As sovereign wealth funds (SWFs) abroad also eye the Philippines ' mining sector, Maharlika Investment Corp. (MIC) is stepping up to serve as a vehicle for co-investments. MIC President and Chief Executive Officer (CEO) Rafael D. Consing Jr. told Manila Bulletin last May 8 that an SWF "near...
Looking ahead to this year’s goal of boosting its performance in the energy sector, Consunji-led Semirara Mining and Power Corp. (SMPC) plans to continue its exploration of the 700-megawatt (MW) Saint Raphael Generation Corp. (SRGC) project. During the company’s annual stockholders’ meeting...
Philex Mining Corporation reported a 32 percent drop in core net income to ₱71 million in the first quarter of 2025 from the ₱105 million earned in the same period last year as higher costs offset the impact of rising metal prices. In a disclosure to the Philippine Stock Exchange, the firm said...
The Court of Tax Appeals (CTA) has denied the P40 million tax refund sought by the Lepanto Consolidated Mining Company for its alleged unutilized input value-added tax (VAT) attributable to zero-rated sales for 2018. In its petition, Lepanto Consolidated Mining said that it exported all of its...
As a responsible mining company, Apex Mining (APX) effectively manages and mitigates its impact to the environment. In 2024, under its Annual Environmental Protection and Enhancement Program (AEPEP), the company spent P141.5 million to carry out activities, initiatives, and programs that...
DAVAO CITY – A mining firm denied on Tuesday, April 8, that they failed to pay their taxes in Pantukan town in Davao de Oro province. On April 3, the municipal government held a press conference where municipal officials accused Hexat Mining Corp. of not paying their taxes for a significant...
photo: CIDG Operatives of the Criminal Investigation and Detection Group (CIDG) arrested two Koreans and nine Filipinos after they were caught transporting 500 sacks of suspected copper ore minerals in Butuan City. CIDG director Maj. Gen. Nicolas Torre III said the foreigners and their alleged...
Philex Chairman Manuel V. Pangilinan Philex Mining Corp. is negotiating with a potential foreign investor that may take a minority stake in its wholly owned subsidiary, Silangan Mindanao Mining Co. Inc. In an interview, Philex Chairman Manuel V. Pangilinan said the investor will come in...
DMCI Holdings Executive Vice President and Chief Finance Officer Herbert Consunji Consunji-led DMCI Holdings Inc. is allotting about ₱70 billion for capital expenditures (capex) this year—including investments of affiliate Maynilad Water Services Inc., making its budget 45 percent more...
Apex Mining Co. Inc. reported a 28 percent growth in consolidated net income to ₱4.3 billion last year from the ₱3.4 billion earned in 2023 due to higher gold output and prices as well as a more favorable exchange rate. In a disclosure to the Philippine Stock Exchange, the firm said...
The Philippine Nickel Industry Association (PNIA) has strongly opposed a local ordinance imposing a 50-year moratorium on new mining operations in Palawan, citing its economic impact and conflict with national law. The Sangguniang Panlalawigan ng Palawan on Wednesday, March 5, approved the...
Senate President Francis “Chiz” Escudero on Thursday, March 6 welcomed the announcement of a joint venture between Nickel Asia Corporation and DMCI Mining Corporation to develop a nickel processing plant in the country. He called the partnership a “monumental stride” in adding...
