Team Completes Comprehensive Validation of HMC-Tagana-an Nickel Project’s 2025 EPEP Performance 

Demonstrating its unwavering commitment to responsible mining and environmental stewardship, the Multi-partite Monitoring Team (MMT) convened from January 27 to 30, 2026, to conduct a comprehensive validation of the Environmental Protection and Enhancement Program (EPEP) implementation of Hinatuan Mining Corporation – Tagana-an Nickel Project (HMC-TNP). 

The four-day activity focused on evaluating the project’s EPEP accomplishments for the third and fourth quarters of 2025, including a thorough assessment of the company’s overall environmental performance and compliance initiatives for the entire year. 

Throughout the validation process, the MMT conducted extensive field inspections across key operational and environmental management areas within the project site. These included mining operation zones, waste management facilities, reforestation and rehabilitation sites, and water quality monitoring stations strategically located within the project’s coverage area. 

The team carefully verified the implementation and effectiveness of environmental protection measures designed to minimize ecological impacts, ensure regulatory compliance, protect biodiversity, conserve natural resources, and promote environmental sustainability in neighboring communities. The validation also highlighted the company’s continuing efforts to integrate environmental responsibility into its operational framework while maintaining alignment with national and local environmental standards. 

The activity fostered meaningful collaboration and active engagement among HMC-TNP management and staff, government agencies, civil society organization, and local stakeholders. The MMT was represented by the following member agencies and organizations: 

1. Mines and Geosciences Bureau (MGB) Region XIII – Chairperson 

2. Environmental Management Bureau (EMB) Region XIII – Co-Chairperson 

3. DENR CENRO/CDD – Member 

4. DENR PENRO – Member 

5. DENR CENRO – Member 

6. Department of Health (DOH) – Member 

7. REACH Foundation – Member 

8. Our Lady of Mt. Carmel Parish Church – Member 

9. MENRO-Tagana-an – Member 

10. BLGU-Talavera – Member 

The successful conduct of the validation underscores the importance of a multi-stakeholder approach in advancing responsible and sustainable mining practices. By working collectively, the MMT and HMC-TNP reaffirm their shared commitment to ensuring that economic development progresses hand in hand with environmental protection, community welfare, and long-term ecological sustainability. 

As environmental challenges continue to evolve, sustained implementation of the EPEP remains essential in safeguarding natural resources and creating lasting positive impacts for present and future generations. 

Global Ferronickel Holdings Inc., or FNI, reported a 169.6-percent increase in first-quarter net income attributable to shareholders, driven by higher nickel ore prices and increased shipment volumes from its Palawan operations.

The Philippine-listed nickel ore producer said net income for the January-to-March period rose to ₱478.0 million from ₱177.3 million a year earlier, while earnings per share improved to ₱0.0935 from ₱0.0346.

Revenue increased 36.4 percent to ₱1.646 billion from ₱1.205 billion in the same period last year.

FNI said total nickel ore shipments from its Palawan operations rose 8.9 percent to 550,632 wet metric tons from 505,459 wet metric tons in the first quarter of 2025. The company said the current quarter’s sales mix consisted of 80 percent medium-grade and 20 percent low-grade nickel ore, compared with entirely medium-grade shipments a year earlier. All shipments were sold to customers in China.

The average realized nickel ore price increased 23 percent to US$50.57 per wet metric ton from US$41.13 per wet metric ton, supported by tighter nickel ore supply due to quota restrictions in Indonesia and elevated industry costs linked to geopolitical tensions in the Middle East.

President Dante R. Bravo said the company’s Palawan operations delivered a strong start to the year.

“Our Palawan operations delivered a strong start to the year, supported by continued operational optimization, enhanced mine planning, and disciplined execution across our operations,” Bravo said.

Cost of sales rose 2.2 percent to ₱544.2 million from ₱532.3 million, reflecting higher production and shipment volumes. Operating expenses, including excise taxes, royalties, general and administrative expenses, and shipping and distribution costs, climbed 22.4 percent to ₱530.2 million.

FNI said the increase in operating costs was largely due to higher excise taxes and shipping expenses associated with increased shipment volumes.

The company also said it continued implementing sustainability and operational resilience initiatives during the quarter, including the deployment of electric dump trucks and the production of 31,500 seedlings for rehabilitation activities.

