With the regulatory environment turning more favorable for the mining industry, tycoon Manuel Pangilinan-led Philex Mining Corp. has initiated expansion plans this year with a bid to acquire its neighboring Macawiwili gold mine. | jordeenelagare /PDI
Philex Mining, for its part, has been exploring various mineral deposits, including gold and copper, for several decades.
“We need to hit the ground with this at the soonest possible time,” said Austin, adding, “considering that this property is adjacent to our Padcal mine and would go a long way in fulfilling company plans for expansion and extension of the life-of-mine of Padcal.” “This is a good addition or extension to the Padcal Mine. I hope that this is the start of something good and that it would ride the wave of higher metal prices in gold and copper,” Philex Mining chair Manuel Pangilinan said.Pangilinan added, “Any addition, expansion, or extension to the Padcal Mine would greatly benefit not just our employees and their families, but also our host and neighboring communities, and our nation as a whole.
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