Philex ups capital to P8B

Stockholders of Philex Mining Corp. have approved the plan to increase the company’s authorized capital to P8 billion from P5 billion as it prepares to develop its high-grade copper and gold mine in Surigao del Norte. Based on company estimates, it needs as much as $500 mill…

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Manila Mining to reopen Placer gold mine, Sees metal prices remaining high

Manila Mining Corp. is moving fast to reopen its Placer gold project in Surigao del Norte to take advantage of the increasing prices of the precious metal. “We are confident that we are getting closer to our goal of reopening the Placer mine,” said Lepanto Consolidated Minin…

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Cebu Pacific offers seat sale

Gokongwei-owned Cebu Pacific Air, Inc.is offering a seat sale from all of its hubs in Manila, Cebu, Clark and Davao until Thursday for June, July, & August travel, vice-president for marketing and distribution Candice Iyog said. “We are positive that this seat sale will …

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Philex says Philippine mine project may cost $500 mln

Top Philippine miner Philex Mining Corp (PX.PS) said on Wednesday it may need $500 million to develop and operate a gold and copper project in the southern Mindanao island The company told Manila's stock exchange it expects to complete a pre-feasibility study on the Boyo…

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Filipino illiterates now at 5.2M

THE Department of Education (DepEd) is set to strengthen the education and literacy programs of youths and adults as the number of Filipino illiterates reached 5.2 million, and dropout rates stood at 6 percent in elementary and 7.5 percent in high school. “We are now at [a] …

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Literacy level dismal despite RP programs

News from the Department of Education is dismal. Some 5.2 million Filipinos are illiterate, with the country’s school dropout rate among the highest in Asia, even higher than Indonesia and Vietnam. “We are now at the dead end of education,” Education Undersecretary Manaros Bo…

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Surigao mine on hold, says Manila Mining

LISTED MANILA Mining Corp. will wait for economic conditions to rebound before moving forward with its gold and copper mine in Surigao del Norte, the head of the company said yesterday. "[The Kalayaan mine] is on hold and so far we have not done anything at the moment,&…

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Surigao to hold 5th Caraga Mining Summit

Collaborative efforts by public and private stakeholders to ensure sustainable and self-reliant mining communities will be highlighted at the 5th Caraga Mining Summit, to be held here on April 23-24 at the Hotel Tavern Convention Hall. The event is organized by the Caraga Cha…

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SB Corp hikes microloans

The Small Business Corp. (SB Corp.) has released a total P 176.8 million in loans to rural micro enterprises in 10 of the country’s poorest provinces. Of this total P118.4 million was funded under the Rural Micro-Enterprise Promotion Program (RuMEPP). RuMEPP, a seven-year pr…

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Miners report heavy losses as exploration activities continue

PUBLICLY LISTED Lepanto Consolidated Mining Co. is expecting P150 million in profits this year given higher gold production, the head of the mining company said yesterday. The expected profit from producing 45,000 ounces of gold in its Teresa and Victoria mines in Benguet wi…

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Wellex cleared to go into mining and oil exploration

The Securities and Exchange Commission has approved a change in the operations of Wellex Industries from a holding company engaged in manufacturing into a mining and oil exploration firm. Wellex Industries is a listed company owned by businessman William Gatchalian. Wellex wi…

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RORO port spurs economic activity in extreme southern part of Panaon Island

With President Gloria Macapagal Arroyos’ inauguration of the Benit RORO Port, the hinterland town of San Ricardo will metamorphose from being a sleepy town at the extreme southern part of Panaon Island, to a town bustling with economic activities. “You see, even the Preside…

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DPWH pledges to work '24/7' to complete Surigao-Davao Coastal Road project

Responding to the clamor by residents here for the expeditious completion of the Surigao-Davao Coastal Road project, Public Works and Highways Secretary Hermogenes Ebdane Jr. today pledged his agency and all the contractors involved in the project would work "24/7"…

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PGMA launches Eastern Seaboard portion of SRNH in Surigao City

President Gloria Macapagal-Arroyo launched the eastern seaboard portion of her Strong Republic National Highway (SRNH) in festive ceremonies held this morning at the Verano Port here. Joining the President in the historic occasion were Transportation Secretary Leandro Mendoz…

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PGMA to launch SRNH Eastern Seaboard enhanced route

President Gloria Macapagal-Arroyo will inaugurate on Wednesday (April 15, 2009) the enhanced leg of the oldest roll-on/roll-off (Ro-Ro) route of the 919-kilometer land and 137-nautical mile (sea) Strong Republic National Highway (SRNH) Eastern Seaboard trunkline. The Presid…

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