Philex Mining Corp. shifted gears on its Silangan mine project by opting to use sub-level caving methods, resulting in a new round of securing environmental permit from the Department of Environment and Natural Resources (DENR).
The largest gold producer in the country is in need of a different Environmental Compliance Certificate (ECC) from DENR after it decided to use sub-level caving method in its Silangan mine.
“It makes more sense to do sub-level caving method rather than block caving for Silangan. We’re now working on getting the ECC permit for this method,” Philex Mining President and Chief Executive Officer Eulalio Austin Jr. was quoted saying in a report by PhilStar.com.
The review of the permit application under DENR’s Environmental Management Bureau takes two to three months before reaching approval decision.
Meanwhile, Philex Mining has been employing the underground block-cave method in its Padcal mine for 61 years. The site is said to be the longest operating mine site in the country and serves as the company’s primary revenue source.
With Padcal mine’s life expected to end by December 2022, Philex Mining’s Silangan Project will replace the former as the firm’s major source of mineral outputs with projected revenue reaching P 170 billion.
According to Austin, Philex Mining has already spent P 16 billion to P 17 billion since the exploration of the Silangan mine. For the project to commence operations by 2022, it was revealed that the company requires about P 42 billion.
From the three deposit areas within the Silangan tenement, Philex Mining will focus on Boyongan. The other two areas are Bayugo and the joint-ventured area of Kalayaan with Manila Mining Corporation.
Aside from the ECC, Philex Mining also hopes the feasibility studies on Silangan mine done by its lead technical consultant, Australia-based engineering firm Ausenco, be completed by the end of July.
The company is also in the process of securing foreign financial advisers as it scouts for foreign investors for the project.
“The closure of Padcal mine will be an opportunity for us to showcase that the end of mine life in the Philippines can be done with dignity,” Austin said on the plans for the Padcal mine making Philex Mining the first company to formally implement Final Mine Rehabilitation and Decommissioning Plan since the passage of Philippine Mining Act in 1995.
