StocksMedium•30 October 2026•
1 min read
Philex Mining Net Income Plunges 77% on Foreign Exchange Losses
Key Facts
1Philex Mining reported a 77% drop in net income to P110 million during the first nine months of the year.
2Foreign exchange losses surged to P649 million from P38 million a year earlier due to the restatement of US dollar-denominated loans.
Philex Mining reported a 77% drop in net income to P110 million during the first nine months of the year. The Daily Tribune reported that the decline was primarily driven by the increased cost of servicing and restating debt due to currency weakness.
Foreign exchange losses surged to P649 million from P38 million a year earlier following the restatement of US dollar-denominated loans. These financial losses offset operational gains achieved from high gold and copper prices during the period.