PMEA Blog

Medusa Mining has announced a JORC compliant maiden Inferred Resource of 650,000 ounces of gold in 15,000,000 tonnes at a grade of 1.3 g/t gold for the Bananghilig Gold Deposit located in the Tambis District, Philippines.
The new resource will boost the Medusa Mining’s total resource inventory to approximately 2.03 million ounces of gold.
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CHERYL M. ARCIBAL, GMANews.TV
Philex Mining Corp., one of the country’s largest miners, has doubled its annual income projections for this year as it expects higher gold and copper prices.
Instead of the previous forecast of P1.5 billion, the company is expecting to earn P3 billion this year, still higher than profits of P2.8 billion in 2008.
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High grade, low cost gold producer, Medusa Mining (ASX: MML) has defined a maiden JORC inferred resource at the Bananghilig Gold Deposit in the Philippines to 650,000 ounces of gold at 1.3 g/t.
Medusa’s main asset is the Co-O gold mine on the southern Filipino island of Mindanao, which has a JORC resource of 1.38 million […]

By Doris Dumlao
Philippine Daily Inquirer
FRESH PROSPECTS OF A bidding war for control of two local crown jewels—Philex Mining Corp. and Manila Electric Co.— yesterday perked up investor interest in local stocks and boosted the main-share index by 2.42 percent.
The Philippine Stock Exchange index surged to 2,850.58, with the climb also influenced by an upbeat trading […]

by Wendy Durham
That’s what they say about property development. Certainly, location has been a major driver of the Mayfair-centred, luxury property developments master-minded by Christian and Nick Candy. Addresses such as One Hyde Park have a certain cachet.
Following various bank meltdowns and the collapse of the housing market, Christian Candy has taken the bold decision […]

By Doris Dumlao
Philippine Daily Inquirer
First Posted 03:04:00 08/08/2009
SHARES OF PHILEX MINING CORP. SURGED by 13.9 percent yesterday on prospects of a potential bidding war between First Pacific Co. Ltd. of Hong Kong and San Miguel Corp. president Ramon Ang over a significant government block in the country’s largest mining company.
Defying a general downturn in the […]

MANILA - Ten small scale miners were confirmed killed and 3 more were waiting to be retrieved from a mining camp hit by landslides in Baguio City, a police official said Saturday.
Senior Superintendent Nestor Bergonia, Baguo City police chief, said the 10 miners were from a landslide-hit mining camp of the Emerald Mountain Explorers Association […]

Metals Exploration PLC (AIM: MTL) said the exploration permit (EP) covering the Runruno gold-molybdenum project in the Philippines has been renewed by the government for a year.
The EP granted to its unit FCF Minerals Corporation was renewed on July 31 2009 by the Director of the Mines and Geosciences Bureau (MGB) of the Department of […]

MANILA, Aug 4 (Reuters) - Atlas Consolidated Mining and Development Corp (AT.PS), the Philippines’ second-largest miner, plans to increase copper concentrate production at its Toledo mine as it ships more of the concentrate to China, the company said on Tuesday.
Encouraged by higher prices, some metals producers worldwide are reopening mines and expanding capacity in anticipation […]

Business Mirror reported that Philippine Department of Energy has approved the mining of this island province’s estimated 1.2 million tonnes of high quality coal deposits under the fourth Philippine Energy Contracting Round of 2009.
The Catanduanes coal district covers 8,000 hectares in 14 upland barangays within Panganiban, San Andres and Caramoran, all major abaca and coconut […]