Bravo said the company expected further growth as mining operations in Surigao resumed in the second quarter.

“With the start of the Surigao mining season in the second quarter of 2026, we expect to further build on the strong momentum started by our Palawan operations and accelerate overall performance for the year,” he said.

SITE PROFILE

The Delta BAAC Project, located in Rizal, Philippines, is a basalt quarrying operation owned by Helix Aggregates, Inc. with Delta Earthmoving, Inc. as the principal client. Orica serves as the blasting contractor under Delta and has been delivering services at the BAAC site since 2009.

The project operates under a Total Loading Services (TLS) contract for blasting operations in the East Wall and Rock-OnGround (ROG) for bulk emulsion blasts in the New North Wall. Orica oversees the entire blasting process in both areas.

THE SITUATION

The Blast Exclusion Zone (BEZ) for personnel applied on site was variable and dependent on proximity to nearby communities. The North Wall BEZ was typically set at 500 meters. The East Wall required a dynamic BEZ due to proximity to Sunflower village. The BEZ was adjusted based on the design stemming height and maximum instantaneous charge (MIC).

Blasts were initiated using an Exel™ Lead-In-Line (LIL) laid toward the blasting shelter, where the Shotfirer took position for protection against potential flyrock. The blasting shelter was usually towed with a loader between the two blasting areas and relocated in accordance with the BEZ indicated on the blast map.

Records indicated an annual average of one to two misfire incidents related to the starter and primer used to fire the lead-in-line. Root causes included:

• Moisture in the starter.
• Misalignment of the firing pin in the starter.
• Soot accumulation in the firing chamber, inhibiting signal transmission.
• Occasional defective shotshell primers.

As a corrective measure, the site ensured redundancy by maintaining spare starters and shotshell primers.

Operational safety during lead-in-line deployment was a concern. Personnel were exposed to hazards such as:

• Unplanned initiation due to snap slap and shoot, or signal tube impact from rock fall near active highwalls.
• Vehicle interactions during the evacuation and blast clearance;
• Fall from height hazards in case of multiple bench blasting, particularly when accessing upper or lower elevations with uneven floors or near the crest/free face.

TECHNICAL SOLUTIONS

To address the operational and safety challenges associated with non-electric lead-in-line, Orica Technical Services explored the feasibility of a remote initiation system.

The uni tronic™ 600 Remote Firing System was selected for its proven capability to initiate electronic detonators as starters for non-electric blasts, from a safe, remote location. The system enables secure initiation up to two kilometers from the blast site, with extension to five kilometers using an improved antenna – making it suitable for sites with variable terrain or visual obstructions.

To assess suitability and signal strength, multiple radio frequency (RF) tests were conducted on-site with the controller positioned at the new view deck. Inert training detonators were positioned at various active blast locations within the quarry. All tests confirmed 100% reliable initiation.

THE RESULT

On the 17th of October 2024, the first uni tronic™ 600 remotely fired blast was successfully implemented at the B+110 East Wall quarry. This served as the first successful remote firing in a quarry project nationwide, setting a precedent for future site implementations.

The following key benefits were observed with the uni tronic™ 600 Remote Firing System:

• All blasts were initiated from locations beyond the designated BEZ;
• Personnel exposure to high-risk areas during firing line setup was significantly reduced. All wired connections were less than 50m.
• There was no requirement to deploy wires near crests, highwalls or across haul roads.
• Approximately half an hour of operational time was saved per blast through remote firing, equivalent to the time required to relocate the blast shelter with a loader. The loader was able to remain working at the stockpile area without disruption.
• There have been zero initiation incidents since the implementation. With the support of an improved antenna, the radio frequency signal was maintained consistently at 100%, providing reliable initiation.

TESTIMONIAL

“uni tronic 600 reduces the risk of accidents and injuries. Based on my own experience here on our site, the uni tronic 600 significantly streamlines the process by eliminating the need for manual relocation of blasting shelters to a safe distance, thereby using this as a cost-cutting measure that saves both time and resources. Unlike previous technologies that require an extensive setup, the uni tronic 600 allows for quick and precise remote operations.” Leo Dayaoen, Supervisor II Delta Earthmoving, Inc.

