Philex unit posted net loss of P24.5M in first 3 months
By Amy R. RemoPhilex 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Philex Mining Corp. reported a 20-percent growth in the value of its shipments in the first four months of the year to P4.33 billion, from P3.62 billion in the same period of 2011.
Philex Mining Corp. disclosed Friday that it shipped P2.057 billion in various metals in April 2012.
Fearing for the safety of guests who will fly from Manila, San Miguel Corp. president Ramon S. Ang (a.k.a. RSA) was almost tempted to call off the launch of its Caticlan airport rehabilitation project last Saturday due to bad weather conditions. After all, the guest of honor was P-Noy (President Aquino) himself. But since Malacañang [...]
