United Paragon Mining Corp., the gold producer controlled by the Ramos family, agreed to a debt-to-equity conversion that will hand a 13.3 percent stake to the Marsman Drysdale Group as the miner seeks to clean up its balance sheet despite nearly two decades of suspended operations. The company’s...
The government is poised to cancel the birth certificate of nickel magnate Joseph Sy after authorities identified him as a Chinese national. The Office of the Solicitor General (OSG) made the disclosure at the Senate Justice and Human Rights subcommittee hearing on Monday, December 15, led by Sen....
DAVAO CITY – The provincial government of Davao Oriental has intensified efforts to protect the environment against the hazardous impact of large-scale mining operations as well as unauthorized small-scale mining activities, quarrying, and transport of other minerals. Authorities recently shut...
Hong Kong-based investment holding firm First Pacific Co. Ltd. expects its earnings to continue its upward trajectory through increased contributions from its Philippines businesses, Philex Mining Corp., and digital bank Maya. In a virtual investor conference, First Pacific stated that the two...
Some economists are sounding the alarm that the Philippines is rapidly de-industrializing, basing their observation on the decreasing share of manufacturing as a percentage of gross domestic product (GDP). It is true that manufacturing is not growing as fast as some service sectors like IT-BPM,...
The Department of Environment and Natural Resources (DENR) will begin auctioning off about 50 idle mining assets nationwide to the private sector as early as next month, in line with the government’s efforts to maximize the country’s vast natural resources. DENR Undersecretary Carlos Primo...
The Chamber of Mines of the Philippines (COMP) expects the local mining industry to once again become a major driver of the national economy in the near term, driven by the recent implementation of favorable reforms. Speaking before the 2025 Mining Philippines International Conference and...
President Marcos warned over irresponsible mining, stressing that it must benefit communities, not burden them. In leading the opening of the Mining Philippines 2025 International Conference and Exhibition on Wednesday, Oct. 22, Marcos called for responsible mining, stressing that every operation...
Diversified engineering conglomerate DMCI Holdings, Inc. has declared a special cash dividend of ₱0.48 per share, amounting to ₱6.4 billion, following a hefty ₱5.33 billion cash dividend declaration by subsidiary Semirara Mining and Power Corp. In a disclosure to the Philippine Stock...
Gov. Humerlito A. Dolor has approved an ordinance prohibiting sand mining and dredging in the coastline and municipal waters of the province, ending speculations that he was supporting large-scale seabed mining and other forms of destructive extraction of minerals from coastal areas. Dolor recently...
United Paragon Mining Corp., a listed firm controlled by National Bookstore’s Ramos family, is seeking to wipe out ₱876.57 million in debt by converting preferred shares and bonds into equity. In a disclosure to the Philippine Stock Exchange, the firm stated that its board of directors has...
DAVAO CITY – Davao de Oro Gov. Raul Mabanglo ordered the temporary suspension of all mining operations, effective immediately, following the magnitude-7.4 earthquake that struck the Davao region on Friday, Oct. 10. Mabanglo confirmed the order during the Regional Disaster Risk Reduction and...