“We were looking forward to using remote firing with uni tronic™ 600 here at HAI. When I started, I was only familiar with the LIL system, which may put the shotfirer at risk due to the safe firing location being limited by the length of the LIL. Remote firing not only improves safety by allowing blasts to be initiated from a greater distance, but it also provides better assurance in terms of misfires by ensuring that all detonators are working and ready for blasting.” Duane Anthony Agulay, Quarry Engineer Helix Mining and Development Corporation.

ACKNOWLEDGEMENTS

Orica extends its warmest gratitude to Delta Earthmoving Inc. and Helix Mining Development Corporation for their unwavering support towards safe practices and continuous improvement through Orica’s technology. Author : Ericka Mae Penido, Donald Rivo, Vincent Buccat Date : September 2025

DISCLAIMER

© 2025 Orica Group. All rights reserved. All information contained in this document is provided for informational purposes only and is subject to change by the Orica Group without prior notice. Because the Orica Group cannot anticipate or control the conditions under which this information and its products and/or services may be used, each user must independently review and evaluate the information in the specific context of the intended application. To the maximum extent permitted by law, the Orica Group specifically disclaims all warranties express or implied in law, including accuracy, non-infringement, and implied warranties of merchantability or fitness for a particular purpose. The Orica Group specifically disclaims, and will not be responsible for, any liability or damages resulting from the use or reliance upon the information in this document. The word Orica and the Ring device are trademarks of the Orica Group.

Apex Mining Co. Inc. (APX) reported a 94-percent increase in consolidated net income for the first quarter of 2026, driven by significantly higher gold prices despite lower sales volumes and weaker ore grades.

In a disclosure, the listed mining company said consolidated net income reached P2.82 billion in the January-to-March period, up by P1.37 billion from P1.45 billion recorded in the same quarter last year.

Gold sales volume during the quarter fell by 20 percent to 20,354 ounces from 25,362 ounces a year earlier. However, the average realized gold price surged to $4,909 per ounce from $2,953 per ounce in the first quarter of 2025, supporting the company’s earnings performance.

Ore gold grade at the Maco Mine in Davao de Oro also declined during the quarter, averaging 2.43 grams per tonne compared to 3.16 grams per tonne in the same period last year.

Apex Mining President and Chief Executive Officer Luis Sarmiento said the lower average grade was due to lean zones encountered during mining operations.

“Once completed, this tunnel will provide access to deeper ore blocks while improving water and ventilation systems, thereby enhancing the working environment and safety of our miners as we work in the lower levels where higher-grade deposits are expected to be located,” Sarmiento said, referring to the ongoing construction of the Tagbaros Drain and Ventilation Tunnel.

The company said it expects to incur significant capital expenditures over the next few years, mainly to increase production capacity at the Maco Mine and develop the copper project of Asia-Alliance Mining Resources Corp.

Apex Mining said the copper project under Asia-Alliance is estimated to require around $300 million in capital expenditures, including plant development and construction costs, with spending expected to be distributed evenly over the next three years before commercial operations begin.

Meanwhile, the ongoing expansion of the Maco Mine from 3,000 tonnes per day to 3,500 tonnes per day is expected to cost approximately P100 million and forms part of the company’s regular capital expenditure program.

According to Apex Mining, strong cash inflows, a solid asset base, and good credit relationships with local banks provide flexibility to fund these projects.

Sarmiento also said the company remains operationally stable despite the ongoing US-Iran conflict, noting that fuel costs account for only around 4 percent to 5 percent of total production costs.

“We also continue to identify and develop reliable alternative sources of fuel to mitigate the potential impact of the volatility in oil prices and supply on our operations,” he said.

Apex Mining operates the Maco Gold Mine in Davao de Oro, while its wholly owned subsidiary Itogon-Suyoc Resources operates the Sangilo Mine in Benguet.

The Philippines highlighted its strategy for developing a sustainable and investment-friendly critical minerals sector during the OECD Critical Minerals Forum held on April 28–29 at the OECD Istanbul Center.

The Department of Environment and Natural Resources (DENR) and the Mines and Geosciences Bureau (MGB) joined the Philippine delegation at the forum, which brought together OECD members, partner countries, private sector representatives, and civil society groups to discuss resilient critical mineral supply chains amid rising global demand driven by the energy transition and digitalization.

