with Gate Solar to develop, invest, finance, construct, and operate the project.

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Atlas revenue up, income down

Atlas Consolidated Mining and Development Corp grew revenue by 12% to P16.2 billion in 2014, helped by higher revenues from copper, gold, and nickel. However, its consolidated net income declined to P397 million from 1.9 billion, mainly because of the collective effect of lower prices, increased depreciation, higher financing charges, and higher income tax provision in 2014.

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