 The past year was undeniably a period of adjustment for your Company. After a few years of rising and historical record high prices for both copper and gold, we and the rest of the mining industry worldwide were again reminded of the certainty that commodity prices are cyclical and that nothing stays in one place forever. From its high of around $4.00 per pound in April 2008, copper price dropped to as low as $1.26 per pound in December 2008, a decline of 68%. There was less severe correction in the price of gold, from near $1,000 per ounce to $712 per ounce in December 2008, a decline of 30%...
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 Henry A. Brimo was the founder of Philex Mining Corporation. His vision, foresight, leadership, hard work and persevering spirit made Philex one of the most successful and respected mining companies in the country. He passed away on March 3, 2007 at the age of 94, leaving behind a legacy of responsible mining, of utmost fidelity to corporate interest, and of good corporate citizenship.
Born in Manila on February 21, 1913, Henry Brimo started his professional life in the textile industry. He went into stock brokerage in 1936, and then became a director of Baguio Gold in 1946, and its President in 1947.
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ISO 14001 Certificate No:CI/1097
The only metal mining company in the Philippines awarded with ISO 14001 Certification (Certificate No.: CI/1097 issued on 10 September 2002)
 PHILEX HAILED “BEST MINING FOREST”
At a testimonial dinner at the CAMP - John Hay Convention Center in Baguio City on November 22, 2008, Philex took top honors as it received the Best Mining Forest award for fiscal year 2007 – 2008 during the 55th Annual National Mine Safety & Environment Conference.
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