Philex Mining Corp. said the Department of Environment and Natural Resources—Environmental Management Bureau approved its request to raise the height of dam embankments and offset dikes in its Padcal mine in Benguet.
Philex Mining said the approval was announced in a letter dated December 13, 2021.
The works involve the raising of the height of dam embankments and offset dike from 640 meters above sea level (masl) to 647 masl or an additional dam height of 7 meters.
Philex Mining said mprovements in its facilities are necessary due to the extension of Padcal mine’s life for an additional two years or until December 31, 2024 from the original valuation of end-2022 after the completion of confirmatory drilling and related technical studies.
As of end-March this year, Padcal mine’s updated remaining mineable reserves are estimated at 30.2 million tons with average gold and copper grades of 0.23 grams per ton (g/t) and 0.18 percent, respectively. – Jed Macapagal
