FNI Shipments Declined 13.1% To 4.887 Million Wet Tonnes in 2021

On March 28, 2022, Global Nickel Iron Holdings (FNI) said revenue rose to 7.71 billion pesos. FNI's net income rose 5.9 percent to 1.98 billion pesos in 2021 due to higher nickel prices.

Dante Bravo, PRESIDENT of FNI, said, "2021 was a bumper year for FNI as we received the President's Environmental Award for the Mining Industry. This is the highest honor awarded to a responsible mining company by the Ministry of Environment and Natural Resources. We are also pleased with the continued surge in nickel prices, despite the relatively adverse weather conditions experienced throughout the mining season last year, which enabled us to grow our revenues and profits."

Despite the positive financial figures, FNI noted that adverse weather led to a decline in shipments in 2021, with 90 nickel ore vessels shipping a total of 4.887 million wet tonnes compared to 103 vessels shipping a total of 5.625 million wet tonnes in 2020.