DPWH Fast Tracks Construction of BGC to Kalayaan Viaduct
by Philippine Resources - August 02, 2021
Photo Credit: Department of Public Works and Highways
The Department of Public Works and Highways aims to complete and open the other half of the work for the BGC-Ortigas Center Link Road Project toward the end of this third quarter.
Secretary Mark Villar said that since the bridge component of new Sta Monica-Lawton Bridge now known as Kalayaan Bridge was opened on June 12 connecting the cities of Makati, Pasig, and Mandaluyong, DPWH has continued working the viaduct segment across Kalayaan Avenue, Makati City towards Bonifacio Global City’s 8th Avenue.
The DPWH Unified Project Management Office (UPMO) Operations have hastened work as we targets to fully complete the BGC-Ortigas Center Link Road Project in this third quarter of the year, added Secretary Villar.
In his report to Secretary Villar, Undersecretary for UPMO Operations Emil K. Sadain said that piers on bored piles for the elevated structure along 8th Avenue were already constructed.
Undersecretary Sadain together with UPMO Roads Management Cluster 1 Project Director Benjamin Bautista and Project Manager Ricarte Mañalac inspected the on-going works for the viaduct now in full swing with some of the pre-fabricated girders or the horizontal support structure of the slabs already installed on top of piers.
The contractor Persan Construction has also started with the construction of lean concrete retaining wall for the approach ramp at 8th Avenue, Undersecretary Sadain reported.
DPWH has been in close coordination with the service utility providers including Meralco for the necessary relocation activities to prepare the area that may get affected by the construction of ramp.
The P5.72 Billion BGC-Ortigas Center Link Road Project involves the construction of 440-meter 4-lane Kalayaan Bridge, rehabilitation and widening of 362 meter Brixton (corner Reliance St.) to Fairlane Street, and 565 meter viaduct structure traversing Lawton Avenue onwards to the entrance of Bonifacio Global City.
Once fully completed, travel time between Bonifacio Global City and Ortigas Central Business District will be reduced to 12 minutes.
Place your Ad Here!
Philippine Resources - July 16, 2021
Duterte Opens New Expressway in Central Luzon
Motorists will now be able to use the first 18-kilometer portion of the Central Luzon Link Expressway (CLLEX) from SCTEX/TPLEX connection in Tarlac City up to the intersection of Aliaga-Guimba Road in Aliaga, Nueva Ecija. President Rodrigo Duterte, Department of Public Works and Highways (DPWH) Secretary Mark Villar, Senator Bong Go, and Japanese Ambassador to the Philippines Kazuhiko Koshikawa led on Thursday the inauguration ceremony of the four lanes toll-free expressway project connecting the provinces of Tarlac and Nueva Ecija. The initial part of CLLEX that will be opened are the following sections covered by three contract packages: 4.10 kilometer Tarlac Section, 6.40 kilometer Rio Chico River Bridge Section including the 1.5 kilometer Rio Chico Viaduct, and Aliaga Section with up and down ramps at Guimba-Aliaga Road. This new highway project was implemented by DPWH Unified Project Management Office (UPMO) led by Undersecretary Emil Sadain and Project Director Benjamin Bautista of UPMO Roads Management Cluster 1 (Bilateral) who have worked double-time to deliver the completion of this project. CLLEX is among the key infrastructure projects with funding assistance from the Government of Japan thru the Japan International Cooperation Agency (JICA) in support of the Build, Build, Build program. The entire 30-kilometer expressway project is expected to shorten the usual travel time of 70 minutes between Tarlac City and Cabanatuan City to just 20 minutes. More than just scenic views experienced while you drive and visit the stunning places in Central Luzon, this new highway will help ensure the Philippines’ sustainability and development by addressing barriers in distance and mobility. The Build, Build, Build program continues to deliver its promise of creating infrastructure that improves the lives of Filipinos in the face of the Covid-19 pandemic and other challenges. While Build, Build, Build continued to make progress, it is also setting up the foundation in terms of infrastructure for the next generation.
