Philex Mining Corporation - updates

Rappler's latest stories on Philex Mining Corporation

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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

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 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 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

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

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

It's final: Philex to pay P1-B fine for Padcal spill

Nov 22, 2012 - 11:38 AM

DENR Secretary Ramon Paje says Philex s agrument that the spill was caused by force majeure is unacceptable

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

Philex secures P2-B loan for Padcal, Silangan projects

Nov 10, 2012 - 3:14 PM

Pangilinan led Philex Mining secured a P2 1 billion loan to fund the capital expenditures of its Padcal mine in Benguet and its Silangan project in Surigao del Norte

Philex to construct 2 new tailings ponds in Padcal mine

Sep 24, 2012 - 5:09 PM

Philex is looking at spending over P600 million to build two replacement tailings ponds after one of their existing one was damaged and leaked sediments after a heavy rain

Philex mine leak impact 'severe and substantial' - MVP

Sep 21, 2012 - 10:43 AM

The Padcal mine leak not only affected Philex bottomline for 2012 but also the entire mining industry

Padcal mine leaks to hit Philex's 2012 profits

Sep 09, 2012 - 5:58 PM

Philex may miss 2012 income target due to tailing pond leak at its only operating mine

After another mine spill, Philex eyes replacing Benguet facility

Sep 02, 2012 - 4:40 PM

Philex stands ready to replace tailings pond No 3

Philex-Benguet mine. AFP photo.