MANILA, Philippines – The peso exchange rate stands at P43.88 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.91.

PHILEX REPORTS HIGHER OUTPUT, SHIPMENT VALUE

Philex Mining Corporation, the country’s largest gold producer, reported that both production and shipment value of gold and copper ore jumped in the first 11 months of the year on bigger output, higher ore grades and rising metal prices. Based on the firm’s disclosures to the Philippine Stock Exchange, the estimated value of ore produced by Philex from its Padcal mine rose 35 percent to P11.75 billion from P8.7 billion in the first 11 months of 2010. Output for the first 11 months of 2010 is up by 13.6 percent at 8.53 million dry metric tons from 7.5 million DMT in the same period last year. “Barring unforeseen circumstances, we are confident that we will be able to keep the production level that we have achieved up to the end of the year,” said Philex president and chief operating officer Jose Ernesto C. Villaluna, Jr. who added that “we may continue to see good if not better ore grades as well.” On the other hand, the estimated value of gold and copper concentrates shipped from January to November this year tose 23 percent to P10.57 billion from P8.6 billion in the same period in 2009 even though 12 shipments were made last year compared to only 11 in 2010. Villaluna said that, in November 2010, the firm produced 14,055 ounces of gold, 3.24 million pounds of copper and 13,115 ounces of silver.(JAL)

G.M.A. KEEPS LEAD LUZON, MEGA-MANILA RATINGS LEAD

GMA Network reported that it kept its strong grip of the TV ratings lead in viewer-rich Luzon and the highly-coveted Mega Manila area in November, this despite program changes made by competition backed up by aggressive promotion last month. Based on people data (November 28-30 based on overnight ratings) from ratings service Nielsen TV Audience Measurement, GMA scored 35.4 percent in audience share in Mega Manila, up by a huge 8.0 percentage points over ABS-CBN Corporation’s 27.4 percent. Mega Manila comprises 55 percent of the total urban TV household population in the country. Including specials, 17 out of the overall top 30 programs in November were from GMA with six Kapuso shows making it to the top 10. The boxing bout between pound for pound king Manny Pacquiao and Antonio Margarito topped all programs for the month. The station’s banner newscast 24 Oras; Ilumina; Survivor Philippines Celebrity Showdown; Grazilda; and weekend primetime Public Affairs show Kapuso Mo Jessica Soho all made it to the top 10. GMA also kept its lead in TV ratings in Urban Luzon, which makes up for a huge 77 percent of the total television households nationwide. GMA posted an average total day audience share of 33.6 percent, up by 3.8 percentage points against ABS-CBN’s 29.8 percent. (JAL)