PMEA Blog

From: Manilastandardtoday.com
By Jenniffer B. Austria

Philex Mining Corp., the Philippines’ oldest and largest mining operator, is earmarking P1.52 billion in capital expenditure this year to explore new mine sites.

Philex chairman and chief executive Walter Brown told reporters following the company’s special stockholders’ meeting that the company was allotting P625 million for the exploration of several areas, including Padcal in Benguet, Negros island, Surigao del Norte, Zamboanga and Madagascar.

Brown said these areas would be explored for possible copper and gold production. He said the mining company had teamed up with Anglo American Exploration (Philippines), a wholly-owned subsidiary of Anglo America Plc, to explore in Boyongan, Surigao del Norte.

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