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SCC Anticipates Higher Net Income

Semirara Mining Corp. (SCC) is anticipating its consolidated net income to double in the first quarter to Php2 billion, compared to the Php1 billion in the first quarter of 2013.

According to Semirara Vice-President and Chief Finance Officer Junalina S. Tabor, the growth drivers would primarily be from the coal business since the company has resumed mining operations, producing higher volume and reduced costs.

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DMCI Holdings Acquires Mining Company

DMCI Holdings, Inc. has recently acquired a 40% stake of D&A Income Ltd. in ENK Plc., a London-based company which has interests in nickel mining projects in the country, for a purchase price of GBP42.03 million.

This transaction will effectively bring DMCI’s total stake to 100%. Currently, ENK Plc. has two adjacent nickel-cobalt project in Zambales.

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Puregold To Merge With Company E

The local equities market ended marginally higher on last-minute buying of heavy-weight stocks. The PSEi marginally rose by 12.16 points, or +0.19%, to close at 6,348.50.

Before the end-of-day push, the index was trading in the negative territory as market players were being cautious ahead of the Monetary Board meeting.

Screen Shot 2013 10 22 at 5.40.44 AM Puregold To Merge With Company E Read the rest of this entry »

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