Philippine Resources - July 16, 2021
Duterte: New Tarlac-Cabanatuan Expressway to Boost PH Economy
By Ruth Abbey Gita-Carlos
Philippine Resources - June 09, 2021
CLLEX up to Aliaga will open this July
Photo Credit: Department of Public Works and Highways Public Works and Highways Secretary Mark A. Villar expressed confidence that the Central Luzon Link Expressway (CLLEX) will be an efficient alternate route for the motoring public going to Nueva Ecija when it opens next month. Despite work slowdown due to the pandemic, the first 18-kilometer segment of CLLEX will be of service to motorists from SCTEX/TPLEX connection in Tarlac City up to the intersection of Aliaga-Guimba Road in Aliaga, Nueva Ecija this July 2021, declared Secretary Villar. Secretary Villar said that contract packages 1 and 2 covering Tarlac Section and Rio Chico River Bridge Section having a combined length of 10.5 kilometers are already completed while construction of 9.2 kilometers contract package 3 - Aliaga Section is 87 percent finished. Secretary Villar together with Undersecretary for Unified Project Management Office (UPMO) Operations Emil K. Sadain and Region 3 Director Roseller Tolentino personally checked on Tuesday, June 8, 2021 the project’s progress which already has an overall accomplishment of 94 percent, making sure that the road is built with quality construction materials and specifications. Construction of the ₱11.811 Billion road project funded by loan with Japan International Cooperation Agency is implemented by UPMO-Roads Management Cluster 1 headed by OIC Project Director Benjamin C. Bautista. In his report to Secretary Villar, Undersecretary Sadain said that the delivery of right of way (ROW) requirements are being fast-tracked, with the assistance of the Office of the Solicitor General (OSG) for expropriation complaints and other ROW-related cases. “We are hopeful that we will finally secure full site possession of the remaining required ROW to allow our construction activities to go on full throttle”, added Undersecretary Sadain. Expropriation proceedings with the appropriate court were initiated for properties whose owners were unable to grant the request to donate or accept price offer for negotiated sale within a given timeframe. More available ROW and favorable weather conditions will enable DPWH to catch up and finish the 10.3-kilometer Contract Package 4 - Cabanatuan Section which is now 88 percent completed. Meanwhile, the Zaragoza Interchange Section under Contract Package 5 is at 26 percent which involves construction of 113 meters Zaragoza Interchange Bridge, 4.88 kilometers access road, two (2) pre-stressed concrete deck girder bridge with a total length of 19.4 meters, five (5) reinforced concrete box culverts for equalizer and farm passage, and seven (7) irrigation canals. Once fully completed, the 30-kilometer CLLEX will shorten the usual travel time of 70 minutes between Tarlac City and Cabanatuan City to just 20 minutes. This new expressway will also form an important east-west link for the expressway network of Central Luzon to ensure a continuous seamless traffic flow for the motoring public from Metro Manila and vice versa passing thru NLEX, SCTEX/TPLEX. Article Courtesy of the Department of Public Works and Highways
Place your Ad Here!
Place your Ad Here!
