PMEA Blog

Ratel Gold Ltd. (RTL.TO) is up 0.02 to 0.48 in initial trading after announcing a strategic alliance with CGA Mining Ltd. (CGA.TO) to acquire a 60% interest held by Russell Mining & Minerals Inc. in the King-king Copper-Gold project in the Philippines. CGA stock is up about 2%, climbing 0.05 to 2.85.
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The Philippines Mining Act has caused controversy since its inception in 1995, attracting protest from Catholic church groups, human rights organisations and trade unions. With the election of President “Noy Noy” Aquino in July, hopes that the mining policy would be reviewed and the rich biodiversity of the Filipino environment preserved have proved elusive.
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MANILA, Philippines - The estimated value of minerals produced by Philex Mining Corp. rose 20% during the first 8 months of 2010.
Based on the firm’s disclosures to the Philippine Stock Exchange, production from January to August amounted to P7.42 billion compared to P6.2 billion in the same period last year, owing to increased tonnage, better […]

Amy R. Remo
Philippine Daily Inquirer
MANILA, Philippines–Philex Mining Corp., the country’s largest miner, is set to indirectly acquire all of the outstanding common shares of Toronto-based Philex Gold Inc. from minority shareholders for $0.75 apiece.
In a disclosure to the Philippine Stock Exchange, Philex Mining said Philex Gold was able to obtain an interim order from the […]

Diversifying conglomerate San Miguel Corp. may find itself mired in a legal tussle after acquiring controversial coal miner Daguma Agro Minerals Inc.
San Miguel has just bought Daguma Agro (See March 6, 2010 issue of Standard Today), an upstart mining company that has rights over one of the country’s richest coal deposits, and plans to put […]

Metals Exploration PLC (AIM: MTL) said step-out diamond drilling at the Runruno gold-molybdenum project on the island of Luzon in the northern Philippines has encountered mineralisation whose style is directly analogous to the main Runruno deposit.
Three holes were drilled 700 metres south east of the most southerly known mineralisation of the Runruno deposit, Sample intersections […]

ILOILO CITY, Philippines—Environmental groups lamented what they called the dismal end of the global summit on climate change in Copenhagen and issued a challenge to the Philippines.
“It was a major disappointment and it has stopped the momentum of efforts to push for a concerted global effort to address climate change by reducing carbon emission,” Von […]

Miguel R. Camus / Reporter
LISTED Atok-Big Wedge Co. Inc. is infusing additional funds into gold mining subsidiary Atok Gold Mining Co. Inc. as the parent firm prepares for the upcoming takeover of the business group led by former trade minister Roberto Ongpin.
In a disclosure to local stock exchange on Monday, Atok said it has approved […]

The Philippines, a country with an abundance of natural resources, has remained a largely untapped market for the mining industry. However, it seems the Filipino government has finally decided to start capitalizing on its inherent asset by pursuing investor-friendly reforms designed to benefit all stakeholders.
The debate over the exploitation of the country’s vast mineral […]

Lake Sebu, South Cotabato – A coal mining company in the remote Barangay Ned, Lake Sebu has threatened to sue an anti-coal mining group for mounting posters calling for their ouster from the area.
Sultan Energy and Development Corporation (SEPC) removed posters mounted by members of Hublag Kontra Mina (HUKOM-Movement Against Mining) in Sitio Tafal, Barangay […]