Gold and copper producer Philex Mining Corp. extended the mine life of Padcal mine in Benguet province by another year to December 2028.
Philex said that based on a study, the life of the Padcal mine could be extended for another year from December 2027 to December 2028, with remaining mineable reserves estimate of 30.25 million tons and an average gold and copper grades of 0.20 grams per ton (g/t) and 0.18 percent, respectively.
The total recoverable gold is estimated to be 137,600 ounces, while the total recoverable copper is estimated at 93.20 million pounds.
“Padcal Mine has been in operation for more than six decades and still has a remaining ore resource that can be mined depending on global metal price forecasts,” Philex said.
The new extension of the life of Padcal mine will provide the continuous employment of 1,879 Padcal employees and sustain the necessary assistance given to the social development of the host and neighboring communities, Philex said.
The extension will also allow a smooth transition to the start of the commercial operation of the Silangan project estimated to commence in early 2026 in response to the global demand for green metals and the government’s call for mineral resources development to be a driver for national growth and economic recovery.
The latest mineable reserves estimate was prepared by Engr. Julius Bayogan and Engr. Ricardo Dolipas II, both competent persons under the definition of the Philippine Mineral Reporting Code (PMRC).
