Philex Mining eyes Silangan nod by Q3
PHILEX Mining Corp. is aiming to secure its environmental compliance certificate (ECC) for the Silangan mine project by the third quarter.
“We’re trying to work for the ECC approval in two to three months… by third quarter,” Philex Mining Chief Executive Officer Eulalio B. Austin, Jr. told reporters after the Philippine Mining Club’s 50th Luncheon held in Makati City.
“Because it’s a new project we have to revise the ECC, but what’s important there is the public hearing and the endorsements of the people,” he added.
Philex Mining has been working with regulatory bodies to facilitate its compliance with all permitting requirements for the Silangan project.
The Silangan mine in Surigao del Norte has three deposit areas, Boyongan, Bayugo, and Kalayaan, with the latter a joint venture with Manila Mining Corp. This might be Philex Mining’s biggest source of revenue after its 61-year-old Padcal mine in Tuba, Benguet will be closing in 2022.
The operation for Silangan was originally set to begin in 2018, but has been moved to 2022 due to the ban on new open-pit mining introduced in 2017.
This has prompted Philex Mining to look at a new design that would shift its method to underground mining.
Mr. Austin said the company has so far spent about P16 to P17 billion for exploration in the mining site.
Philex Mining is one of the three local units of Hong Kong-based First Pacific Co. Ltd., the two other being PLDT, Inc. and Metro Pacific Investments Corp. Hastings Holdings, Inc. — a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc.