Philex Mining Corporation (Philex), one of the oldest and largest copper and gold producers in the Philippines, recently unveiled its USD1 billion Silangan Project for the processing and production of final products — copper cathode and gold ore – in Barangay Timamana, Tubod, Surigao del Norte.
The most critical component of the project is the grinding complex, which showcases major equipment such as the SAG (Semi Autogenous Grinding) mill, mill liner handler and cyclone cluster pump at the process plant.
The process plant also includes copper leaching and gold leaching operation, with the copper leaching from run of mine ore to copper cathode production, making it the first of its kind in the country. The final products are copper cathode and gold ore.
In a disclosure to the Philippine Stock Exchange, Philex said that the project is expected to spend total capital expenditures (CAPEX) of around USD1 billion on its construction and development, and ramp-up production programs until it reaches a full capacity of 4 million tons per year.
This amount excludes sustaining CAPEX and is on top of the Company’s pre-development investment in the Project of PHP18 billion.
In terms of social development, even if the project is not yet operating, Silangan spends around PHP5 million per year on its social development and management program. Based on the In-Phase Mine Plan and on the latest updates on the construction and procurement process, the Silangan Project is slated to have its first metal production by March 2026.
Philex/Silangan President and CEO Engr. Eulalio B. Austin Jr. expressed gratitude to Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo Loyzaga, who was guest of honor and was still DENR chief at the time of the project unveiling, for her strong support and ensuring that the project will start commercial operation within the term of President Marcos Jr.
Surigao del Norte Governor Robert Lyndon Barbers cited the Silangan Project saying that after 12 years the first large-scale copper-gold mining operation will be opened in the province. “As governor, I am grateful to have been part of history that will provide great economic, employment, and development opportunities for people,” he said.
Congressman Ace Barbers expressed optimism and enthusiasm with the unveiling of the project, saying that it would provide the province with better economic benefits and opportunities.
