Philex Mining Corporation, one of the oldest and largest gold and copper producers in Southeast Asia, reported a drop in core net income to P864 million for the first nine months of 2023 from the P1.54 billion earned in the same period last year as its Padcal mine nears depletion. In a disclosure...
Yindjibarndi Energy Corporation (YEC), a subsidiary of Ayala-led ACEN Corporation has inked a preliminary deal with London-headquartered Rio Tinto for development collaboration on the latter’s targeted energy usage shift to renewable energy in its Australian mining operations. In a press...
Consunji-led Semirara Mining and Power Corporation (SMPC) has declared record-high special cash dividends of P14.88 billion, based on the approval granted by its board of directors on October 10 this year. The company noted that the special cash dividends will form part of the payout that it has...
Berong Nickel Corporation (BNC), a subsidiary of the Consunji family’s DMCI Mining Corporation, reported that it has successfully rehabilitated over 30 hectares of the now-depleted Berong nickel mine. In a disclosure to the Philippine Stock Exchange (PSE), the firm said this means it has...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) A measure that aims to increase government revenues from the mining industry has been passed on third and final reading during a marathon session in the House of Representatives. ...
DMCI Mining Corporation expects to surpass its 2022 nickel ore production and shipments after recording notable improvements in the first semester, even as it expects two new mines in Zambales with combined investments of over P500 million to start operations within a year. In an interview, DMCI...
The mining sector wishes that the government will set up a one-stop shop for the securing of permits needed to develop mineral resources in the country—similar to the one put up by the Department of Energy (DOE). “Of course, we’d love to have streamlined permits. I think DOE is setting the...
With the funding and development of its estimated $244 million Silangan gold mine underway, Philex Mining Corporation is now planning to venture into nickel mining while eyeing the possible acquisition of two gold prospects: the old Dizon copper silver mine and the Macawiwili property beside its...
Mining allows green technology to flourish on top of economic benefits such as the generation of revenues and jobs to uplift the lives and promote the welfare of the people, particularly in far-flung areas, according to businessman Manuel V. Pangilinan. As Philex Mining Corporation chairman,...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The proposed "Philippine Mining Fiscal Regime Act", which seek to enhance the fiscal regime for the mining industry has gained penultimate approval in the House of Representatives. Approved on...
The Court of Tax Appeals (CTA) has denied the petition filed by FCF Minerals Corporation (FCF) -- a firm engaged in the exploration, development, and commercial operation of mineral claims -- to refund the P57.8 million taxes it paid for its imported equipment. In 2009, FCF and the government...
Apex Mining Co. Inc. reported a 13 percent drop in consolidated net income to P1.4 billion in the first half of the year as heavy rains and landslides disrupted operations in the first quarter. In a disclosure to the Philippine Stock Exchange, the firm said its consolidated gross revenues reached...
