Philex
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Dog saves 2 boys from fire in Benguet

May 19, 2017 - 6:34 PM

Miztah the family pet wakes up brothers Wilbur and Kurt as a fire strikes their home

HERO DOG. Lander, Wilbur, and Kurt with their pet and hero dog, Miztah. Photo by Mauricio Victa/Rappler

Philex Mining suspends Silangan mine project

Apr 30, 2017 - 11:40 PM

This comes after Environment Secretary Gina Lopez banned the open pit method of mining for copper gold silver and complex ores in the Philippines

PHILEX'S FUTURE. Tagged as Philex's next key revenue generator once its Padcal mine closes in 2022, the Silangan mine in Surigao del Norte province has estimated reserves of 5 billion pounds of copper and 9 million ounces of gold in its 25-year mine life. Image from official website of Philex Mining

PCCI: Investors may dump PH over cancelled mining agreements

Feb 15, 2017 - 11:16 PM

How can a company risk stockholders money in projects if the investment rules are unclear and uncertain? says the president of the Philippine Chamber of Commerce and Industry

Environment and Natural Resources Secretary Regina Paz Lopez, in a press briefing in Malacañang on February 9, 2017, said their agency is gearing towards the establishment of ‘E3 zone’ or the ecological, economical and educational programs in areas where mining firms will be closed. Malacañang Photo

Lopez tells big mining firms to improve community dev’t programs

Dec 30, 2016 - 10:00 AM

Environment Secretary Gina Lopez says she wants the DENR mining firms and the host community to jointly manage the Social Development and Management Program fund

Weakening peso 'positive' for Philex Mining, PLDT

Nov 25, 2016 - 1:26 PM

While the weaker peso means higher debt servicing for the government it is positive for some firms whose revenues are denominated in US dollars

A BOON. Of all his businesses, Manuel V Pangilinan says Philex Mining is the "main beneficiary" of the depreciating peso. Rappler file photo

MVP on Reed Bank exploration: 'Absolutely no movement'

Nov 21, 2016 - 8:00 AM

Meanwhile a congressman is worried about energy security and says it is high time to allow the resumption of the stalled projects

NO MOVEMENT. After the Philippines' win against China over the West Philippine Sea, Pangilinan-led PXP Energy awaits government's cue on Reed Bank exploration. Photo by Alecs Ongcal/Rappler

Ongpin hits SolGen for new evidence on insider trading case

Sep 01, 2016 - 7:30 PM

It shows that their evidence in the first place were lacking and did not warrant certainly imposing a fine on Mr Ongpin of P174 million the businessman s lawyer argues

BATTLE LINES. SEC is working with OSG to 'strongly oppose' Ongpin's petition to stop them from imposing fines and penalties against him involving insider trading of Philex Mining Corporation shares back in 2009. Photo by Chrisee Dela Paz/Rappler

CA stops SEC order on Ongpin's insider trading case

Aug 02, 2016 - 1:40 PM

In issuing the TRO the Court of Appeals says the complex issues and circumstances surrounding the case present an urgent and paramount necessity to prevent serious damage on businessman Roberto Ongpin

CONTROVERSIAL. Businessman Roberto "Bobby" Ongpin is being accused of insider trading of Philex Mining shares in 2009. Photo by Agence France-Presse

Ongpin vows to appeal SEC ruling, slams 'cruel' penalties

Jul 24, 2016 - 11:55 PM

I thought that the persecution under the Aquino administration had ended but apparently the remaining minions of the past administration are still determined to get me says Roberto Ongpin

CONTROVERSIAL. Businessman Roberto "Bobby" Ongpin is being accused of insider trading of Philex Mining shares in 2009. Photo by Agence France-Presse

Ongpin barred from listed firms, fined P174M for insider trading

Jul 22, 2016 - 7:27 PM

The Securities and Exchange Commission also orders Roberto Ongpin to resign from all listed companies he is holding positions – which include PhilWeb and Atok Big Wedge

CONTROVERSIAL. Businessman Roberto "Bobby" Ongpin is being accused of insider trading of Philex Mining shares in 2009. Photo by Agence France-Presse

Reed Bank exploration: Philex Petroleum may seek new foreign partner

Jul 14, 2016 - 3:52 PM

After the Philippines win against China over the West Philippine Sea Philex Petroleum awaits government s cue on Reed Bank exploration

NEW PARTNER? Philex Petroleum chief Pangilinan hints his company might look for new foreign partner/s for Reed Bank exploration. Photo by Alecs Ongcal/Rappler

Philex, Silangan Mining to Gina Lopez: We are ISO-compliant

Jul 06, 2016 - 7:00 PM

This is in response to DENR chief Gina Lopez s call to suspend mining firms that are not ISO compliant

COMPLY OR FACE SUSPENSION. The new DENR chief says ISO14001 certification is responsible mining. File photo by EPA/MWD Daily News

Investors in mining panic over Gina Lopez appointment

Jun 22, 2016 - 6:23 PM

Stock analysts say investor jitters seen to continue until Lopez presents her mining policies

INVESTOR JITTERS. Gina Lopez's appointment as DENR head spooks the mining sector. Philippine Stock Exchange file photo

