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JORLAN BRYAN GAPASIN EARTH SCIENCE 11-CAIRO STEM B

BENGUET CORP
Location:

1 Corporate Plaza 845 Arnaiz Avenue Legaspi Village,


Makati City Metro Manila 1223 Philippines

HISTORY:

1903: Benguet Gold Mines is founded to exploit gold


claims in the Philippines.

1906: The company begins mining and milling operations


in Antamok, Itogon, and changes its name to Benguet Consolidated Mining Inc.

1927: Two more gold mines are acquired.

1934: Benguet launches chromite mining operation in Masinloc.

1949: Benguet is listed on the New York Stock Exchange.

1956: The company changes its name to Benguet Consolidated Inc.

1971: Copper mining operations begin.

1980: The company changes its name to Benguet Corporation and forms
Benguet Management Corporation as a holding company for its diversification
into non-mining businesses.

1991: Control of Kingking copper-gold concession is acquired after a lengthy


court battle.

1993: Benguet sells off its headquarters as part of an assets disposal to pay off
debts.

1994: The company forms a Trade division, which becomes Benguetrade


subsidiary in 1997.

1997: Benguet launches a bottled mineral water operation, Agua de Oro, and
enters the eco-tourism segment with Benguet Mines Tourism Village.

2000: The company is delisted from the New York Stock Exchange and transfers
its shares to the over-the-counter market.

2003: Benguet celebrates its 100th anniversary.

Ore Types: Benguet Corp. explores and develops gold, copper and nickel
minerals. It explores for mines, currently produces and markets gold, nickel
laterite ore, and limestone
JORLAN BRYAN GAPASIN EARTH SCIENCE 11-CAIRO STEM B

Annual Production

The Company sells its gold to the Banko Sentral ng Pilipinas. For its nickel ore, the
Company’s wholly owned subsidiary and operator, Benguetcorp Nickel Mines,
Inc. (BNMI) has an off-take contract with Bright Mining & Resource Company
Ltd. for the sale of 1.8 million tons of nickel ore and with LS Networks Co., Ltd., for
the sale of 2.0 million tons of nickel ore. The quicklime products are mainly sold
to local customers.

The Company’s sales/revenue of product/services which contributed ten


percent (10%) or more to sales/revenues for the last three years are as follows:

2016 (% to total 2015 (% to total (% to total revenue)


revenue) revenue)
Local Foreign Total Local Foreign Total Local Foreign Total
Gold 35% - 35% 21% - 21% 27% - 27%
Lime 5% - 5% 2% - 2% 3% - 3%
Nickel - 53% 53% - 73% 73% - 66% 66%
Trucking & 7% - 7% 4% - 4% 4% - 3%
Wire-
housing &
others

ENVIRONMENTAL AND REHABILITATION

 Green Mine Rehabilitation - Benguet Corp. has proposed to Baguio City


and the municipality of Itogon in Benguet province to undertake the final
rehabilitation of one of its Antamok Open Pits, located in Itogon, with a
project that will involve an Engineered Sanitary Landfill that will also lead
to a Renewable Waste to Energy Project.

References:
http://benguetcorp.com/wp-content/uploads/2014/07/BC-2016-FIRST-QTR-REPORT_SEC-17Q-
03312016.pdf

http://www.fundinguniverse.com/company-histories/benguet-corporation-history/

http://thestandard.com.ph/sunday-lgu-section-pdf/luzon/232229/benguet-corp-sets-green-mine-
rehab.html