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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 preps P13.8B stock rights offer

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

Philex Mining Corp. is offering P13.8 billion worth of shares in a stock rights offering to fund mining projects and pay loans.

Posted: September 13th, 2013 in Latest Business Stories | Read More »

Extension of temporary relief for Philex OKd

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The Pollution Adjudication Board (PAB) has extended the temporarily lifting of its order stopping Philex Mining Corp. from producing tailings at the Padcal Mine in Benguet.

Posted: July 10th, 2013 in Headlines | Read More »

Philex core income dropped 90% in March

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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.

Posted: May 2nd, 2013 in Latest Business Stories | Read More »

Philex raises P12.3B from stock rights offer

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Philex Mining Corp. disclosed Tuesday that it would raise P12.3 billion from a stock rights offering to repay loans and fund mining activities.

Posted: March 13th, 2013 in Headlines | Read More »

DENR allows Philex to open for 4 months

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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.

Posted: February 27th, 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 »

Biz Buzz: Imitation, Greek-style

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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.

Posted: January 8th, 2013 in Editor's Pick,Headlines | Read More »

Philex loses P1B appeal, ordered to settle penalty

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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.

Posted: November 23rd, 2012 in Headlines | Read More »

First Pacific extends $200M loan to Philex Mining

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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.

Posted: November 19th, 2012 in Latest Business Stories | Read More »

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