Full operations at Padcal may resume by July - MVP
MANILA, Philippines - Philex Mining Corp. Chairman Manuel V. Pangilinan expects full operations at Padcal mine to resume by July following clean-up and rehabilitation foreseen to be finished by June.
Pangilinan on Thursday said he expects Philex to complete by June the rehabilitation work on its tailings pond in Padcal mine as well as the clean-up of the Balog Creek and Agno River that were affected by the waste spill last year.
Philex was given a permit to resume operations for four months after paying a P1-billion fine and now, Pangilinan said he hopes the mine will be fully up and running by July.
Operations at Padcal mine were suspended in August last year following a waste spill that affected a nearby river. The government allowed Philex to re-open the mine earlier this week but only to produce tailings and keep its waste dam from breaking anew.
While the temporary permit will allow Philex to produce tailings to fill the void in its tailings pond and prevent another spill, Pangilinan said the miner can also produce concentrates or metals that can still be sold, generating revenues for the firm.
Philex has been booking losses about P200 million a month since August last year.