Philippine Resources - August 05, 2022
NICKEL ASIA CORPORATION ANNOUNCES P3.83B NET INCOME FOR H1 2022, UP 41% YoY
Photo Credit: Arrow Creatives Nickel Asia Corporation, the Philippines’ largest producer of lateritic nickel ore, reported a 41-percent increase in attributable net income for the first semester this year. Based on unaudited financial and operating results for the six-month period ended June 30, 2022, attributable net income increased to P3.83 billion from P2.73 billion while earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 19 percent to P6.33 billion from P5.32 billion the year prior. Despite lower ore volume sold during the period, revenues increased by 7 percent to P11.78 billion from P11.01 billion last year, owed largely to higher nickel ore prices and favorable exchange rates. NAC’s four operating mines sold a combined 6.95 million wet metric tons (WMT) of nickel ore during the first half of the year, down 16 percent from 8.30 million WMT in the same period last year. The drop in sales volume was almost in direct proportion to unrealized workable days caused by inclement weather that adversely affected the Company’s mining operations during the period. The weighted average nickel ore sales price over the first half of year 2022 rose by 18 percent to $30.03 per WMT against $25.54 per WMT in the same period last year. The Company also realized P52.56 per US dollar from these nickel ore sales, a 9-percent increase from P48.25 last year. Breaking down the ore sales, the Company exported 3.12 million WMT of saprolite and limonite ore at the average price of $42.05 per WMT during the six-month period compared to 4.55 million WMT at $37.62 per WMT in the same period last year. Likewise, the Company delivered 3.83 million WMT of limonite ore to the Coral Bay and Taganito high-pressure acid leach (HPAL) plants, the prices of which are linked to the London Metal Exchange (LME) and realized an average price of $12.52 per pound of payable nickel. This compares to 3.74 million WMT at $7.92 per pound of payable nickel in 2021. Expressed in US dollar per WMT, the average price for the deliveries to the HPAL plants were $20.23 and $10.85 in the first half of 2022 and 2021, respectively. “The first half of 2022 was not without its challenges especially for our mining operations, brought about by weather conditions at our mine sites, particularly in Surigao, and continuing lockdowns in China, our major market,” said Martin Antonio G. Zamora, President and CEO. "However, the higher LME nickel price and stronger US dollar tempered the impact on our revenues.” Owing to the higher LME nickel price during the period, NAC also recognized gains from its equity share in investments in the two HPAL plants in the combined amount of P1.09 billion against P244.1 million year-on-year. The stronger US dollar further enabled NAC to log a 353-percent hike in net foreign exchange gains from its foreign currency-denominated net financial assets to P863.5 million from P190.6 million the year prior. Total operating cash costs decreased by 2 percent year-on-year to P5.19 billion from P5.32 billion last year. On a per-WMT sold basis, total operating cash costs increased to P747 per WMT compared to P641 per WMT in 2021. For the Company’s renewable energy business, its subsidiary, Emerging Power, Inc. (EPI) energized in June 2022 another 38-megawatt (MW) solar farm in Subic, Zambales, bringing total capacity on this site to 100MW. For 2022, the Subic plant has been operating at an 18- 19% plant efficiency factor with 90% of generation contracted under power sales agreements. EPI has realized an average tariff of P4.65 per kilowatt hour. EPI has another 100MW service contract for the Subic site and will commence construction of a 68-MW farm in August. Completion is expected by the third quarter of next year. EPI was also chosen by Shell Overseas Investments B.V. to be its exclusive local partner in a solar, onshore wind, and battery storage joint venture that aims to contribute up to 3GW into the Philippines’ renewable capacity. NAC is evaluating a range of financing alternatives including accessing global debt capital markets to raise EPI’s share of the equity required for an initial 1GW target by 2028, among other uses. The Company’s strong financial position will allow it to be opportunistic in evaluating funding options that meet the primary objective of maintaining a flexible low-cost capital structure. “We remain confident that our mining and renewable energy businesses provide a solid foundation on which to realize the OneNAC Vision’s twin objectives, which is to become the premier ESG investment in the country and to be counted among the Top 25 PSE-listed companies in terms of market capitalization by 2025,” said Zamora. Article courtesy of the Philippine Stock Exchange
Philippine Resources - August 04, 2022
Further shallow copper mineralisation identified at MCB