Representing the Philippines were Philippine Ambassador to Türkiye Jaime Ramon Ascalon Jr., Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo, DENR Assistant Secretary Michael V. Cabalda, MGB Supervising Geologist Anne Karla M. Navarro, and Philippine Trade and Investment Center Commercial Counsellor Katrina Banzon.

The forum focused on opportunities and challenges surrounding the development of secure and sustainable supply chains for critical minerals, which are increasingly viewed as essential to clean energy technologies, electric vehicles, and digital infrastructure.

Discussions also emphasized the importance of partnerships among governments, businesses, civil society organizations, local communities, and international stakeholders in ensuring responsible critical minerals development and strengthening supply chain resilience.

Participants noted that global mineral markets are increasingly shifting away from purely volume-based extraction toward responsible, traceable, and investment-grade supply chains.

During high-level panel discussions on investment opportunities and Southeast Asian perspectives on critical minerals development, Rodolfo outlined what he described as the “four Ps” necessary to create an enabling environment for the sector: policies, permits, partnerships, and projects.

According to the Philippine delegation, the forum discussions underscored both the opportunities available to resource-rich countries such as the Philippines and the structural challenges that must still be addressed to attract greater investment into the country’s critical minerals industry.

The Philippines is seeking to position itself as a key player in global critical mineral supply chains as international demand for minerals used in renewable energy systems and advanced technologies continues to grow.

Listed natural resources development company Nickel Asia Corp. (NAC) reported a 26-percent decline in attributable net income for the first quarter of 2026, although the company said core earnings improved amid stronger nickel prices and continued expansion in its renewable energy business.

Attributable net income, net of minority interest, fell to P371.77 million in the three months ended March 31 from P501.03 million in the same period last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) declined to P1.35 billion from P1.55 billion previously.

Nickel Asia said first-quarter earnings in 2025 included a one-time gain of P800.49 million from the sale of its 15.625-percent stake in Coral Bay Nickel Corp. Excluding the gain, the company said attributable net loss in the comparable quarter last year would have been P25.55 million, resulting in a significant year-on-year turnaround on a core earnings basis.

Revenues from the sale of saprolite and limonite ore rose 3 percent to P2.42 billion from P2.36 billion, despite a 9-percent decline in ore sales volume to 2.27 million wet metric tons from 2.48 million WMT a year earlier.

The weighted average ore price increased 10 percent year-on-year to $18.03 per WMT from $16.40 per WMT, while the average exchange rate realized from sales improved 2 percent to P59.19 per US dollar from P57.85.

Saprolite ore exports totaled 0.56 million WMT at an average price of $35.63 per WMT during the quarter, compared with 0.66 million WMT at $36.60 per WMT in the same period in 2025.

Meanwhile, limonite ore deliveries to the company’s affiliated high-pressure acid leach plants reached 1.71 million WMT, sold at an average realized price of $7.87 per pound of payable nickel, equivalent to $12.29 per WMT.

Nickel Asia’s renewable energy subsidiary, Emerging Power Inc. (EPI), recorded strong growth during the quarter. Generation rose 63 percent year-on-year to 95,831 megawatt-hours from 58,857 MWh, while EBITDA surged 130 percent to P267 million from P116 million.

The company attributed the increase to the additional 120-megawatt peak capacity from Phase 1 of the San Isidro solar project in Leyte, which began testing and commissioning in October 2025.

Nickel Asia said Phase 1 of the San Isidro project is on schedule to begin commercial operations this quarter, while Phase 2, with another 120-MWp capacity, is targeting testing and commissioning within the third quarter.

The company is also advancing other renewable energy projects, including the Botolan solar project in Zambales, the Subic-Cawag solar facility and the Nazareno solar project in Bataan.

In exploration, Cordillera Exploration Company Inc., NAC’s joint venture with Sumitomo Metal Mining Co. Ltd., reported additional copper-gold and epithermal gold mineralization intercepts at the Cordon project in Isabela.

Nickel Asia also disclosed that it entered into an agreement on April 22 to acquire a 20-percent membership interest in Kazakhstan-based East Copper Production LLP, which owns GRK MLD LLP and the Karchiga copper mine.