Philex clears hurdle in Silangan mine in Mindanao

May 17, 2016 - 6:11 PM

The Silangan project is seen to start production in 2018 and become a key revenue generator for Philex after its Padcal mine closes in 2022

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo from Philex

Philex explores prospects outside disputed Reed Bank

Mar 07, 2016 - 6:36 PM

This is after the Philippine government in March 2015 suspended all exploration works at the Reed Bank in the South China Sea

EXPLORATION. Oil and gas reserves in Reed Bank are said to be larger than those in Malampaya, which accounts for 40% electricity requirement of Luzon

Philex ends 2015 with higher income despite lower metal prices

Feb 25, 2016 - 5:30 PM

However its metal gold and copper businesses in 2015 recorded lowest revenues over the last 5 years

CUSHIONING IMPACT. With pressure on metal prices, Philex Mining continues to manage costs and reduce expenses. Background image from Wikimedia

More IPOs before 2015 ends – PSE

Nov 26, 2015 - 2:16 PM

It has been a year of highs and lows for the local bourse which started the year in record breaking fashion before global instability pulled the index back

More than 400 Philex workers opt for voluntary retirement

Apr 07, 2015 - 7:39 PM

They account for 20 of the present workforce of Philex Mining which projects that its Padcal mines may last for only 5 years more

RETIREMENT PACKAGE. Philex Mining has offered a retirement program for employees nearing 50 years old in preparation for the time Padcal mines has to be closed. Photo from the Philex website

Philex eyes Padcal extension with add'l minerals found

Mar 20, 2015 - 8:26 PM

The Manuel V Pangilinan led firm says it found an additional 110 9 million tons of mineral resources – a find that could extend the mine’s life beyond 2020

Billions of pesos in Church funds locked in stocks

Jan 11, 2015 - 7:30 AM

UPDATED The Church has investments in banking oil energy information technology food and beverages construction and mining

PH mining firms sign industry scorecard

Oct 13, 2014 - 11:53 AM

Top mining companies agree to a new monitoring program to check their environmental footprint while doing business

Gov’t lifts suspension on Philex’s Padcal mine

Aug 28, 2014 - 3:00 PM

The mining company has ‘substantially addressed’ the adverse impacts of the disastrous spill of mining sediments in Benguet in August 2012 says the Mines and Geosciences Bureau

REHAB MEASURES. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo from Philex

Philippines slams China over 'sovereignty patrols'

Aug 18, 2014 - 4:38 PM

The Philippines says China regularly sends ships as part of illegitimate sovereign patrols to claim the disputed West Philippine Sea

DAVID VS GOLIATH. A Chinese coast guard ship (top) and a Philippine supply boat engage in a standoff as the Philippine boat attempts to reach Ayungin Shoal, a reef claimed by both countries, on March 29, 2014. Photo by Jay Directo/AFP

Aquino hits China over 2 ships in Recto Bank

Aug 18, 2014 - 1:27 AM

China s hydrographic ships have been sighted within the Philippines exclusive economic zone President Aquino says he fears heightened tension between the 2 countries in the South China Sea

FEARING TENSION. President Benigno Aquino III says the Armed Forces of the Philippines spotted two Chinese hydrographic ships in the disputed South China Sea. In this photo taken on August 14, 2014, Aquino leads the ceremonial distribution of assault rifles at the Armed Forces of the Philippines General Headquarters. Photo by Robert Viñas/ Malacañang Photo Bureau

Philex earmarks P4B for big-ticket projects

Jun 26, 2014 - 8:28 AM

The listed mining company is still waiting for clearance to fully operate the Padcal copper gold mine in Benguet

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo from Philex

Philex says Padcal cleared for full operations by PAB

Jun 18, 2014 - 4:33 PM

The Pollution Adjudication Board lifts the cease and desist order it issued on Philex after the mining company fulfilled its obligations

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo from Philex

Philex pays P189-M fine over 2012 Padcal mine spill

Jun 06, 2014 - 10:57 PM

The penalty has been imposed for the listed company s violation of the Clean Water Act during the period August 2012 to February 2014

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo from Philex

Philex posts 33.7% drop in Q1 net income

May 01, 2014 - 12:40 PM

Philex posts a 110 increase in its core net income in the first quarter of 2014 over last year but reports a drop in net income for the period

Water, power businesses lift Metro Pacific's 2013 earnings

Mar 19, 2014 - 5:39 PM

Metro Pacific units Maynilad and Meralco perform strongly

STAYING STRONG. Infra conglomerate MPIC says all its business units performed well in 2013. Photo taken from MPIC website

Philex to resume full Padcal operations soon?

