DPWH EYES FINANCING, TECHNICAL SUPPORT FROM WORLD BANK FOR SULU DEVELOPMENTAL PROJECTS
by Philippine Resources - July 11, 2022
Photo credit: The Department of Public Works and Highways
The Department of Public Works and Highways (DPWH) is exploring the opportunity to tap financing and technical support from World Bank for its proposed Infrastructure Development Plan for Greater Metropolitan Sulu.
In his report to Secretary Manuel M. Bonoan, Undersecretary for Unified Project Management Office (UPMO) Operations Emil K. Sadain said that World Bank has expressed interest to provide funding support to DPWH-proposed infrastructure projects in Sulu aimed at reviving the status of the province of Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) as a main economic and trade hub not only for Mindanao but for the Philippines.
Undersecretary Sadain and Dr. Ndiamé Diop, World Bank Country Director for the Philippines, Malaysia, Thailand and Brunei, met on July 7, 2022 and discussed ways to further strengthen cooperation on planned developmental projects specifically roads and bridges; water supply system; sanitation development; and urban renewal at coastal communities.
The World Bank executive reaffirmed the Bank’s support to DPWH initiatives that will address Sulu’s need for clean water and proper sanitation, opportunity to improve transportation facilities that will also benefit delivery of agricultural products, development and promotion of various heritage and tourism potentials, building of sustainable communities and eventual decline of armed conflict due to available and improved economic opportunities.
“I am grateful to the World Bank for showing the desire to partner anew with DPWH on projects that will help in the food security program, raise living standards of people, and in advancing economic transformation of Sulu”, Secretary Bonoan said.
Other than Undersecretary Sadain and Dr. Diop, the meeting at the DPWH Central Office was attended by DPWH UPMO Project Directors Ramon Arriola III and Sharif Madsmo H. Hasim; Project Manager Shirley Castro; and World Bank Sector Leader for Sustainable Development for the Brunei, Malaysia, Philippines and Thailand (BMPT) Program Ms. Madhu Raghunath together with Ma. Fiorella Fabella, Mavi Ladia, and Hope Gerochi.
Pursuant to Section 37 Article 13 of the Bangsamoro Organic Law, DPWH is committed to bringing development in the Bangsamoro Autonomous Region specifically in the construction and maintenance of national roads and bridges, water supply services, and flood control and irrigation system.
“By coming up with several infra projects, community-driven development and social services, the aspirations of the people of Sulu who have suffered from decades of conflict and underdevelopment will be addressed with positive change in terms of employment and opportunities to escape poverty”, said Undersecretary Sadain, DPWH Alternate Representative and Focal Person for BARMM.
Proposed DPWH - World Bank partnership for Sulu has the following scope of activities: preparation of a detailed engineering design, conduct of civil works and construction supervision for Sulu Mainland Water Supply Project; preparation of a feasibility study, detailed engineering design, conduct of civil works and construction of Jolo Sanitation Development Program; preparation of detailed engineering design, conduct of civil works, and construction supervision for the 161-kilometer Sulu Circumferential and 77-kilometer Transcentral Roads, and additional 42-kilometer loop roads; preparation of master plan and feasibility studies, detailed engineering design, and conduct of civil works and construction supervision for Urban Renewal Program at Coastal Communities.
Under DPWH Department Order 87, Sulu Circumferential Road in the first and second legislative districts was recently converted into national road under the jurisdiction of DPWH thru the Regional Project Management Office – BARMM and Regional Office 9.
Article courtesy of The Department of Public Works and Highways
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Philippine Resources - September 22, 2021
DPWH SIGNS 2 HISTORIC AGREEMENTS WITH BARMM
Photo credit: The Department of Public Works and Highways The Department of Public Works and Highways (DPWH) has re-affirmed its support to the government of Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) with the signing of two (2) agreements at DPWH Central Office in Manila. DPWH Secretary Mark Villar and Ministry of Public Works (MPW)-BARMM Minister Eduard U. Guerra signed on Monday, September 20, 2021 the memorandum of agreement (MOA) to turn-over the DPWH Cotabato City District Engineering Office to the auspices of the BARMM and the interim implementation arrangements/protocols of various infrastructure projects of the national government in Bangsamoro. Other signatories as witnesses of these agreements are DPWH Undersecretary for Unified Project Management Office (UPMO) Operations Emil K. Sadain who is also the Focal Person for BARMM Infra Projects and alternate representative in the Inter-Agency Task Force Bangon Marawi, and MPW-BARMM Director General Danilo A. Ong. The event was also attended by MPW-BARMM Deputy Minister Abdul Maomit M. Tomawis and DPWH Region 12 Legal Division Chief Atty. Jahara Ali-Macadato while others participated virtually via zoom including Bangsamoro Government Chief Minister Ahod B. Ebrahim and Senior Minister Abdulraof A. Macacua; DPWH Undersecretaries Ardeliza R. Medenilla and Eugenio R. Pipo Jr.; DPWH Assistant Secretary Ador Canlas; Assistant Secretary Wilben M. Mayor of the Office of the Presidential Adviser on the Peace Process; DPWH UPMO Project Directors; DPWH Regional Directors in Regions 9, 10 and 12; MPW District Engineers; and other Bangsamoro parliament members. With the inclusion of Cotabato City under BARMM, DPWH officially transfer the DPWH Cotabato City District Engineering Office land, building, equipment, and assets located in Barrio Kakar, Cotabato City to the jurisdiction of MPW-BARMM pursuant to Republic Act 11054 or An Act Providing for the Organic Law for the BARMM. However, a Project Management Office (PMO) for Maguindanao is created to handle implementation