MANILA, Philippines - Philex Mining Corp. is seen to gain from the weakening peso in terms of higher earnings. “The main beneficiary is Philex (Mining) because all of its revenues are denominated in dollars,” he said. Philex Mining generates revenues from the sale of gold, copper as well as silver produced from the Padcal mine in Benguet. Pangilinan said every peso decline raises Philex Mining’s pre-tax income to the tune of around P200 million. Philex Mining’s net income for the nine-month period reached P1.33 billion, up 76 percent from P756 million in the previous year.

Source: Philippine Star November 26, 2016 15:55 UTC