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PSE press release a hoax

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A mysterious press statement from someone claiming to be Jinky Alora, office in charge of the market regulation department (MRD) of the Philippine Stock Exchange, found its way into the mailbox of reporters covering the stock market beat on Monday. Quoting a May 2013 PSE report to the Securities and Exchange Commission, the statement announced that the PSE had fined 19 listed companies and reprimanded seven others for violating disclosure requirements that involved breaching the blackout rule, non-disclosure, delayed submission of reports and non-submission of reports.

Posted: July 3rd, 2013 in Editor's Pick,Headlines | Read More »

Philex seeks more time to meet rehab condition

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Philex Mining Corp. is considering seeking an extension of its permit for the temporary resumption of its operations here, saying it needs more time to achieve the minimum requirements under the rehabilitation work laid out in the permit.

Posted: June 16th, 2013 in Headlines | Read More »

Philex says Napocor seeking P6.42B

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Philex Mining Corp. has received monetary and other demands from the state-owned National Power Corp. (NPC) in connection with the accidental discharge of tailings from the Padcal mine in Benguet province last year.

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

Philex unit posted net loss of P24.5M in first 3 months

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Philex Petroleum Corp. posted a net loss of P24.5 million in the first quarter of 2013, an improvement from the P46.2-million net loss it registered a year ago.

Posted: April 20th, 2013 in Headlines | Read More »

Philex core net income drops 69%

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Still reeling from the suspension of operations at its Padcal mine in Benguet, the country’s largest gold and copper producer Philex Mining Corp. reported that its core net income in 2012 plunged by 69 percent to P1.705 billion from P5.568 billion a year earlier.

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

Philex agrees to pay in full P1.034B fine for mine spill

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Philex Mining Corp. will pay in full the P1.304-billion fine imposed by the government over the mine spill at its Padcal mines a day ahead of the deadline.

Posted: February 15th, 2013 in Editor's Pick,Headlines | Read More »

Philex appeal vs fine rejected

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philex mining logo-ra

The Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources on Tuesday denied with finality the appeal of Philex Mining Corp. in connection with the P1.034-billion fine slapped on the company for the tailing leak at its mining site in Benguet following days of incessant rains.

Posted: January 16th, 2013 in Latest Business Stories | Read More »

Philex plugs leaking Padcal mine tunnel

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Philex Mining Corp. on Thursday said that it completed the concrete plugging of the tunnel at its Padcal Mine, in Benguet, which had leaked wastewater and sediments into the nearby Balog Creek and the Agno River at the height of a typhoon two months ago.

Posted: October 18th, 2012 in Editor's Pick,Headlines | Read More »

Philex sees net profit dropping to P1.5-1.7B

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Philex Mining Corp. may miss its bottomline target by about two-thirds as costs add up due to the prolonged closure of its only operating mine.

Posted: September 22nd, 2012 in Editor's Pick,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 »

Philippine gold mine suspended over spill

INQUIRER FILE PHOTO

The Philippines has indefinitely suspended the operations of the country’s largest gold mine after a waste spillage near a major river, officials said Monday.

Posted: August 6th, 2012 in Latest Business Stories | Read More »

Blue-blooded Igorot heads PH’s largest mine company

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THE PHILEX executive holds up a chunk of ore that contains gold.

One commonly heard criticism of the local mining industry is that it rarely benefits the indigenous people—known by the shorthand: IPs—where the mining firms operate.

Posted: July 14th, 2012 in Featured Gallery,Headlines,Inquirer Features,Photos & Videos | Read More »

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