Global Ferronickel Holdings Inc. reported net income of P4.8 billion for the six months ending December last year, higher than a year earlier as it benefited from firmer ore prices due to Indonesia’s export ban.

“The main factor was mainly the Indonesian export ban so the price went up for medium and high-grade ores,” Dante R. Bravo, Global Ferronickel executive vice president and corporate secretary, told The Manila Times in a text message.

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