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Benguet Snapshot
Benguet Corporation, the Philippines' oldest mining company (dating to 1903), mines and processes gold, chromite, copper, and other minerals. Low prices for metals and minerals led Benguet to diversify in the 1980s into such businesses as bottled water distribution, construction, real estate development, ecotourism, trading, reforestation, and trucking and warehousing. The company operates about 10 mining properties throughout the Philippines. In 2011 the company began an equity restructuring plan to wipe out its negative retained earnings, which is among the final steps the company needs to undergo before completing its corporate restructuring.
