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Philex restores crucial facility at Padcal mine

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Philex Mining Corp. has restored Tailings Storage Facility No. 3 (TSF3) at the Padcal mine to a level of stability where the company may be able to sustain “continued operations.”

Posted: November 28th, 2013 in Headlines | Read More »

Philex gets reprieve

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ON AUG. 1 last year, Tailings Storage Facility No. 3 of Philex Mining Corp. in Itogon, Benguet, leaked and spilled 20 million metric tons of silt into the Balog Creek and Agno River. As of late April, Philex officials said cleanup in the creek was 98-percent complete. RICHARD BALONGLONG

The Mines and Geosciences Bureau (MGB) has allowed Philex Mining Corp. to operate the Padcal mine in Benguet beyond July 7 or when the four-month temporary resumption of operations ends following the breach of a tailings pond in August last year.

Posted: July 6th, 2013 in Latest Business Stories | Read More »

Temporary resumption of Padcal operations sought

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philex-mining

Listed gold and copper producer Philex Mining Corp. said on Wednesday that a temporary resumption of operations at its Padcal mine in Benguet was needed to keep the structural integrity of the mine’s tailings pond.

Posted: February 7th, 2013 in Latest Business Stories | Read More »

Miners seek Philex reopening

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A miner monitors quarrying operations at Philex Mining’s old open pit mine in Benguet. The P1-billion penalty paid by Philex Mining for the tailings spill that occurred at its Padcal mine site in August 2012 may have been “low,” according to Sen. Sergio Osmeña III. INQUIRER FILE PHOTO

Employees of Philex Mining Corp. staged a protest ritual in front of the Mines and Geosciences Bureau (MGB) headquarters in Quezon City on Wednesday to press for the reopening of the company’s Padcal mine in Benguet that the government ordered shut after a massive mine tailing spill in August last year.

Posted: February 7th, 2013 in Latest Business Stories | Read More »

Philex vows to work with gov’t on Padcal

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A miner monitors quarrying operations at Philex Mining’s old open pit mine in Benguet. The P1-billion penalty paid by Philex Mining for the tailings spill that occurred at its Padcal mine site in August 2012 may have been “low,” according to Sen. Sergio Osmeña III. INQUIRER FILE PHOTO

Gold and copper producer Philex Mining Corp. promised to cooperate with the Mines and Geosciences Bureau of the Department of Environment and Natural Resources, which ordered the company to pay the P1.03-billion fine for tailings leak at its mining site in Benguet.

Posted: January 18th, 2013 in Latest Business Stories | Read More »

Philex cleanup budget for Padcal to breach P1B

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philex-mining

Philex Mining Corp. said it would spend more than P1 billion for the rehabilitation and cleanup of Balog Creek near its Padcal mine.

Posted: November 26th, 2012 in Latest Business Stories | Read More »

Philex mulling over options on Padcal mining resumption

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Philex Mining Corp. is studying ways to restart operations at the Padcal copper-gold mine in Benguet, including reusing its existing tailings pond with a plugged drain and/or creating a new tailings dam, officials said.

Posted: October 12th, 2012 in Headlines | Read More »

Philex shares fall as mine shutdown looms

Shares of Philex Mining Corp. fell sharply on Monday in the stock market as investors braced for the revenue impact of a prospective shutdown in its flagship Padcal mine in Benguet for the rest of the year. The share price of Philex slipped another 8.14 percent to P15.80.

Posted: September 10th, 2012 in Headlines | Read More »

Philippine gold miner says shutdown to hit profit

Manny V. Pangilinan. FILE PHOTO

The Philippines’ largest gold and copper producer says its full-year earnings will drop as its mine in northern Benguet province remains shut after waste leaked from a storage pond.

Posted: August 9th, 2012 in Latest Business Stories | Read More »

Pangilinan-led First Pacific to buy 3 gold mine projects

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first-pacific

Regional conglomerate First Pacific Co. Ltd., led by Manuel V. Pangilinan, plans to acquire three new mining projects, two of which are in the Philippines, as part of its ambition to grow its mining business into a medium-sized gold producer globally with annual gold output of one million ounces.

Posted: June 21st, 2012 in Latest Business Stories | Read More »

One of Philippines’ original mines reflects on new life

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A miner monitors quarrying operations at Philex Mining’s old open pit mine in Benguet. The P1-billion penalty paid by Philex Mining for the tailings spill that occurred at its Padcal mine site in August 2012 may have been “low,” according to Sen. Sergio Osmeña III. INQUIRER FILE PHOTO

This was supposed to be the year when one of the country’s oldest mines in Benguet should have stopped operations.

Posted: July 3rd, 2011 in Editor's Pick,Headlines,Photos & Videos | Read More »

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