The Karchiga mine, located within the Central Asian Copper Belt, has an annual production capacity of 8,500 tons of copper sulfide concentrate and 2,000 tons of copper cathode.

NAC President and Chief Executive Officer Martin Antonio G. Zamora said the company remained optimistic about the nickel market despite global economic uncertainties and geopolitical tensions.

“We are seeing a shift in nickel market fundamentals, driven largely by recent developments in Indonesia, including changes to benchmark pricing, tighter production quotas, alongside increasing input costs for HPAL operations, such as sulphur,” Zamora said.

“As our mining operations ramp-up in the second quarter, we remain confident in a stronger performance for the year, supported by the current strength in nickel prices,” he added.

Indonesia and the Philippines are moving to strengthen regional cooperation in the nickel industry through the proposed Indonesia-Philippines Nickel Corridor, aimed at reinforcing critical mineral supply chains and expanding industrial collaboration across Southeast Asia.

The initiative was highlighted during a high-level business roundtable led by the Indonesian Chamber of Commerce and Industry and the Philippine Chamber of Commerce and Industry on the sidelines of the 48th Asean Summit in Cebu province.

The discussions coincided with Indonesian President Prabowo Subianto’s official visit to the Philippines for the regional summit, where business leaders from both countries tackled emerging geoeconomic challenges and opportunities.

Bernardino Moningka Vega, deputy chairman for foreign relations at the Indonesian Chamber of Commerce and Industry, said the proposed nickel corridor could serve as a new model for regional economic partnerships focused not only on commodity trade but also on strengthening industrial value chains.

“In line with this year’s ASEAN-Philippines theme, ‘Navigating Our Future, Together,’ the Kadin Indonesia-PCCI high-level forum has laid out a roadmap not only for bilateral cooperation but also for making the ASEAN region better prepared to face current geoeconomic realities,” Vega said.

Under a memorandum of understanding signed by the Indonesian Nickel Miners Association and the Philippine Nickel Industry Association, both sides agreed to collaborate on the exchange of nickel-related data and information, policy and regulatory dialogue, cross-border investment promotion, development of environmental, social and governance methodologies, and human resource capacity building in the nickel sector.

Indonesia and the Philippines are among the world’s largest nickel producers and hold significant global reserves of the mineral, which is a critical component in electric vehicle batteries and energy storage technologies.

By 2025, Indonesia is projected to produce around 2.6 million metric tonnes of nickel, while the Philippines is expected to produce approximately 270,000 metric tonnes. According to 2025 estimates from the United States Geological Survey, the two countries together could account for around 73.6 percent of global nickel mining production.

Indonesia is estimated to hold around 62 million metric tonnes of nickel reserves, while the Philippines has an estimated 4.8 million metric tonnes.

For Indonesia, the partnership is expected to help secure raw material supplies for its growing downstream nickel processing industry. For the Philippines, the collaboration is seen as an opportunity to increase industrial value-added through regional processing initiatives and investment flows.

The forum also resulted in agreements involving agricultural technology cooperation and aviation maintenance partnerships between Garuda Maintenance Facility and JAR Aviation Services, with an indicative value of US$80 million.

In addition, plans were announced for the development of a nickel processing facility in the Philippines involving Agro Investama Group, RBN Solutions Inc. and Ploutus Inc. The project aims to support the regional battery and electric vehicle supply chain.

The proposed facility is expected to receive a minimum monthly nickel supply of 200,000 metric tonnes beginning in June 2026 to support regional manufacturing requirements.

Philippine Chamber of Commerce and Industry president Ferdinand Ferrer said the collaboration marked an important step towards deeper integration between the two countries in the critical minerals sector.

“Asean is strongest when it acts as one unit. And at the heart of this unity is the very strong bilateral relationship between Indonesia and the Philippines, with a combined population of nearly 400 million,” Ferrer said.

Reaffirming a shared commitment to environmental protection and sustainable resource management, the Department of Environment and Natural Resources (DENR) Region XIII (Caraga), in partnership with Hinatuan Mining Corporation – Tagana-an Nickel Project (HMC-TNP), successfully conducted a training program for accredited Deputy Environment and Natural Resources Officers (DENROs) from March 31 to April 1, 2026, at the HMC-TNP mine site.

