Redstone Construction and Development Corporation (RCDC)
Redstone Construction and Development Corporation (RCDC) is an 80% subsidiary of PHA primarily engaged in contract mining and construction works for mining, real estate development, environmental protection & remediation, dam, dikes, flood control and reclamation including quarrying, hauling, earthmoving works and heavy equipment rentals. RCDC has been engaged in contract mining projects by Marcventures Mining & Development Corp., Rio Tuba Nickel Mining Corp. and Cagdianao Mining Corp. (the last two are both subsidiaries of Nickel Asia Corp). It recently passed Nickel Asia’s stringent accreditation process.
In 2014, RCDC mined a total of 767,412 wet metric tons (WMT), equivalent to gross revenues of Php147M, an 84% increase compared to 2013’s Php80M revenues. For both 2013 and 2014, RCDC’s gross profit margin is 33%. Net income after tax in 2014 is Php20.5M, a 70% increase compared to 2013. In 2014, RCDC’s asset size grew by 88% to Php191.2M primarily due to the acquisition of additional trucks and equipment.
In 2015, RCDC obtained three-year contracts to service Marcventures Mining & Development Corp., Cagdianao Mining Corp., and BenguetCorp Nickel Mines Inc. totaling an annual tonnage of 4.5 million WMT at full capacity, equivalent to annual revenues of around Php450 million.
With RCDC’s recent CAPEX program, its fleet will be comprised of 100 dump trucks and 44 various heavy equipment.