Philex Mining says rehab plan for Silangan project in place

Posted at 10/29/2012 2:52 PM | Updated as of 10/29/2012 6:27 PM

MANILA, Philippines - Philex Mining Corp. on Monday has come up with a rehabilitation program for its Silangan project in Surigao del Norte, even before the actual operations have begun.

"We assure the community that Philex Mining will take care of the Silangan Project even after its operations," Victor Francisco, vice president for Environment and Community Relations at Philex Mining, said, in a sattement.

The Final Mine Rehabilitation and Decommissioning Plan (FMRDP)is a pre-requisite for a mining company to be able to start operations, as mandated by the Philippine Mining Act of 1995.
The rehabilitation program will be implemented once the mine is closed.

"This ensures that even before the actual operations, a rehabilitation plan as well as funds for such are in place already," Francisco said.

Earlier, Philex Mining said it was on-track to start production in Silangan by 2017. The project covers the Boyongan and Bayugo deposits, which are currently under prefeasibility stage.

Silangan Mindanao Exploration Co., Inc. (SMECI), through its subsidiary Silangan Mindanao Mining Co., Inc. (SMMCI), owns the Silangan Project. SMECI is a wholly owned subsidiary of Philex Mining through a holding company and Philex Gold Philippines, Inc. (PGPI).