Mar 03, 2014 - 6:17 PM

Philex completes the rehab and cleanup works required so it could fully operate its Padcal mine in Benguet

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

Philex eyes extension of Padcal mine life

Feb 24, 2014 - 7:38 AM

The company is exploring for viable deposits around its Padcal copper gold mine in Benguet in a bid to extend the mine s lifespan beyond 2020

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

Lower metal prices weigh on Philex profit

Nov 06, 2013 - 12:34 PM

The country s largest listed mining firm suffers a 29 decline in net income in the first 9 months of 2013

PROFITS DOWN. Philex net income for Jan-Sept was weighed down by lower metal prices. This photo shows a member of the firm's staff checking the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

Philex shelves P13.8-B rights offer

Oct 08, 2013 - 4:32 PM

Philex Mining cancels its planned stock rights offering citing unfavorable market conditions

COSTLY REHAB. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

MVP-led Philex to shut down coal mine

Sep 02, 2013 - 11:29 AM

Six months after declaring a suspension the Philex unit proceeds with closure of coal mining operations

Currency woes widen Philex Petroleum losses in H1

Jul 26, 2013 - 1:10 PM

The net losses of upstream oil and gas company Philex Petroleum Corp widens to P225 2 million in the first 6 months of 2013 from P80 5 million a year ago

MORE LOSSES. The oil and gas company led by Manuel V. Pangilinan incurred more losses in the first 6 months of 2013 due to forex woes

Death of Philex employee in mine shaft still a puzzle

Jul 23, 2013 - 10:05 PM

The mining company is awaiting results of an investigation into the death of Rodolfo Bayaoa Corsino 49 a member of its logistics crew in Itogon Benguet

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

Philex unit completes P2.1-B sale of Vietnam firm

Jul 17, 2013 - 4:29 PM

The sale generated P200 million profits which the Philex group intends to use to fund exploration activities and acquire new oil and gas exploration assets

Pollution board allows Philex to continue operations

Jul 09, 2013 - 6:39 PM

The state pollution board allows Philex Mining to continue with its remediation measures for the damaged tailings facility in its Padcal gold and copper mine

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

Govt allows Philex to continue operations

Jul 05, 2013 - 6:54 PM

UPDATED The country s biggest gold producer is allowed to continue temporary operations in Benguet mountain province while regulators review rehabilitation plans for mine s damaged tailing dam

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

SSS hopeful govt will lift Philex mine suspension

Jul 01, 2013 - 5:12 PM

The state pension fund owns P18 B worth of shares in the mining firm

7 PH firms among ‘investor favorites’ in SE Asia

Jun 28, 2013 - 2:45 AM

SMIC Ayala Corp San Miguel are among the 8 Philippine firms that global investors consider their favorites according to a poll

Philex asks govt to lift suspension order on Padcal

Jun 26, 2013 - 7:04 PM

The company filed a petition for the lifting of the suspension on June 21

BAN LIFT Philex said it has asked the government to lift suspension order on its Padcal mine site. Photo by Aya Lowe/Rappler

Philex, Meralco eye power project in Surigao del Norte

Jun 26, 2013 - 1:31 PM

Philex is in talks with Meralco for the possibility of putting up an 8 megawatt coal fired plant in Surigao del Norte

MORE POWER Meralco and Philex may put up a new power plant in Surigao del Norte. Photo by Aya Lowe/Rappler

MVP, San Miguel in wait and see mode on Tampakan

Jun 17, 2013 - 10:02 AM

Two of the country s biggest conglomerates are in a wait and see mode on their minority stakes in Tampakan mine in Mindanao following the ownership changes at the stalled gold and copper mine project

MINING OPERATIONS. It took over a year for the government to grant the operator of the Tampakan mine in Mindanao its environmental clearance. Photo shows a visualization of the Tampakan mining site by Parsons Brinckerhoff for Swiss miner Xstrata

Philex wants more time to rehabilitate tailings pond

Jun 16, 2013 - 7:05 PM

The miner wants to operate its Padcal mine beyond the 4 month period earlier approved by government

MINE SPILL. A Philex Mining staff checks the penstock at the tailing pond of the Padcal mine in Benguet. Photo provided by Philex

Finish clean up of mine wastes, Philex told

May 23, 2013 - 5:04 PM

The state pollution body requires total clean up of the mine tailings that spilled into affected waterways before it will allow Philex to operate its copper gold mine again

CLEAN UP. The state pollution body requires Philex to complete the clean up of mine waste residues in the two rivers affected by the tailings spill before normal operations can re-start. Photo courtesy of Philex

Soldier killed by NPA in Negros Oriental

May 13, 2013 - 4:24 PM

The troops were attacked by an guerrillas suspected of having killed five soldiers and destroying properties belonging to Philex Mining Corporation

Why allow Philex to be beaten up?

May 13, 2013 - 5:05 AM

Phiex Mining stockholders worried about Philex s reputation following Padcal mine spill in August

MVP responds to stockholders questions about Padcal spill. Photo by Aya Lowe/Rappler

5 soldiers killed, 2 injured in NPA encounter in Negros

May 04, 2013 - 3:44 PM

The encounter happens after troops conduct clearing operations that follow an alleged NPA attack on the Philex Mining site

Philex Q1 earnings down 68% due to Padcal closure

Apr 30, 2013 - 8:28 PM

Philex s Padcal mine was ordered closed in August 2012 due to a waste leak

LOW PROFIT. Philex Mining Corp. generated anemic growth in profit due to the suspension of its Padcal mine in Benguet. Photo by Philex