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...

Transport Secretary Jaime Bautista and Chinese Ambassador Huang Xilian restart “negotiations for major transport projects” in a formal meeting at the Chinese Embassy in Makati City on Aug. 11, 2022. They also tackled three China-funded railway projects -- the PNR South Long Haul Project (North-South Commuter Railway), Subic-Clark Railway and Mindanao Rail...

Photo credit: Department of Public Works and Highways The Korea Eximbank (KEXIM) Manila Representative Office, implementing agency of the Korean Government’s Economic Development Cooperation Fund (EDCF) Official Development Assistance (ODA) program in the Philippines, is keen on levelling up funding support to infrastructure development priorities of t...

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...

San Miguel Corp. (SMC), one of the country’s largest and most diversified conglomerates, is set to open a USD500 million electric car battery plant in Dinagat Islands province, Governor Nilo Demerey Jr. said Thursday. Demerey confirmed the company’s decision to establish the plant in Dinagat Islands after his meeting with SMC president and chief execut...

Philippine Ambassador to South Korea Ma. Theresa Dizon-De Vega met with Korea Hydro and Nuclear Power Co. Ltd (KHNP) executives last July 19 to discuss future Philippines-Republic of Korea (ROK) cooperation on nuclear technology and renewable energy. The KHNP executives include Project and Overseas Nuclear Business Division Executive Vice President Nam...

Photo credit: A subsidiary of Enrique Razon Jr.-led company has signed a share purchase agreement to formalize the acquisition of stakes in Malampaya gas field from Dennis Uy’s firm. In a statement Friday, Prime Infrastructure Capital, Inc. bared that its unit, Prime Exploration Pte. Ltd., sealed the share purchase deal with MEXP Holding Pte. Ltd., ...

Photo credit: IHS Markit Senate President Juan Miguel Zubiri said Tuesday he will fully support the plan of President Ferdinand Marcos Jr. to explore the country’s potentials on nuclear energy as a cheap and reliable source. Marcos said in his first State of the Nation Address (SONA) on Monday that if the country wants to attract investors, both loc...

Photo credit: Embassy of France to the Philippines and Micronesia - French Ambassador Michèle Boccoz The French government is keen to help the Philippines develop its nuclear power program as the Marcos administration looks for other reliable sources of energy. French Ambassador Michèle Boccoz said the embassy has met with some of the Cabinet member...

Photo credit: Embassy of the People's Republic of China in the Republic of the Philippines - Chinese Ambassador Huang Xilian China is ready to restart talks on oil and gas exploration with the Philippines as soon as the latter gives the go signal, Chinese Ambassador Huang Xilian said Wednesday. "In the field of energy, we hope that we will continue ...

Photo credit: Rappler - Binondo-Intramuros Bridge, Manila The government will build several bridges in Metro Manila to further improve mobility, the Department of Public Works and Highways (DPWH) said Tuesday. Secretary Manuel Bonoan said construction and development in the National Capital Region (NCR) will include “I think, five or six bridges, ac...