Figure 3. Cross section of drill hole MCB-039 relative to the interpreted geology and significant assay results. We (Celsius Resources) are pleased to announce we have received further shallow and high-grade copper assay results from the ongoing drilling program at our flagship MCB copper-gold project, held under our Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”). The results continue to identify new positions of shallow mineralisation which are in line with other recent drilling results from holes MCB-036, MCB-037 and MCB-038 (see CLA announcements dated 13 December 2021, 23 May 2022 and 4 July 2022 respectively) confirming the presence of an extensive shallow higher-grade position. The results from MCB-039 were designed to further expand the size of the shallow higher-grade copper zones which are considered to have an important positive impact on early mining options at MCB. The current drill hole in progress (MCB-040) is similarly designed to further expand the higher-grade copper mineralisation leading to potential improvements to the economics of the already positive Scoping Study at MCB as reported by Celsius on 1 December 2021. “The results from MCB are continuing to grow the size of the shallow higher-grade copper zones,” said Country Operations Director, Peter Hume. “We are getting much better definition now on the various high-grade zones, which are important for the optimisation of the MCB mine plan. We can see many good high-grade intersections coming together to expand on the earlier understanding of these high-grade zones. Where we get multiple high-grade zones staked on top of each other, we can achieve outstanding results, as recently announced from hole MCB-038 which intersected 611.4m @ 1.39% copper and 0.75g/t gold from 32.5m.” RESULTS FROM MCB-039 Drill hole MCB-039 was drilled to further confirm the interpretation that further shallow high-grade positions exist as a relatively flat body extending into the surrounding host rocks (see Figures 2 and 3). This drill hole was more specifically targeted to fill a gap in the drilling information where there was previously defined lower grade copper mineralisation. The results from MCB-039 have confirmed the further extensions to the higher-grade copper mineralisation as part of a series of relatively flat lying, high-grade zones which are extending away from vertically orientated feeder structures which are all closely related to an intrusive Tonalite rock (Figure 3). Figure 2. Location of MCB-039 drill hole relative to recent and historical diamond drilling at MCB. A large broader envelope of copper mineralisation at a lower cut-off grade at approximately 0.2% copper also continues to be better defined, highlighting the very large scale of the copper-gold mineralisation at the MCB deposit. Table 1: Significant intersections from drill holes MCB-039. Article courtesy of Celsius Resources. Full press release can be found HERE
Philippine Resources - August 04, 2022
Diokno banks on mining for sustained economic recovery, expansion
Photo credit: PNA - Finance Secretary Benjamin Diokno Finance Secretary Benjamin Diokno said the mining industry is a potential source of sustained economic growth as he underscored the benefit of mobilizing investments for mine development. “The mining industry holds the greatest potential to be a key driver in our economic recovery and long-term growth, especially now that world metal prices are high. The Philippines, after all, is one of the world’s most richly endowed countries in terms of mineral resources,” he said Wednesday at the listing of Philex Mining Corporation’s (Philex) common shares in the Philippine Stock Exchange (PSE). Philex is mobilizing investments for the development of its Silangan underground copper-gold mine in Surigao del Norte. In a disclosure to the PSE, the company said it is offering a maximum of 842 million common shares at the rate of one offer share for every 5.8674 shares owned for PHP3.15 each to raise a total of PHP2.652 billion new equity. The stocks rights offering (SRO) period started on July 12, 2022 and ended July 25, 2022. The Silangan project, considered one of the biggest copper-gold mines in the country, is planned to be mined in two phases. The first phase has a mineable ore reserve of 81 million metric tonnes which will be mined for 22 years at a rate of 4 million tonnes per year. The mine is targeted to commence commercial operations in the first quarter of 2025. Diokno said Philex’ SRO listing demonstrates the mining industry’s confidence in the country’s promising economic growth prospects. He said the offering means more jobs will be created, local economies will be reinvigorated, and additional revenues will be contributed to the government. The Department of Finance (DOF) estimates that the project will generate around PHP8.5 billion in excise taxes alone for its entire mine life. Diokno said the listing sends a strong signal to the mining industry that the country's capital markets are viable instruments for fast tracking the development of large mining projects. He said the Marcos administration is committed to continue creating an enabling environment for mining activities to flourish in the country as he looks forward to similar listings in the future. “We recognize that apart from boosting local development, mining is a strong magnet for investments that can propel our economy into a higher growth trajectory,” he added. Diokno said the government expects the mining industry to strictly adhere to responsible and sustainable mining practices. He said the mining industry should strike a balance between protecting the environment, uplifting local communities, and supporting the government’s socioeconomic agenda. “This is a non-negotiable condition so we can guarantee the sustainability of the industry and the strong economic growth of its host communities,” he said. Article courtesy of the Philippine News Agency
Place your Ad Here!