The two-day training formed part of the DENRO accreditation renewal process and served as an important capacity-building initiative aimed at strengthening participants’ knowledge, competence, and effectiveness in enforcing environmental laws and safeguarding natural resources within their respective areas of responsibility.

Resource speakers from DENR Region XIII — Mr. Samuel L. Malayao (DMO IV), Mr. Francis M. Mansalay Jr. (DMO III), and Ms. Jenny Mae M. Cullantes (Forester) — shared valuable insights and expertise on key environmental laws, policies, and enforcement mechanisms essential to forest protection and environmental governance.

Key topics discussed during the training included:

• Presidential Decree No. 705 – Revised Forestry Code of the Philippines
• DENR Administrative Order (DAO) 97-33 – Rules for the Administrative Adjudication of Illegal Forest Products and Machinery Confiscated or Seized from Violators of Forestry Laws, Rules, and Regulations
• Republic Act No. 9147 – Wildlife Resources Conservation and Protection Act
• Republic Act No. 9175 – Chainsaw Act of 2002
• Executive Order No. 23 – Moratorium on the Cutting and Harvesting of Timber in Natural and Residual Forests and the Creation of the Anti-Illegal Logging Task Force

The activity highlighted the critical role of DENROs as frontliners in environmental law enforcement, forest protection, wildlife conservation, and the prevention of illegal environmental activities. Through continuous education and skills enhancement, the training aims to empower DENROs to become more effective environmental advocates and partners in promoting ecological sustainability.

This collaborative initiative between DENR Region XIII and HMC-TNP reflects a strong and continuing partnership anchored in responsible environmental stewardship, sustainable development, and community participation in conservation efforts.

At HMC-TNP, environmental protection goes beyond compliance — it is a shared responsibility and a long-term commitment to preserving the country’s natural heritage for future generations.

Hinatuan Mining Corporation – Tagana-an Nickel Project (HMC-TNP) continues to uphold its strong commitment to sustainable, responsible, and progressive mining operations after successfully completing the Tenement, Safety and Health, Environment, and Social Development (TSHES) Monitoring conducted by technical personnel from the Mines and Geosciences Bureau Regional Office XIII (MGB-13) from February 9 to 11, 2026.

The comprehensive three-day assessment evaluated HMC-TNP’s 2025 annual accomplishments, covering key areas of mining operations, including tenement management, occupational safety and health, environmental protection, and social development initiatives for host and neighboring communities.

The monitoring activity served as an important platform for assessing the company’s compliance, operational performance, and implementation of programs anchored in responsible mining principles. Through site inspections, document reviews, technical evaluations, and stakeholder engagements, the MGB-13 technical team provided valuable observations and recommendations aimed at further strengthening HMC-TNP’s operational systems and sustainability initiatives.

More than a regulatory requirement, the TSHES monitoring reinforces HMC-TNP’s culture of continuous improvement. Insights gathered during the assessment will help guide the company in enhancing existing programs, adopting innovative and adaptive solutions, and ensuring that its operations remain aligned with the highest standards of environmental stewardship, workplace safety, and community development.

HMC-TNP recognizes that responsible mining extends beyond resource extraction — it is about creating long-term positive impacts for people, communities, and the environment. Guided by this principle, the company remains committed to balancing economic growth with environmental preservation and social responsibility.

As HMC-TNP moves forward, the company remains dedicated to building on its accomplishments and further advancing its responsible mining practices in partnership with regulators, stakeholders, and the communities it proudly serves.

MAKATI CITY, PHILIPPINES — The Philippine Nickel Industry Association (PNIA) and its member companies laud the recent decision of the Supreme Court in G.R. No. 262969, which dismissed the Petition for a Writ of Kalikasan filed against Hinatuan Mining Corporation (HMC).

This landmark ruling marks a definitive shift in the regulatory landscape, effectively ending the era of “trial by sentiment” in environmental litigation. The Supreme Court has sent a clear, unambiguous message: the future of Philippine industry and environmental stewardship must be built on the bedrock of scientific evidence, not the shifting sands of public conjecture and unfounded speculation. The Court itself emphasized that a writ of kalikasan “is an extraordinary remedy available against unlawful act or omission involving environmental damage of such magnitude,” and that its issuance requires strict compliance with evidentiary standards. It further found that the petitioners “failed to comply with the required contents of a petition,” relying on generalized claims and unsubstantiated allegations, ultimately dismissing the case “for being insufficient in form and substance.”

