Search Results: 2023

As Chairperson of the Professional Regulatory Board of Geology, December of last year was quite a busy month. I was given the honor to present the keynote speech during the opening of the Geological Convention (GeoCon) 2023 last 05 December 2023 and the Oath Taking Ceremonies for New Geologists on 11 December 2023. In my speeches, I emphasized the importa...

With the recent pronouncements of the newly appointed Presidential Adviser on Investment and Economic Affairs, Frederick Go, that mining is at the top of the government’s list of five priority areas [the other four being semiconductors, agriculture, steel, and pharmaceutical industries], expectations are high that this administration will finally deliver ...

Philex Mining Corporation, one of the oldest and largest gold and copper producers in Southeast Asia, announced the completion of its financial results for FY2023. The Company added Php98 million core net income in 4Q2023 to the Php865 million core net income for the first nine months ended September 30, 2023, which registered the full year core net in...

Integrated energy company Semirara Mining and Power Corporation (SMPC) posted P27.9 billion in consolidated net income in 2023, a 30-percent drop from P39.9 billion the previous year but still the second highest in its history. All-time high coal shipments and record electricity sales softened the impact of weaker selling prices for both coal and elect...

The Department of Energy (DOE) launched on Monday eight predetermined areas (PDAs) for exploration, development, and production of indigenous energy sources across the country. Four of these are in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), three of which are for petroleum and one for coal. DOE Undersecretary Alessandro Sales, duri...

The Manila Electric Company (Meralco) has expressed its support to the government’s 2032 nuclear power target by installing 1,200 megawatts capacity using small modular reactor technologies. Meralco executive vice president and chief operating officer Ronnie Aperocho said in an interview early this week that the company aims to usher this target of the...

Listed upstream oil and gas company PXP Energy Corp. remains interested in exploration activities for new sources of energy in the country. “PXP will assess and study other projects in the Philippines,” it disclosed to the Philippine Stocks Exchange on Thursday. It said the company and its subsidiary, Forum Energy Ltd., would continue to coordinate ...

Sustained construction on the next phase of the Pasig River Urban Development Project would interconnect the showcase area at the back of the Manila Central Post Office with the walled city of Intramuros. The 500-meter showcase area of the Pasig River rehabilitation project, dubbed the “Pasig Bigyan Buhay Muli” (PBBM), was completed on Jan. 17 with the...

Filipinos, especially in the National Capital Region, can look forward to using a modern underground train system in five years’ time, as construction of the Metro Manila Subway Project (MMSP) Phase 1 has hit 40 percent completion and is proceeding apace. The Department of Transportation (DOTr) shared the news during the site inspection of the MMSP in ...

The Chamber of Mines of the Philippines (COMP) said its 19 member-companies will fully implement the Towards Sustainable Mining (TSM) initiative, a global environmental, social, and corporate governance performance measurement standard.  In a statement over the weekend, COMP said TSM is a set of tools and indicators to ensure that key mining risks are ...

The much-awaited inter-island bridge project of the Department of Public Works and Highways (DPWH) in Northern Mindanao is on the verge of completion this year, with funding poised to play a pivotal role. Senior Undersecretary Emil K. Sadain, in-charge of DPWH infrastructure flagship projects, said that civil works for the 3.17-kilometer Panguil Bay Br...

Expenditures of the national government for infrastructure and other capital outlays grew to P1.02 trillion from January to November 2023. This is an 18.5 percent or P159.8 billion increase to what was recorded in the same period in 2022 at P861.8 billion. “Government spending is vital to national growth. Thus, to help buttress robust economic growt...

The global nickel market has recently experienced a significant downturn, marked by a sharp decline in nickel prices, plummeting by over 50% within 12 months. This unsettling trend has reverberated across nickel mines worldwide, impacting the Philippine mining industry. As nickel prices continue their downward spiral, Philippine mines face mounting cha...

Celsius Resources Limited is pleased to announce an updated JORC compliant Mineral Resource estimate (“MRE”) for the Sagay Copper Project (“Sagay” or “Project”), held under its Philippine Subsidiary, Tambuli Mining Company, Inc (“TMCI”) and located at the Island of Negros in the Philippines. The update to the MRE at Sagay is largely based on the result...

The Didipio Gold-Copper Mine has set aside PhP 169 million for its Community Development Fund (CDF) this year, benefitting 52 barangays in the provinces of Nueva Vizcaya and Quirino. This is a 24% increase from their 2023 allocation of PhP 136 million. “We have expanded the CDF coverage to 52 barangays in 2024 from 44 last year. This is proof of our co...

Vietnam’s largest real estate firm Vingroup has expressed interest in investing in the production of electric vehicle (EV) batteries in the Philippines, Malacañang said Tuesday. The plan was discussed during President Ferdinand R. Marcos Jr.’s meeting with Vingroup executives on the first day of his state visit to Vietnam on Monday, Presidential Commun...

 The Canadian Chamber of Commerce of the Philippines hosted an online Business Briefing on Jan. 25, 2024, Thursday. This is the first of their series for the year with the title "Mining: Update on Major Issues". CanCham President, Julian H. Payne hosted the online event along with CanCham's Assistant Corporate Secretary, Maria Rowena Gempesaw-Cuyno, wi...

The construction industry is a key contributor to the Philippine economy. The Philippine government’s flagship infrastructure project, which was renamed “Build Better More” by the current administration, was introduced to propel the country to achieve a more developed and connected life among Filipinos. One of the big projects is the Metro Manila Subway P...