Company Profile

  • Established on August 12, 1903, is the first and oldest mining company in the Philippines.
  • Carries an impressive portfolio of expanding gold and nickel mining operations across the country using implementing global best practices and cutting-edge technology.
  • Upholds its commitment to be a socially-responsible company by implementing environmental and social development programs that protect and improve

Our Company

Benguet Corporation (the “Company”, “Benguet”) is the oldest mining company in the Philippines and is the country’s recognized pioneer of modern mining. Established on August 12, 1903 as Benguet Consolidated Mining Company, the Company’s 112 years of existence is a testament of its adaptability and resiliency in the face of changes brought about by global events, natural calamities, economic conditions and industry trends.

Benguet was reorganized and registered with the Securities and Exchange Commission (SEC) on June 18, 1956 under the name Benguet Consolidated, Inc. Benguet is now on its third fifty-year corporate life, the extension having been approved by the SEC on June 18, 2006. Having been listed in the Philippine Stock Exchange since January 4, 1950, it is one of the most widely held public companies in the country with 16,897 stockholders of record, with 16.55% of its outstanding shares owned by foreign nationals and institutions, as of December 31, 2015.

In the 1980’s, following its name change to the now “Benguet Corporation”, the Company’s stature peaked as it simultaneously operated its five major mines: Benguet Gold Operations (BGO), Benguet Antamok Gold Operation (BAGO), Dizon Copper-Gold Operation (DCO), Masinloc Chromite Operation (MCO), and Paracale Gold Operation (PGO).

In the 1990s, as the Philippine mining industry went through a difficult period, the Company likewise suffered a decline. Its operations were gravely affected by natural calamities such as the Baguio earthquake in 1990 and the Mount Pinatubo eruption in 1991, countless typhoons, and other external factors such as low metal prices and the 1997 Asian currency and economic crisis. All these led to the suspension of operations of the Company’s BGO in 1992, PGO in 1993, BAGO in 1998; and the Company’s decision to sell its remaining interest in DCO in 1997. The Company also turned over MCO to the claim owner in July 2007 due to the expiration of the operating contract.

In 2003, it reopened BGO on a limited scale through the Acupan Contract Mining Project (ACMP) now renamed as the Acupan Gold Project (AGP), developed Sta. Cruz Nickel Project (SCNP) in 2007, and continued to review and package its various mineral properties for future development or sale. It invested in the development of the Balatoc Tailings, and Surigao Coal projects, and the expansion of AGP. It continued to hold interest in the Acupan Gold, Ampucao Gold Copper, Pantingan Gold, Benguet Oreline Contract Operation (BOLCO), and the Ilocos Norte and the Kalinga Financial or Technical Assistance Agreement (FTAA) prospects. It likewise resolved a long standing issue with the claimowner of the Kingking Project in 2010.

Aside from mining and mineral exploration, the Company ventured into various projects through several wholly owned subsidiaries. It is engaged in healthcare and diagnostics services through its expanding BenguetCorp Laboratories, Inc., mining logistics through Arrow Freight Corporation, trading of industrial equipment and supplies through Benguetrade, Inc., port services through Keystone Port Logistics and Management Services Corporation, shipping services through Calhorr 1 Marine Services Corporation and Calhorr 2 Marine Services, Inc., and real estate development and lime kiln operation through BMC Forestry Corporation.

Mission

Benguet Corporation aims to be a responsible profitable and growth oriented conglomerate engage in natural resource development. In furtherance of this mission,

Management is committed to:

  • Maximize share prices and profitability through growth in earnings and in tangible asset value;
  • Be a socially responsible and environment-conscious corporate citizen adhering to the highest ethical business standards;
  • Create high value-added and portfolio-stabilizing business opportunities preferably in natural resource-based endeavors through strong exploration, research and development programs;
  • Achieve competitiveness and excellence as a natural resource company through the enhanced productivity of its people and through the improvement in the quality of life of its employees and their families, and its host communities.

Vision

Benguet Corporation shall be the leading Philippine conglomerate engaged in sustainable natural resource development and nurturing mutually beneficial relationships with its shareholders, employees, communities, and environment and the nation.

Values

Benguet Corporation’s basic manpower management objective is to develop exceptionally-motivated employees who will achieve exceptional results for the collective benefit of the employees themselves, the shareholders of the corporation, the community in which the corporation operates, and the nation which provides the resources without which the corporation would be unable to function. In order to achieve this basic objective, the corporation commits itself unequivocally:

  • To the underlying ethic that exceptional results are only achievable through exceptional efforts;
  • To reinforce this ethic by requiring all officers and senior managers to set a personal example of hard work and professional integrity;
  • To achieve exceptional growth and profitability in order to create exceptional opportunities for individual advancement;
  • To hire employees best suited to the jobs they will occupy and to train exceptionally talented individuals for leadership positions at all levels;
  • To adhere to a merit system which measures individual performance objectively and with regular frequency;
  • To help improve the performance of substandard or mediocre performers constantly at all levels of the organization, and failing this, to replace them with other more capable;
  • To provide a working atmosphere which respects the rights of every individual, promotes safe working conditions and is conducive to accomplishing the work required;
  • To encourage honest and open two-way communications at all levels of the corporate organization;
  • To discourage resistance to change and constantly challenge the validity of the status quo in any aspect of the company’s activities;
  • To develop an esprit de corps which engenders a sense of pride in every employee that he is working for a progressive, profitable and responsible enterprise which makes an important contribution to the development of the nation.

Benguet Management Corporation

Benguet Management Corporation is a wholly owned subsidiary of Benguet Corporation engaged in non-mining businesses.
Arrow Freight Corporation

Founded in 1962, Arrow Freight Corporation (AFC) is a wholly owned subsidiary of Benguet Management Corporation. AFC is Benguet Corp’s logistics arm that provides mining, earthmoving, road construction and maintenance, and hauling equipment services. Currently, AFC is the general contractor of Benguet Corp Nickel Mines, Inc.  in Sta. Cruz , Zambales, where it has deployed about 450 units of various equipment:  excavators, bulldozers, graders, compactors, loaders, water trucks, and dump trucks.

Arrow Freight Corporation

Benguetrade, Inc. (BTI) is a wholly-owned subsidiary of Benguet Management Corporation.  BTI is engaged in the trading of equipment, materials and supplies for mining companies and other industries as well.

BMC Forestry Corporation

BMC Forestry Corporation, a wholly owned subsidiary of BMC, manages the Irisan LimeOperations, which is designed to produce 60 metric tons of burnt lime daily through its three vertical kilns. It also continues to develop the Woodspark Rosario Subdivision Project in La Union.

BenguetCorp Laboratories, Inc.

Benguet Laboratories is a healthcare provider of BenguetCorp for 87 years.  In 2012, the Company spun off the business and created a wholly owned subsidiary, BenguetCorp Laboratories, Inc. (BCLI).  BCLI currently operates three full-fledged tertiary multi-specialty facilities:  two clinics in Baguio City under the trade name Benguet Laboratories and the new MedCentral, which was opened in December 2012 in San Fernando, Pampanga. An expansion and roll out program is being planned, starting with four additional primary care facilities within the Luzon corridor, including one in Metro Manila in 2013.