Philex to raise Padcal mine storage facility
By Catherine Talavera | The Philippine Star | December 16, 2021 12:00am
MANILA, Philippines — Listed Philex Mining Corp. has received government approval to raise the tailing storage facility (TSF) in its Benguet mine.
In a disclosure to the Philippine Stock Exchange yesterday, Philex said the Department of Environment and Natural Resources–Environmental Management Bureau (DENR-EMB) granted the company’s request for amendment of its Environmental Compliance Certificate, covering the raising of the TSF No. 3 project located in Sitio Catcatbal, Barangay Ampucao, Itogon, Benguet.
“The amendment will raise the height of dam embankments and offset dike from 640 meters above sea level (masl) to 647 masl, or an additional dam height of 7.0 meters,” Philex said.
“This amended ECC is in furtherance to the extension of the life of mine of PMC’s Padcal mine for an additional two years or until Dec. 31, 2024,” Philex said.
In June, Philex announced the extension of the lifespan of the Padcal mine after the completion of confirmatory drilling and related technical studies on the mining methodology and TSF No. 3, successfully identified that there are additional mineable reserves in its Padcal Mine that are feasible for mining from the end of 2022.
The additional mineable reserves are expected to be mined over two years.
The updated remaining mineable reserves as of end-March 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.
“This new estimate includes additional reserves of 16.2 million tons from the previously declared estimated mineable reserves as of end 2020 of 17.4 million tons with an average gold and copper grades of 0.27 g/t and 0.18 percent that was reported in February 2021,”the company said.
The Padcal mine has been in operation since 1958 and is the first underground block cave operation in the Far East. It has been producing copper concentrates, with gold and silver as by-products.
Philex said the latest mineable reserves estimate was undertaken by Engr. Ricardo Dolipas II, an accredited competent person by the Philippine Society of Mining Engineers (PSEM) under the Philippine Mineral Reporting Code (PMRC) guidelines.
It said the life extension of the mine would also give the company more time to bring the Silangan project to development and commissioning stages and continue employing 1,831 employees.
Source: Philstar