Philex core income dropped 90% in March
The consolidated core income of Philex Mining Corp. dropped by 90 percent to P132 million in March because of a reduction in the operations of its Padcal copper-gold mine in Benguet.
The consolidated core income of Philex Mining Corp. dropped by 90 percent to P132 million in March because of a reduction in the operations of its Padcal copper-gold mine in Benguet.
Philex Mining Corp. disclosed Tuesday that it would raise P12.3 billion from a stock rights offering to repay loans and fund mining activities.
The Department of Environment and Natural Resources (DENR) on Tuesday allowed Philex Mining Corp., the country’s biggest copper and gold producer, to resume its mining operations for remediation purposes.
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.
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.
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.
They say imitation is the sincerest form of flattery. That’s why you have senators “imitating” dead presidents’ speeches. You also have stall owners in Greenhills openly selling handbags copied from high-end luxury brands. But this practice apparently hasn’t spared the local restaurant industry.
Philex Mining Corp.’s appeal has been denied and it is now ordered to settle P1 billion in penalties for having been found negligent in averting a mineral waste spill at its mining site in Benguet.
Hong Kong-based First Pacific Co. Ltd. has extended a $200-million loan to Philex Mining Corp. to pave the way for the resumption of mining operations at the Padcal mine in Benguet.
The Court of Appeals has ordered the Pasig City Regional Trial Court to proceed with the hearing of the derivative suit seeking to compel businessman and former Trade Minister Roberto Ongpin to return P412 million in “short swing profits” he had allegedly earned from the sale of shares of Philex Mining Corp.
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.
A financing company recently went under, but its principals have, so far, managed to keep the whole thing hush hush.
