TUBA, Benguet – The Philex Mining Corporation is gearing to extend its mine life beyond 2027 to avoid massive displacement of employees and the people living in its host and neighboring communities.

Philex president and chief executive officer Engr. Eulalio B. Austin, Jr. said that the company does not want what previously happened to other mining firms that closed their operations and displaced workers had to go back to their places of origin to look for alternative sources of livelihood.

He pointed out that one of the major strategies being employed by the company is to reduce its operating cost while taking advantage of the prevailing high metal prices in the world market.

The Philex official claimed that another mining company tapped Philex as its drilling partner to look into possible ore bodies within its tenement area in Ampucao, Itogon and that whatever results of the partnership will be subject to negotiations between the two mining companies in the future.

Further, Austin disclosed that Philex is also looking to explore some areas within the Alang area to locate additional ore deposits that could be mined in the future to help extend the company’s mine life beyond 2027.

Earlier, Philex projected the end of its mine life in 2025 but it was further extended to the end of 2027 because of the prevailing high metal prices in the world market. Austin admitted that the minerals being presently mined by the company are low grade that is why part of the ongoing strategies is to look for other ore deposits to augment the present production to help in further extending the company’s mine life to help in sustaining the sources of livelihood and economic activities within its host and neighboring communities.

According to him, the best is yet to come for Philex that is why efforts are geared towards extending the company’s mine life to maximize the use of its existing infrastructures to serve as the beacon for responsible mining in this mineral-rich community.

He stipulated that Philex officials are keeping their fingers crossed that their ongoing endeavors will bear fruit in the coming months so that the company can come out with its assessment on whether or not these projects are feasible that would possibly extend its mine life beyond the projected time frame.

Austin assured company officials and employees and the people living within its host and neighboring communities that Philex is doing its best within its mandate to be able to locate additional ore bodies that could be mined to extend its mine life.

Philex is the country’s largest producer of gold and copper that is operating within the jurisdiction of Tuba and Itogon towns and had been operating the mine for over six decades now. It was incorporated in 1958 but started operating as a mine several years later.

Austin is the first Igorot mining engineer occupying the top post in a prestigious mining company operating in the country. By Dexter A. See 

Source: https://baguioheraldexpressonline.com/philex-gears-up-to-extend-mine-life-beyond-2027/