philex mining - updates

Rappler's latest stories on philex mining

ARTICLE FINDER

Philex Mining eyes high-grade ores by 2022

Mar 22, 2019 - 1:26 PM

Philex Mining says that there are now strong indications of higher mineral resources compared to prior declared levels

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

CA clears Roberto Ongpin of insider trading

Dec 12, 2017 - 2:45 PM

The decision reverses a July 2016 Securities and Exchange Commission ruling which barred Ongpin from joining the board of any listed firm and fined him P174 million

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

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

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

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

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

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

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

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

MVP gives up CEO post in Philex

Apr 04, 2013 - 10:20 AM

Businessman Manuel Pangilinan will remain as chairman of the gold and copper producer

NO LONGER CEO. Philex Mining Corp. cites corporate governance for decision of businessman Manuel V. Pangilinan to relinquish CEO post. Photo from AFP

Ongpin case no impact on Alphaland - exec

Apr 03, 2013 - 11:10 AM

Roberto Ongpin s court case has not affect Alphaland s financials

FROZEN ASSETS. Alphaland boss Mario Oreta (right) says the frozen assets of the country's 11th richest, Roberto V. Ongpin (left) have no impact on the property firm. Photo by Aya Lowe/Rappler

After Philex mine reopens, issues linger


Mar 13, 2013 - 1:08 PM

Having two government bodies approve Philex Mining s Padcal re opening summarizes the excessive bureaucracy in the Philippines

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

Philex to resume Padcal operations by March 8

Mar 07, 2013 - 6:21 PM

After about 8 months since the Padcal gold and copper mine was shut Philex Mining Corp is set to resume temporary operations by midnight March 8

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

Philex gets final go-signal to resume mining

Mar 06, 2013 - 5:13 PM

The pollution body gives go signal for Philex Mining to temporarily resume operations at its Padcal gold 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

Philex hopes to reopen Padcal next week

Feb 28, 2013 - 3:55 PM

Company chair Manuel Pangilinan says they may get permit from the Pollution Adjudication Board next week

MINE SPILL. A Philex Mining staff checks the penstock of the tailings pond of Padcal mine in Benguet. Photo courtesy of Philex

Philex ends 2012 with P295-M loss

Feb 28, 2013 - 12:14 AM

The closure of Padcal mine in Benguet and write offs of oil and coal assets pulled down the 2012 bottom line of the country s biggest extractive industry player

MINE SPILL. A Philex Mining staff checks the penstock of the tailings pond of Padcal mine in Benguet. Photo courtesy of Philex

MVP-led Philex Petroleum posts P1.09-B loss in 2012

Feb 22, 2013 - 11:22 AM

The listed oil and gas unit of the Manuel V Pangilinan business group wrote off losses from coal and gas projects in 2012

Philex sells PetroEnergy shares at discount

Feb 22, 2013 - 9:53 AM

Philex Petroleum sells its entire stake in PetroEnergy Resources to Yuchengco led RCBC Securities Inc