Nov. 18, 2017: Atlas Mining losses doubled in 9 months

Nov. 18, 2017: Atlas Mining losses doubled in 9 months
 

Atlas Consolidated Mining and Development Corp. doubled its consolidated net loss for the first nine months of the year to P939 million from P470 million a year ago.

This includes the company’s P400 million provision for mark to market losses as copper price increased above the hedge price at the end of the third quarter.

In terms of operations, its wholly-owned subsidiary Carmen Copper Corp. milled 10.498 million tons of ore and produced 58 million pounds of copper metal year-to-date. These were lower than the 12.682 million tons milled and 77.1 million pounds of copper metal produced during the same period last year.

Read more: http://business.inquirer.net/240957/atlas-mining-losses-doubled-9-months#ixzz4yjd2eLRk
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Nov. 18, 2017: Samar residents ask DENR to renew land stewardship

Nov. 18, 2017: Samar residents ask DENR to renew land stewardship
 

RESIDENTS of a small island in Eastern Samar are urging Environment Secretary Roy Cimatu to renew their Certificates of Stewardship (COS) with the expiration of Hinatuan Mining Corp.’s (HMC) operation in the island.

Manicani, a very small but mineral-rich island off the coast of Guiuan town, was host to a nickel-mining firm which Mineral Production Sharing Agreement (MPSA) with the government has expired on October 28.
The island was among the hardest hit by Typhoon “Yolanda” in 2013.

The expired MPSA covers almost the entire island’s limited areas for further development after “Yolanda.” The Department of Environment and Natural Resources (DENR) has suspended mining operations since 2011 citing social issues and environmental concerns.

Nov. 18, 2017: MPIC sets P653-B capex for next 5 years

Nov. 18, 2017: MPIC sets P653-B capex for next 5 years
 

SYDNEY — Metro Pacific Investments Corp. (MPIC) will be setting aside P653 billion in capital expenditures for the next five years, as it continues to grow its toll roads business both in the Philippines and across the Southeast Asian region, as well as undertake projects under its power, water, hospital, and rail businesses.

The Philippine unit of the First Pacific group said the capex allocation from 2018 to 2022 forms part of its commitment to deliver high quality infrastructure projects that will take advantage of the Duterte administration’s “Build, Build, Build” program.

“(We) are very, very much focused on fixing fundamental challenges in society and with society’s infrastructure,” MPIC Chief Finance Officer David J. Nicol told reporters in a briefing here on Thursday.

Nov. 18, 2017: Mining confab set in Baguio on Nov. 21–24 | Philippine Information Agency

Nov. 18, 2017: Mining confab set in Baguio on Nov. 21–24 | Philippine Information Agency
 

BAGUIO CITY, Nov. 17 (PIA) — The Philippine Mine Safety and Environment Association (PMSEA) will again bring the a thousand stakeholders from the mining industry and other related fields in the annual national mining conference here next week.

The 64th Annual National Mine Safety and Environment Conference (ANMSEC) is set on November 21 to 24 with the theme, “Responsible Mining … In the Hearts and Minds of Filipinos.”

PMSEA, the country’s forerunner in the promotion of occupational safety and health, sound environmental management and social responsibility in the minerals industry,  will showcase best practices in aggressive promotion of its advocacy in responsible mining of mineral resources that contribute to the sustained growth and development of the country.

Nov. 17, 2017: Semirara Mining spends half of P8B budget for plant rehab

Nov. 17, 2017: Semirara Mining spends half of P8B budget for plant rehab
 

THE SEMIRARA MINING AND POWER CORP. (SMPC) HAS CONSUMED MORE THAN HALF OF ITS P8 BILLION BUDGET FOR ITS THREE-YEAR UPGRADE PROGRAM OF ITS POWER PLANTS IN CALACA, BATANGAS.

SMPC said that P2.8 billion has been spent on the rehabilitation and life extension program under the Sem-Calaca Power Corp. (SCPC).

P2.2 billion worth of contracts related to the program were also awarded to different local and foreign suppliers.

