Philex seeks entry into nickel mining

Amid the ongoing push for a clean energy shift globally, Pangilinan-led Philex Mining Corp. seeks to secure new project partners on its newest nickel mining ventures in Zambales.

The company is eyeing the nickel space situated in a Zambales nickel property in addition to the current development of its copper and gold mine sites, Philex President and CEO Eulalio Austin said.

The property in Zambales, which is a greenfield nickel development established under a financial or technical assistance agreement (FTAA) issued during the Ramos administration was inactive for a long period and is currently being reviewed to determine the best next courses of action.

Austin said it took them a significant amount of time to perfect the property’s exploration permit since it is an old FTAA and an old application.

Philex admits they are not experts in the mining nickel, and they will be asking for guidance or a project partner to accomplish developing the said property. Preferably, their collaborators will also introduce them to the nickel mining move.

The role of mining in enabling the transition to clean and renewable energy was emphasized by Philex Chairman Manuel V. Pangilinan since it plays an important role in the production of electric vehicles (EVs) and batteries, which include mined materials such as nickel, graphite, aluminum, and copper, in the production.

Meanwhile, minerals like steel, arsenic, gallium, germanium, indium, and tellurium are needed in solar panels and wind farms, while wind turbines need aluminum and rare earth compounds to make generators lighter and more efficient.

On top of its existing Padcal mine operations, Philex Mining also has the exploration of property in Zambales, the Silangan copper-gold mine in Surigao del Norte, and the potential development of the Macawiwili gold mining project in Itogon, Benguet.

Additionally, Philex recently sealed an agreement with Macawiwili Gold Mining and Development Co. Inc., that is intended to explore a collaborative movement focusing on the development of the 800-hectare area under its Mineral Production Sharing Agreement (MPSA).

The company set an investment of $224 million for the first phase of the Silangan project, which is set for operations in 2025.

Under the project’s first phase, is the Boyongan deposit, which has a long mine life of 28 years and will take two and a half years to develop. After 12 years of operations, it is anticipated to produce 12,000 tons a day compared to its initial production of 2,000 tons of ore per day.