Philex Mining Corp. has reached a major milestone in the development of its Silangan Project in Surigao del Norte, as the construction of the Tailings Storage Facility (TSF) reaches 50% completion.
A TSF is a reservoir that stores fine waste material (mine tailings) from ore or coal processing plant and ensures responsible waste management for mining operations.
While the TSF is half into completion, the company said there is also significant progress at the Process Plant, with major equipment deliveries including SAG Mill, Atmospheric Leach Feed Thickeners, and HAB Feeder and Primary Sizers now ready for installation.
The construction of underground production tunnels is underway—an essential infrastructure for efficient ore extraction.
All equipment packages have been awarded and are in different stages of manufacturing by leading mining industry suppliers from multiple countries, the company added.
The company said the underground production tunnels and TSF are projected to be finished by Q3 2025, while the Process Plant remains on track for commissioning by Q4 2025, setting the stage for Silangan’s commercial operations in early 2026.
Philex’s Silangan Project is one of the country’s largest copper-gold mine developments, expected to fill the production gap once the company’s Padcal mine closes in 2028. Phase 1 is focused on the Boyongan deposit, which holds 81 million tons of mineable material.
Once fully operational, the Silangan Project is poised to become a major contributor to the Philippine mining sector, reinforcing Philex’s role as one of the country’s top copper-gold producers.
“In 2025, we will navigate the challenges of operating an old yet viable mine like Padcal and commissioning a new mine like Silangan,” Philex president and chief executive officer Eulalio B. Austin Jr. said. “Padcal still has potential, and we are looking at pulling out all the stops to ensure its survival until its projected mine life ends in 2028 and even beyond.”
Meanwhile, the company disclosed a lower core net income for 2024 at P746 million, down 22% from its P963 million profits in 2023.
Philex said its operating revenues improved to P8.183 billion versus P7.726 billion the previous year but its operating costs and expenses went up 9% to P7.299 billion last year on the back of higher prices of materials and supplies.
How do you see Philex Mining’s Silangan Project shaping the future of the Philippine mining industry? Will new mining projects like Silangan help sustain the country’s mineral production? Share your insights in the comments below and follow Power Philippines for the latest mining and energy updates!