OceanaGold (Philippines), Inc. has sold 31% or around 6,684 ounces of its annual gold doré production to the Bangko Sentral ng Pilipinas (BSP) in 2025, exceeding the minimum 25% commitment under its  gold buying agreement with the central bank.

The higher-than-committed delivery reinforces the Philippines’ reserve buffer and supports national economic stability amid continued global market uncertainty.

“Our continued gold sales to the BSP reflect our commitment to reinforce the country’s broader economic resilience. As the government’s partner in responsible resource development, we hope to continue to contribute to strengthening the country’s financial position and maximize the value of precious metals,” Atty. Joan Adaci-Cattiling, OGP President and General Manager for External Affairs and Social Performance, said.

OceanaGold (Philippines) Inc. reported a net income of $34.7 million in the first quarter of 2026, driven by strong gold prices and steady production from its Didipio gold-copper mine in Nueva Vizcaya.

In a disclosure to the Philippine Stock Exchange, the company said revenue for the January-to-March period reached $158.4 million, nearly double the $79.3 million recorded in the same period last year. Earnings per share rose to $0.015 from $0.003 a year earlier.

The company produced 20,400 ounces of gold and 3,200 tonnes of copper during the quarter, broadly in line with its production guidance. All-in sustaining costs were reported at $1,298 per ounce of gold sold.

OceanaGold Philippines also generated free cash flow of $80.1 million during the quarter, sharply higher than the $8 million recorded in the first quarter of 2025.

The company declared a first-quarter dividend of $44.7 million, equivalent to $0.0196 per common share. Shareholders on record as of May 21, 2026, will receive the dividend payment on June 17, 2026. The dividend will be paid in Philippine pesos based on the prevailing exchange rate at the time of payment.

OceanaGold Philippines President Joan Adaci-Cattiling said the company benefited from strong metal prices and stable operations during the quarter.

“During the first quarter, we safely and responsibly produced gold and copper in line with our guidance,” Adaci-Cattiling said. “With today’s strong gold prices and solid production results we generated $80M of Free Cash Flow during the quarter and announced another healthy quarterly dividend for our shareholders.”

She added that exploration drilling had resumed in the lower levels of the Didipio mine, while near-mine drilling activities continued at the True Blue target area.

OceanaGold Philippines operates the Didipio gold-copper mine in Luzon under a Financial or Technical Assistance Agreement. The company said it remains focused on maximizing free cash flow generation and delivering returns to shareholders.

The Mines and Geosciences Bureau (MGB) has released the list of qualified mining companies for the 2026 Presidential Mineral Industry Environmental Award (PMIEA) and Best Mining Forest Contest (BMFC), recognizing firms that demonstrated compliance with environmental protection, mine safety and sustainable development standards.

The PMIEA is considered among the highest recognitions in the Philippine mining industry and honors companies that go beyond regulatory compliance in environmental management, safety and health programs, and community development initiatives.

Under the revised guidelines implemented through MGB Memorandum Circular No. 2025-002, the awards continue to cover mining, mineral processing and mineral exploration categories.

Qualified companies were categorized according to their operations, including surface mining, underground mining, quarry operations, mineral processing and exploration activities.

The BMFC, meanwhile, recognizes mining firms with outstanding reforestation, mine rehabilitation and forest enhancement programs within their contract areas and surrounding communities.

The MGB said participating firms underwent evaluation covering environmental protection measures, occupational safety and health performance, social development and management programs, and compliance with mining and environmental laws.

The awards program forms part of the government’s efforts to promote responsible mining and sustainable mineral development while balancing environmental protection and economic growth.

According to the MGB, qualified firms will proceed to further validation and national-level assessment before the final selection of winners for the 2026 awards cycle.

Among the qualified firms were companies engaged in nickel, gold, copper and cement raw material operations, as well as mineral processing and quarrying activities in various regions nationwide.

The MGB has yet to announce the final winners and award dates for the 2026 PMIEA and BMFC.

The Asian Development Bank has launched a financing facility aimed at helping countries in Asia and the Pacific develop secure and sustainable critical minerals supply chains needed for clean energy technologies and industrial growth.