The aforementioned are part of the three-year program until 2019 that has a budget of around P8 billion. It looks to up the generation capacity of both plants to 600-megawatts (MW) and extends its economic life by 20 to 25 years.

“Units 1 and 2 have been running for 33 years and 21 years, respectively. We are upgrading the equipment to get the reliability, performance, and efficiency needed to support our continuing commercial requirements,” SMPC president and COO Victor Consunji said.

Nov. 17, 2017: Government to recognize eco-friendly, ‘safest’ mines | BusinessMirror

Nov. 17, 2017: Government to recognize eco-friendly, ‘safest’ mines | BusinessMirror
 

The government is set to recognize the country’s safest and eco-friendly mines during the prestigious Presidential Mineral Industry Environmental Award (PMIEA).

To be held as part of the 64th Annual National Mine Safety and Environment Conference (ANMSEC), the PMIEA in Baguio City from November 21 to 24, PMIEA awards will be given to deserving mining companies engaged in mineral exploration, quarry operation, surface mining, underground mining and mineral processing.

The PMIEA was established under Executive Order 399 on February 03, 1997 in compliance with the policy that mineral exploration activities and mining operations shall not only be proenvironment but also propeople.

Nov. 16, 2017: Annual mining confab to recognize responsible miners

Nov. 16, 2017: Annual mining confab to recognize responsible miners
 

The prestigious Presidential Mineral Industry Environmental Award (PMIEA), which would be part of the 64th Annual National Mine Safety and Environment Conference (ANMSEC), is set to recognize the country’s responsible miners.

Hosted by the Philippine Mine Safety and Environment Association (PMSEA) – the forerunner in the promotion of occupational health and safety, sound environmental management and social responsibility in the country’s minerals industry – ANMSEC will be held at CAP-John Hay Trade and Cultural Center in Baguio City on November 21 to 24.

“The 64th annual national mine safety and environment conference again brings together advocates of responsible mining within and outside the mining communities where we operate. This includes not only the mining companies but also our regulators, suppliers, academe, services contractors and local government units and communities,” PMSEA president Louie Sarmiento said in a statement.

Nov. 15, 2017: Global Ferronickel, Russian firm ink deal for processing ores | BusinessMirror

Nov. 15, 2017: Global Ferronickel, Russian firm ink deal for processing ores | BusinessMirror
 

GLOBAL Ferronickel Holdings Inc. (FNI) and Russia’s Vi Holding Llc. Manila recently signed an agreement for the implementation of joint business projects in the processing of lateritic ores.

The parties signed the agreement on Monday alongside the Philippines and Russia meetings in the framework of the 31st Association of Southeast Asian Nations Summit and Related Summits being hosted by the Philippines.

President Duterte and Prime Minister Medvedev witnessed the signing of the Memorandum of Cooperation and Partnership between FNI Chairman Joseph C. Sy and Vi Holding Board Chairman Valery N. Krasnov.

Nov. 18, 2017: Bilaterals yield deals

Nov. 18, 2017: Bilaterals yield deals
 
The Philippines clinched several economic deals with its trading and dialogue partners on the sidelines of the 31st Asean Summit and Related Summits.

With Russia, the Philippines discussed possible cooperation to revive the Philippine North Railway (PNR) Northern Luzon railway corridor from New Clark City to Tuguegarao.

The Department of Transportation (DOTr) said  Russia’s  assistance will commence with a grant for the preparation of a detailed feasibility study for PNR Northern railway from New Clark City to San Fernando, La Union and Tarlac to Tuguegarao.

Nov. 15, 2017: First Pacific reviews operations

Nov. 15, 2017: First Pacific reviews operations
 

First Pacific Co. Ltd., a Hong Kong-based investment management and holding company with investments in Indonesia, Australia and the Philippines, is reviewing its regional portfolio to dispose assets that failed to meet target returns.

First Pacific managing director and chief executive Manuel Pangilinan said the conglomerate expected to complete the portfolio review by the end of the year.

“There are some transactions under in discussions already. Hopefully by the end of the year, we will have something,” Pangilinan said.