In a boon for mining in the Philippines, Finance Secretary Benjamin Diokno has earmarked the sector as a source for long-term economic growth amid the pandemic. As reported in business publication, Rappler, Mr. Diokno said: “The mining industry holds the greatest potential to be a key driver in our economic recovery and long-term growth, especially now...
Photo credit: Apex Mining Apex Mining’s total revenue for the second quarter of 2022 reached PHP2.537 billion, 65% higher year over year (YoY). This pegs the resulting consolidated net income after tax of the company at PHP917.6 million, a 337% increase YoY. “This consolidated quarter net income is an an all-time high for Apex Mining,” says Apex Min...
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 billi...
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 Mini...
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 g...
Photo credit: PH Stocks Integrated energy company Semirara Mining and Power Corporation (SMPC) posted P10.8 billion in second-quarter net income, 171 percent better than the P4 billion reported last year. All-time high coal selling prices coupled with higher spot electricity sales volume at elevated prices accounted for the upsurge. From January ...
Photo: Group photo of the participants after the MGB Management approved the Capstone Project (CP) for implementation during CP Orientation on July 12, 2022 With the start of online transactions, the Mines and Geosciences Bureau (MGB) is currently developing a system that will serve as a digital platform for the submission of the compliances by the min...
Atlas Consolidated Mining and Development Corporation (“Atlas Mining”) completed the first half of the year 2022 with a reported net income of Php2 billion compared to the net income of Php1.935 billion for the same period in 2021. The improvement in the bottom line is attributed to the considerable increase in grades and metal prices during the first hal...
Photo credit: Provincial Government of Ilocos Norte logo Ilocos Norte is set to recognize the public and the private sector’s initiatives and exemplary achievements in promoting responsible mining. Provincial administrator Yvette Convento-Leynes confirmed this on Monday as she reported that the awarding of outstanding partners is set on July 27 in t...
Mines and Geosciences Bureau (MGB) announced on 10 March 2022 that the DENR has granted MPSA 352-2022-VI to DMCI Holdings, Inc., a subsidiary of Semirara Mining and Power Corp. (SMPC). The MPSA is for SMPC’s Hamalian Limestone Project which is located at Semirara Island in Caluya, Antique. The project covers an area of 3,807.0571-hectares. This MPSA now g...
Last June 3, 2022, Gov. Tamayo announced in a public statement his decision to veto Ordinance No. 23, Series of 2022 that was passed by the Sanggunian Panlalawigan (SP) (or Provincial Board) of South Cotabato last May 16, 2022. The ordinance modified the Provincial Environmental Code of South Cotabato and lifted the ban on open-pit mining in the province....
What does it take to own and operate a mining company in the Philippines? Mining is one of the industries that heavily revolves around a number of laws and regulations. On Day 2 of the Philippine Mining Virtual Summit (17 March 2022), Atty Dennis A. Quintero of the Quisumbing Torres Law Office was one of the presenters. Atty Quintero gave a comprehensi...
Photo credit: Celsius Resources Celsius Resources is pleased to announce that the Philippine Mines and Geosciences Bureau (MGB) has granted a six month extension to the exploration permit for the Sagay Copper-Gold Project, extending the permit term up to February 2024. The Sagay Project is held under Celsius’ Philippine subsidiary Tambuli Mining Com...
Photo credit: Celsius Resources We are pleased to announce we have received outstanding large scale and high-grade assay results from the ongoing drilling program at our flagship MCB copper-gold project, held under our Philippine subsidiary Makilala Mining Company, Inc. (“MMCI”). Highlights Intersection of 611.4m @ 1.39% copper and 0.75g/t go...
Philippine Resources Journal congratulates our very own columnist, Atty Fernando “Ronnie” S. Penarroyo, for his recent appointment as the new Chairperson for the Professional Regulatory Board for Geology (PRB Geology). For several years now, Atty Penarroyo has been one of the main contributors in our publication. He specializes in Energy and Resources ...
Photo credit: Celsius Resources Celsius Resources is pleased to announce it has received results from 3 drill holes confirming shallow extensions to the large-scale copper mineralisation previously discovered at its Sagay Project held under its Philippine subsidiary Tambuli Mining Company, Inc. “The copper mineralisation covers a huge area at Saga...
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