PMEA Blog

Gold miner CGA Mining Ltd has returned to profitability, posting a solid full year result following the start of production at its Masbate project in The Philippines.
Shares in CGA had eased six cents, or 2.12 per cent, to $2.77 by 1322 AEST.
Net profit for the 12 months to June 30 was $15.99 million compared to […]

Canadian miner Philippine Metals, Inc. yesterday said it has started drilling at its Taurus project in Leyte after completing a ground survey of the area.

The miner yesterday said in a statement it has completed a “ground geophysical induced polarization survey” aimed at detecting mineral deposits.

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Simon Hartley

Oceana Gold has completed a long-awaited study into its mothballed gold and copper development mine at Didipio, in the northern Philippines, which has been mothballed for almost two years after a massive cost blowout.

Oceana said the optimisation study of the mine, on which it is estimated to have spent $US120 million ($NZ166.2 million) in […]

Lepanto Consolidated Mining Co. (Lepanto) has closed a deal with New Zealand firm Gold Fields Ltd. for the latter to take up a 60 percent interest in its Far Southeast mining claim in Mankayan, Benguet, in order to jumpstart development.

The New York Stock Exchange-listed Gold Fields has committed to participate in the development of the […]

A Mines & Geosciences Bureau official said in a press briefing at the sidelines of the Mining Philippines 2010 Conference and Exhibit that mining investments hit at least USD 600 million in the first half of 2010. Those investments, however, had already been programmed as part of ongoing projects.

Mr Edwin G Domingo director of MGB […]

OceanaGold Ltd says it is considering funding options to complete development of its Didipio project in The Philippines.

Chairman Jim Askew said OceanaGold was considering several options to unlock value at Didipio now that the company had a strengthened balance sheet and steady gold mining operations in New Zealand.

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MELODY M. AGUIBA

The Tampakan copper-gold porphyry, the largest copper-gold deposit yet to be developed in South East Asia, is foreseen to contribute to the Philippine economy $37 billion by the end of its mine life placed at 20-40 years.

Sagittarius Mines Inc. (SMI), holder of the Financial and Technical Assistance Agreement (FTAA) for Tampakan, is looking […]

Amy R. Remo

MANILA, Philippines — Despite the hurdles it has to face, Xstrata Plc continues to hold on to the $5.2-billion Tampakan copper-gold project, adding that the Philippine economy also stands to reap as much as $40 billion within a 25-year period.

Mark Williams, general manager of Xstrata’s local subsidiary Sagittarius Mines Inc. (SMI), stressed that […]

Philex Mining Corp., the Philippines’ biggest mining company, might buy into the Didipio gold project of Australian miner OceanaGold Phils. Inc., company president and chief operations officer Ernesto Villaluna said Wednesday.

“We are conducting due diligence now. We have to study the reserve, how to increase it, as well as [the project’s] fatal flaws,” Villaluna told […]