of various DPWH national projects within the Province of Maguindanao inclusive of Cotabato City. The other agreement covers the two (2)-year implementation arrangements/protocols of infrastructure projects of the national government in the BARMM. Under the interim implementation arrangement, the DPWH is tasked to lead in the identification of various national infrastructure projects in BARMM, in coordination with MPW. The MPW may recommend and initiate request of proposed flagship projects directly to the BARMM government parliament for funding and consideration. DPWH is however required to furnish MPW copies of all approved report/studies, plans, annual procurement plan, procurement monitoring report, and list of contracts awarded with name of contractor of all DPWH projects in BARMM. MPW shall also be notified and invited as observers in pre-bid conferences, pre-construction conference of DPWH projects in BARMM and be assisted in capability development in matters related to procurement. Quarterly coordination meeting shall also be conducted between two (2) parties for the evaluation of the projects under the national government. During the construction, the DPWH Regional Office or PMO that will handle the direct implementation of all national infra for BARMM funded by the General Appropriations Act (GAA) shall furnish project progress to MPW, and invite the latter on final inspection of projects. The MPW may conduct an independent project monitoring of completed projects. The maintenance of national roads and bridges shall also be under the national government in close coordination with the BARMM. Minor maintenance works and emergency/disaster response in BARMM can be delegated by the DPWH to the MPW through a separate MOA. On foreign-assisted projects, DPWH-UPMO headed by Undersecretary Sadain shall remain the lead in coordination with MPW. This interim agreement is effective for a period of two (2) years upon approval or until such time that the Regional Project Management Office and PMOs for Bangsamoro are created and fully-operationalized. Article courtesy of The Department of Public Works and Highways
Philippine Resources - October 18, 2021
MERCADO FORMALLY TAKES DPWH POST
Photo credit: Department of Public Works and Highways The newly appointed Head of the Department of Public Works and Highways (DPWH) has formally assume the agency leadership. Former Secretary Mark A. Villar handed over the stewardship of DPWH to Acting Secretary Roger G. Mercado during the turnover ceremony on October 14, 2021 at the DPWH Central Office, Bonifacio Drive, Port Area, Manila. Appointed by President Rodrigo R. Duterte on October 12, 2021 replacing Secretary Villar who stepped down to run in the 2022 elections, Secretary Mercado prior to his new post was the 18th Congress’ Public Works and Highways Committee Vice Chairperson. The 44th Secretary of the DPWH is a lawyer by profession who hails from Maasin City, Southern Leyte and is known for his Tourism, Environmental Protection, and Agriculture (TEA) Programs in his province as then Southern Leyte lone district Representative. “It is an honor to work with the professional men and women of DPWH and to be able to continue oversee the completion of Department’s flagship infrastructure programs and projects”, said Secretary Mercado. “I vow to sustain the current momentum in the Department so we can deliver more high-impact projects that will benefit the Filipino people including those living in remote communities”, Secretary Mercado added. Article courtesy of Philippine News Agency
Philippine Resources - June 15, 2021
Work on BGC-Ortigas Link Road Enters Homestretch Phase
Photo Credit: Department of Public Works and Highways The Department of Public Works and Highways (DPWH), which has reached a major milestone with the Independence Day opening of 440-meter Kalayaan Bridge connecting Pasig City with Makati City, enters the final stages of fully completing the Bonifacio Global City (BGC)-Ortigas Center Link Road Project. DPWH Secretary Mark Villar, on the day the new Sta. Monica-Lawton Bridge now dubbed Kalayaan Bridge across Pasig River was opened to motorists during the 123rd celebration of Philippine Independence, declared that the next goal is to finish the entire BGC-Ortigas Center Link Road Project towards the last quarter of 2021. Secretary Villar said that once this BGC-Ortigas Center Link Road Project is fully complete and open, about 20 percent of the traffic volume of EDSA and C-5 Road can be accomodated. The Kalayaan Bridge, the viaduct structure and coupled with our road widening and rehabilitation works will create much better traffic flow to get through BGC and Ortigas business districts quicker, added Secretary Villar. In his report to Secretary Villar, Undersecretary for Unified Project Management Office (UPMO) Operations Emil K. Sadain said that the construction of 565-meter Lawton Avenue – Global City Viaduct which is another component of the 1.367 kilometer BGC-Ortigas Center Link Road Project has already reached the Kalayaan Avenue intersection. Simultaneous to the final finishing activities for the Kalayaan Bridge and the up and down ramps to Kalayaan Avenue, construction of the viaduct structure from Lawton Avenue, Makati City moved quickly and will soon be connected to the entrance of Bonifacio Global City’s 8th Avenue, added Undersecretary Sadain. Assessment of the (4) lane viaduct construction project was conducted by Undersecretary Sadain together with UPMO Roads Management Cluster 1 Project Directors Virgilio C. Castillo and Benjamin A. Bautista, Project Manager Ricarte S. Mañalac, Project Engineer Emmanuel Regodon, and Engr. Reynaldo Perez of Persan Construction Inc. Now that the viaduct is about to reach the BGC side, the DPWH UPMO team is continuously coordinating with partner stakeholders so that the work that needs to be done is as efficient as possible to finish the viaduct overpass, connect with the roadway and get it open by this last quarter. Article courtesy of the Department of Public Works and Highways
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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
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