Jan 162014
 

MANILA, Philippines – Listed Philex Mining Corporation has appointed a new resident manager for its only operating mine in the country.

In a regulatory filing, the company announced that industry veteran Manuel A. Agcaoili has been appointed as senior vice president and resident manager of the Padcal copper-gold mine in Benguet.

He replaces Libby Ricafort who has retired.

Agcaoili holds a Bachelor of Science degree in Metallurgical Engineering from the University of the Philippines, graduating in 1980, and has a Masters in Business Administration from the Ateneo de Manila Graduate School of Business as of 2002.

He served as director and president of MBMI Resources Phils. Inc. and Senior Philippine representative of MBMI Resources, Inc. based in Vancouver.

He was also a director and president of Narra Nickel Mining and Development Corporation, Tesoro Mining and Development Corporation, and McArthur Mining, Inc.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Agcaoili also served as a director and president of Rapu-Rapu Processing Inc. and a director of Lafayette Philippines, Inc.

He was previously connected with the Philippine Associated Smelting and Refining Corporation (PASAR).

Philex Mining has been operating the Padcal mine for 55 years, producing copper concentrate.

Philex is operating its copper-gold mine in Padcal, Benguet on a probationary capacity as it undertakes mine rehabilitation after the massive tailings spill that occurred in the mine in August 2012.

In the first nine months of the year, the Padcal mine in Benguet was among the top five producing mines in the country, generating P7.52 billion from metal sales.

Jun 162013
 
Philex Mining wraps up 4-mo rehab of Padcal

MANILA, Philippines – Listed Philex Mining Corp. is expected to finish the rehabilitation of its Padcal mine in Benguet next month, paving the way for the sale of additional shares to finance projects in the facility. “(Rehabilitation) has proceeded well. Actually, we’re already at the tail-end of the process,” said Philex chairman Manuel V. Pangilinan. “We are now applying for the lifting of the (mining) suspension and that is pending,” he added. Operations of the Padcal mine were suspended in August after its tailings pond collapsed. Late in February, the Mines and Geosciences Bureau allowed Philex to reopen a portion of the Padcal gold and copper mine to conduct remediation measures for tailings facility storage number. 3. The company has also paid P1.034 billion in penalty to the Department of Environment and Natural Resources for the spill that affected Balog Creek and Agno River. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “The major work has been the construction of the spillway, which should be finished by the end of this month,” Pangilinan told reporters. Philex, the country’s largest miner, has substantially filled up the sinkhole that caused the operations to halt almost a year ago, he pointed out. Moving forward, Philex is planning to sell more than P12 billion worth of shares to finance other projects, including the construction of a new tailings pond in Benguet. Proceeds will also be used to fund an exploration program of the Silangan and Kalayaan mining projects in Surigao del Norte. The Read More …