PMEA Blog

TUGUEGARAO, Philippines – The provincial government of Cagayan and the regional office of the Mines and Geosciences Bureau (MGB) are again at loggerheads over the latter’s prompt awarding of Environmental Compliance Certificates (ECC) to several quarry firms in Cagayan while a stoppage order to quarry in the same site has been issued by them to […]

By Elizabeth Sanchez-Lacson
Wellex Industries Inc., the publicly listed investment company of plastics magnate William Gatchalian, has obtained shareholders’ approval for a plan to shift its core business to mining and energy from manufacturing.
Company officials said Wellex was open to negotiations with possible foreign partners on future mining ventures
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MANILA, Philippines - Falling metal prices—brought about by a seen demand slowdown—cut earnings of the Philippines’ largest mining company for the third quarter this year.
Profits of Philex Mining Corp. fell 29 percent to P1.07 billion from the same period one year ago, the company said in a disclosure to the Philippine Stock Exchange (PSE).
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MANILA, Philippines - Philex Mining Corp., a subsidiary of Philex Gold, Inc., has completed the pre-feasibility study of its Surigao del Norte copper-gold mine, the company said in a disclosure to the stock exchange.
The study, completed by South African consulting firm Independent Resource Estimations, said the Boyongan copper-gold project is economically viable given the estimated […]

Nikkei without saying sources reported that Sumitomo Metal Mining Co will delay construction of a nickel ore processing plant in the Philippines by one year as the slowing global economy cuts demand and prices for the metal.
Nikkei added that the plant on Mindanao Island, designed to have annual capacity of 30,000 tonnes, may start production […]

MANILA, Nov 11, 2008 (Dow Jones Commodities News via Comtex) — MNLXF | Quote | Chart | News | PowerRating — (Adds comment from Anglo American.)
Anglo American PLC (AAUK) has terminated an agreement with Manila Mining Corp. (MMC.PH) to jointly explore the Kalayaan copper gold property in southern Philippines, the companies said Tuesday.
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THE COURT of Appeals has allowed OceanaGold Philippines, Inc. to continue its excavation works in an area in Kasibu, Nueva Vizcaya, saying its activities there are well within the provisions of its mining agreement with the government.
In a 15-page decision penned by Associate Justice Rosalinda Asuncion Vicente, the fifth division of the appellate court consequently […]

MANILA, Philippines - The Diocese of Butuan, Agusan del Norte on Saturday accused mining companies of destroying their province’s environment due to extensive mining activities.
In an interview aired over Radio Veritas, Butuan Bishop Emeritus Zacharias Jimenez said that the province’s environment is now “beyond repair.”
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Japan’s Sumitomo Metal Mining (SMM) is delaying its 30,000 tpy nickel processing project in the Philippines as it tries to scale down capital expenditure, company sources said. The steep fall in the nickel price has forced the company to review the project and postpone the start of construction. “It is important…
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MANILA, Philippines- Philex Mining Corp., the country’s largest miner, on Tuesday disclosed that it has recently shipped P735-million worth of precious metals.
In a statement to the Philippine Stock Exchange, the company said that the shipment was made on October 30.
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