24
May
09:49
Oriental Peninsula turns losses to profits
Oriental Peninsula Resources Group in the Philippines realised a net profit of PHP 70.2 million ($1.46m) last year, compared with a net loss of PHP 375.1m in 2019, Kallanish notes from its annual report for fiscal year 2020 ending on 31 December 2020.
Annual gross revenue was PHP 1.35 billion, up 273% year-on-year. Meanwhile, the company’s gross profit margin reached 40%.
In 2021 and 2022, the firm plans to produce 2.3 wet million tonnes and 1.9wmt of nickl…
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