The new Critical Minerals Financing Partnership Facility seeks to mobilize financing and technical assistance for projects involving the exploration, extraction, processing and recycling of critical minerals, according to the Asian Development Bank (ADB).

ADB said the initiative is intended to support the growing demand for minerals such as nickel, copper, lithium and cobalt, which are essential for electric vehicles, renewable energy systems, battery storage and other low-carbon technologies.

The multilateral lender said the facility will include a grant window that will support early-stage project preparation, including feasibility studies, environmental and social assessments, technical studies and capacity-building programs.

ADB President Masato Kanda said the development of reliable and responsible critical minerals supply chains is becoming increasingly important as countries accelerate energy transition efforts and industrial modernization.

The bank said the facility will also promote environmental sustainability, responsible mining practices and stronger regional cooperation across the critical minerals value chain.

ADB noted that many countries in Asia and the Pacific possess substantial reserves of critical minerals, placing the region in a strategic position to support global demand for materials required in clean energy technologies.

TVI Resource Development Philippines Inc. said it is integrating a 5.3-megawatt-peak solar power facility into the Siana Gold Project in Surigao del Norte as part of efforts to strengthen operational sustainability and improve energy reliability at the mine site.

The company said the solar facility, being developed under Greenstone Resource Corp., is expected to generate about 7.94 million kilowatt-hours of electricity annually and supply around 16 percent of the processing plant’s total energy requirements.

TVIRD said the project forms part of its broader strategy to align mining operations with cleaner energy solutions while reducing dependence on conventional power sources. The company added that the solar installation is expected to cut more than 4,100 tons of carbon dioxide equivalent emissions annually.

Construction of the solar facility is ongoing, with completion targeted by May 31. Once completed, the project will occupy about 15.65 hectares within the Siana Gold Project area.

The Siana Gold Project is located in the municipalities of Tubod, Mainit and Alegria in Surigao del Norte and is among the major mining operations under the TVIRD group.

Francis Glenn Suante, regional director of the Mines and Geosciences Bureau Region 13, described the project as the first large-scale solar farm established by a mining company in the Caraga Region to support operational power requirements.

“This Solar Farm Project is the first of its kind here in the Caraga Region where a mining company really put up a large-scale solar farm to help offset its energy requirements and strengthen its power supply,” Suante said in the company release.

Engr. Rico Hernandez, Greenstone Solar Farm project head, said the development reflects increasing integration between the mining and renewable energy sectors.

“I see this as a major milestone for the mining industry, showing that large-scale operations can effectively tie up with the renewable energy sector,” Hernandez said.

TVIRD said the project is being implemented in partnership with PAVI Green Renewable Energy Inc., which serves as the engineering, procurement and construction contractor for the facility.

The company said the solar initiative underscores the mining industry’s growing adoption of renewable energy technologies to support responsible resource development and long-term operational resilience.

Philex Mining Corporation swung to a net loss of P592 million in the first quarter of 2026, reversing a profit a year earlier, as lower ore throughput and production at its Padcal mine dragged results, the company said.

The listed miner reported a core net loss of P281 million, compared with a core net income of P71 million in the same period last year. The decline was attributed to reduced milling volumes following restoration work on a damaged section of the Secondary/Tertiary crushing plant caused by a structural failure supporting ore bins.

Tonnes milled dropped 42 percent year on year to 931,000 tonnes, while gold output reached 2,227 ounces and copper output totaled 1,869 pounds. Revenues fell to P1.08 billion from P1.90 billion a year earlier, while operating costs stood at P1.42 billion.

Losses were partly cushioned by a surge in gold prices, with realized prices rising 92 percent year on year to $4,960 per ounce, the company said.

Philex said the first-quarter performance reflected “transitional mine conditions” and did not represent its steady-state operational profile. Repair work on the affected crushing plant section has been completed, with production throughput expected to normalize starting May 2026.

Meanwhile, the company reported progress on its Silangan project, where the underground mine and tailings storage facility are substantially complete. The processing plant is undergoing partial and progressive commissioning, with first gold and copper production now expected within 2026.

Philex said the timeline reflects a conservative approach as it develops what it described as the country’s first fully automated gold and copper oxide processing facility, including a maiden copper leaching process in the Philippines.