Both foreign and local investors have expressed interest in funding Philex Mining Corp.’s Silangan gold and copper project ahead of its scheduled commercial operations early next year.
Philex President and Chief Executive Officer Eulalio Austin Jr. said the Silangan mine is on track to begin operations by the first quarter of 2026, as reported by Manila Bulletin. He noted that the company has already reached the ore body within the mine, with stockpiling now underway in preparation for processing.
Austin said the project’s key infrastructure components are nearing completion. The tailings plant is ready to accept waste material from mineral processing, while the mechanical installation of the processing plant is expected to be completed by the end of December.
“First month of 2026, we start debugging the process plant already, in time for the first metal pour towards the end of first quarter,” Austin said during the 2025 Mining Philippines International Conference and Exhibition.
According to the project plan, Silangan will start producing 2,000 tons of ore per day for the first five years. Output will increase to 4,000 tons per day in the sixth year, 8,000 tons per day in the ninth year, and reach a maximum capacity of 12,000 tons per day by the twelfth year. Austin said the PHP 1.2-billion expansion from 2,000 to 12,000 tons per day will depend on project revenues, though additional investor funding could accelerate the timeline.
Without naming potential partners, Austin confirmed that both foreign and local investors have shown interest in the project, though no formal agreements have been reached. He said any future investment deal would allow Philex to maintain majority ownership while investors take a minority stake.
Earlier this year, Philex Chairman Manuel V. Pangilinan said the company had tapped a foreign investor for a minority share in Silangan. Austin said talks remain ongoing but emphasized that construction and commissioning will continue as planned.
Beyond the Silangan project, Philex is looking into new mining prospects across the country, including renewed exploration at its nickel project in Zambales after initial findings showed low ore yields.
How do you think new investments in mining could shape the Philippines’ mineral development strategy in the coming years?
Follow Ang Minero on Facebook and LinkedIn for more updates.
