President Rodrigo Duterte has signed a law establishing the Philippine Energy Research and Policy Institute to enhance the country’s capability for energy research and policy development. Republic Act 11572, signed by Duterte on July 30, establishes the institute as an independent agency attached to the University of the Philippines (UP) with a separat...

Nickel Asia Corporation announced its unaudited financial and operating results for the six-month period ended June 30, 2021 with an attributable net income (net of minority interest) of P2.73 billion, a 579% increase from P401.4 million reported during the same period last year. Earnings before interest, tax, depreciation, and amortization (EBITDA) amoun...

OceanaGold Corporation reported its financial and operational results for the quarter ended June 30, 2021. Michael Holmes, President and CEO of OceanaGold said, “I am very pleased with the operational and financial performance of the business in the second quarter 2021. Haile delivered a record quarter of gold production and is well on-track to deliver on...

Albay Rep. Joey Sarte Salceda has called for the passage of the proposed fiscal regime for the mining industry, saying the industry is a potential job creator in the post-COVID future. Salceda, chairman of the House committee on ways and means, emphasized the natural wealth potential of the Philippines, but observed "key deficiencies in the country’s e...

Photo Credit: Redjie Melvic Cawis Philex Mining Corporation announced that the Company achieved another new high in its revenues and core net income for 2Q2021. Philex recorded a Core Net Income of Php610 million for the 2nd quarter. In addition to the Php540 million core net income it already recorded in 1Q2021, Philex registered a new high core net i...

President Rodrigo Roa Duterte inaugurated on Thursday, July 29, 2021 the Estrella - Pantaleon Bridge, a modern bridge that will connect the cities of Mandaluyong and Makati within five (5) minutes. The President was joined by Chinese Ambassador to the Philippines Huang Xilian, Department of Public Works and Highways (DPWH) Secretary Mark Villar, Senato...

The Department of Public Works and Highways aims to complete and open the other half of the work for the BGC-Ortigas Center Link Road Project toward the end of this third quarter. Secretary Mark Villar said that since the bridge component of new Sta Monica-Lawton Bridge now known as Kalayaan Bridge was opened on June 12 connecting the cities of Makati,...

Photo Credit: Delta Earth Moving Binding Agreement to divest the Siana Gold Project to TVI Resource Development (Phils.) Inc. • US$19 million cash payable upon completion • Net Smelter Return royalty of 3.25% payable for up to 619,000 ounces of gold, with an estimated future face value of US$36 million (based on a US$1,800/oz gold price) (Royal...

Japanese Ambassador KOSHIKAWA Kazuhiko and Foreign Affairs Secretary Teodoro Locsin Jr. signed today the second tranche of the 253.307 billion yen (253,307,000,000) financing for the Metro Manila Subway Project (phase 1). The Metro Manila Subway will be the Philippines' first completely underground railway system, began the construction in February 201...

The government expects to complete 24 infrastructure flagship projects (IFPs) worth PHP194.78 billion before the end of President Rodrigo Duterte’s term in June 2022. “The 24 projects are estimated to generate more than 300,000 jobs between 2017 to 2022,” the National Economic and Development Authority (NEDA) said in a reply to questions from the Phili...

 The Philippine National Railways (PNR) Calamba project has received a “record number” of 34 bids from six local and 17 international companies to participate in the construction of the 40.5-kilometer rail project. In a Facebook post, Department of Transportation (DOTr) Secretary Arthur Tugade said the record turnout is proof that the Duterte administr...

Atlas Consolidated Mining and Development Corporation ("Atlas Mining") reported net income on Php1.94 billion for the first half of 2021 compared to the net loss of Php190 million for the same period in 2020. Net income improvement benefitted from higher metal prices and improved production and shipment volumes in the second quarter. Metal prices rose ...

By Ruth Abbey Gita-Carlos

Motorists will now be able to use the first 18-kilometer portion of the Central Luzon Link Expressway (CLLEX) from SCTEX/TPLEX connection in Tarlac City up to the intersection of Aliaga-Guimba Road in Aliaga, Nueva Ecija. President Rodrigo Duterte, Department of Public Works and Highways (DPWH) Secretary Mark Villar, Senator Bong Go, and Japanese Ambas...

OceanaGold Corporation today advises that the Philippine Government has renewed the Didipio Mine Financial or Technical Assistance Agreement (“FTAA”) for an additional 25-year period, beginning June 19, 2019. The renewed FTAA reflects similar financial terms and conditions while providing additional benefits to the regional communities and provinces that ...

Finishing works of the Department of Public Works and Highways (DPWH) for the Estrella Pantaleon Bridge Project across Pasig River are in full swing and set to be completed towards the end of July. Public Works and Highways Secretary Mark Villar said that although the Covid-19 pandemic has impacted construction activity of various flagship infrastructu...