PMEA Blog

Medusa Mining, the Australian group behind the development of the Co-O gold mine in the Philippines, has posted a record set of interim results including a 200% rise in net profits after tax of US$28.3 million.
Revenues were up by 161% to a record US$41.3 million, mainly on the back of increased gold production and a […]

abs-cbnNEWS.com
MANILA, Philippines - Philex Mining Corp.’s wholly-owned subsidiary, Philex Petroleum Corp. (PPC), has bought an additional 2.4% stake in Forum Energy Plc (FEP), raising the Philex Group’s total interest to 65%.
FEP is a UK-based oil and gas exploration company which recently announced the approval of the conversion of its Geophysical Survey and Exploration Contract (GSEC) […]

CALGARY, ALBERTA–(Marketwire - Feb. 22, 2010) - TVI Pacific Inc. (TSX:TVI) (”TVI” or the “Company”) announced today drilling has resumed at the Balabag epithermal gold project that is 100%-owned by its subsidiary TVI Resource Development (Phils.), Inc.’s (”TVIRD”). The property, covered by Mineral Production Sharing Agreement MPSA 086-97-IX, is located approximately 76 kilometres northeast of […]

A UNIT of Nihao Mineral Resources International, Inc. has obtained the right to explore a mining tenement in Zambales province.
Nihao Mineral Resources told the bourse yesterday the Department of Environment and Natural Resources and wholly owned unit Mina Tierra Gracia, Inc. executed a mining production sharing agreement last Friday.
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GENERAL SANTOS CITY (MindaNews/18 Feb) - Coal mining firm Sultan Energy Philippines Corp. has started the test production phase of the Daguma coal field in Lake Sebu, South Cotabato, a senior company official said on Thursday.
“We’re still working on to get the endorsement of the barangay unit for us to extract 68,000 tons of coal […]

MARTA STEEMAN - BusinessDay
Leading gold miner OceanaGold is aiming to raise US$75m to buy out its gold hedging contracts and sell its gold on the spot market.
The equity raising announcement comes as OceanaGold completes a record year of gold sales and production of more than 300,000 ounces from its New Zealand mines in the South […]

Atlas Consolidated Mining and Development Corporation (PSE:AT), in a disclosure to the Philippine Stock Exchange, announced that it has successfully completed the third shipment of copper concentrates amounting to 5,504 wet metric tons (wmt) to its Chinese client on February 16.
The copper ore come from the mining firm’s Carmen Copper Corporation (CCC) subsidiary in Toledo […]

Jonathan L. Mayuga / Correspondent
THE Philippines has been selected as a pilot area for the regional project on the reduction of mercury exposure in artisanal and small-scale gold-mining (ASGM) operations of the United Nations Environment Program (UNEP).
Environment Sec. Eleazar Quinto welcomed the new development, saying small-scale miners will greatly benefit from the project. He said […]

Toledo Mining Corporation plc (”Toledo” or the “Company”) (AIM:TMC) is pleased to announce that Berong Nickel Corporation (”BNC”) has received an approved Exploration Permit EP60 to commence its planned drilling programme at the Berong nickel project. A drilling programme of 20,000 metres will commence immediately with six drill rigs which are already on site […]

Neil Jerome C. Morales, BusinessWorld
MANILA, Philippines - Listed Atlas Consolidated Mining and Development Corp. is looking at reopening its nickel mine in Southern Luzon this year to take advantage of the recovery in nickel prices, company executives said.
The miner is also studying the feasibility of putting up a processing plant to add value to the […]