Philippine's Listed Mining Companies

Since I have discussed gold in the previous blog "Gold Rush", I wanted now to know the mining companies in the Philppines which are listed in the Philippine Stock Exchange. Below are the mining companies I have taken in PSE website, www.pse.com.ph/. Not all of these companies are into gold production. They were just classified in the mining sector by the PSE. If you want to have an overview on how these sectors were classified, please go to 

http://www.pse.com.ph/html/ListedCompanies/guide/psesectorclassificationguide.pdf

 for more info. Pictures here courtesy of Flickr and do not represent the actual mining operations of the companies but rather a visual effect on the overall activities of a mining company.

1. ABRA MINING AND INDUSTRIAL CORPORATION

Abra Mining & Industrial Corporation (AR) was incorporated on September 28, 1964 to engage in the exploration, development, exploitation, process, manufacture, extraction, milling and sale of cement and metal concentrate, marble, building materials and other minerals such as copper, gold, silver, iron and lead. AR is also engaged in the processing and manufacture of non-metals for industrial and commercial purposes at wholesale only.

AR's business lines consist of the commercial utilization of limestone, lime, shale, silica, sand, gold, silver, copper, zinc, magnetite iron sand and other mineral deposits existing within the contract area. The Company has four approved mining claims, three of which are located in Abra and one in Ilocos Sur. However, AR has not started normal and commercial extraction of mine products as of end 2010.

2. APEX MINING CO., INC.

Apex Mining Company, Inc. (APX) was incorporated on February 26, 1970 as a company principally engaged in the business of mining and production of gold, silver, copper, lead and other precious metals. APX listed its shares publicly in 1974.

On December 22, 2005, the Mines and Geosciences Bureau (MGB) approved the Company's Mineral Production Sharing Agreement (MPSA) covering 679.02 hectares situated in Maco, Campostela Valley. On June 25, 2007, MGB approved the Company's second MPSA covering an additional 1,558.5 hectares near the same area. APX entered into a service contract with local cooperatives composed of the indigenous people and local government units of Masara lines to explore the Sagaysagay vein discovered within the area of its second MPSA in December 2008. On January 1, 2009, APX commenced commercial operations after achieving target production volume requirements.

In October 2009, Crew Gold Corporation completed its divestment in the local mining industry and sold its equity share in APX, as well as to local affiliates including Teresa Crew Gold (Philippines), Inc. and Mapula to Mindanao Gold Ltd. (Mindanao Gold), an entity incorporated and registered in Malaysia, for US$7 million. As of December 31, 2010, APX's majority shareholder is Mindanao Gold, whose ultimate parent company is Abracadabra Speculative Ventures Inc., an entity incorporated and doing business in Malaysia.

3. ATLAS CONSOLIDATED MINING AND DEVELOPMENT CORPORATION

Atlas Consolidated Mining & Development Corporation was incorporated as Masbate Consolidated and Mining Company, Inc. on March 9, 1935 as a result of the merger of assets and equities of three pre-war mining companies, namely, Masbate Consolidated Mining Company Inc., Antamok Goldfields Mining Company and IXL Mining Company. Thereafter, AT amended its articles of incorporation to reflect the present corporate name.

AT is engaged in mineral and metallic mining and exploration and development and primarily produces copper concentrates and gold with silver, magnetite and pyrites as major by-products. Its five subsidiaries and three affiliates are involved in the mining business and these are Carmen Copper Corporation, Berong Nickel Corporation, TMM Management, Inc., Ulugan Nickel Corporation, Ulugan Resources Holdings, Inc., Nickeline Resources Holdings, Inc., Atlas Exploration Inc., and Amosite Holdings Inc.

The Company organized and registered in 2005 its water subsidiary, AquAtlas, Inc. with a primary purpose of providing and supplying wholesale/bulk water to local water districts and other clients and to make available other related and value added services.

4. ATOK-BIG WEDGE CO., INC

Atok-Big Wedge Company, Inc. (AB), formerly Atok Big Wedge Mining Co., Inc., was incorporated and registered with the Securities and Exchange Commission (SEC) on September 4, 1931. Since its incorporation, the Company engaged in mining as its primary purpose, producing gold as its major product and silver as a by-product.

Although AB changed its primary purpose in 1996 from mining to general investment, it reverted back to its original purpose of engaging in exploration and development of mining, oil, gas, and other natural resources when it amended its articles of incorporation, which was approved by the SEC on May 24, 2010. AB has two wholly-owned subsidiaries, Atok Gold Mining Co., Inc. and AB Stock Transfers Corporation.

In November 2009, Boerstar Corporation, a Philippine holding company, became the controlling and majority shareholder of AB. At present, AB is exploring the possibility of entering into a business venture with local and foreign entities to maximize the potential of its mineral properties and to enhance its earnings in the very near future. It will abide by the principle of sustainable and socially acceptable mineral resources development.

5. BENGUET CORPORATION

Benguet Corporation (BC) was established on August 12, 1903 as Benguet Consolidated Mining Company. It changed its name to Benguet Consolidated, Inc. in 1956, and finally to its present corporate name in 1980. The Company explores for mines, currently produces and markets gold, refractory chromite, nickel laterite ore, limestone and aggregates; and through its subsidiaries, provides eco-tourism, engineering and construction, reforestation, trucking and warehousing services, sells industrial equipment and supplies, and develops water resources and real estate projects.

The Company reopened Benguet Gold Operations on a limited scale in 2003 through the Acupan Contract Mining Project (ACMP), developed Sta. Cruz Nickel Project in 2007, and continued to review and package its various mineral properties for future development or sale. In 2010, BC resolved a long outstanding issue with the claimowner on the Kingking Project. The Company invested in the development of the Sta. Cruz Nickel, Balatoc Tailings and Surigao Coal projects, and the expansion of ACMP. BC continues to hold interests in the Acupan Gold, Ampucao Gold Copper, Pantingan Gold, BOLCO Gold, and the Ilocos Norte and Kalinga FTAA prospects.

BC is also into healthcare services through its Benguet Laboratories trucking and warehousing through its subsidiary, Arrow Freight Corporation; trading industrial equipment and supplies through Benguetrade, Inc.; and real estate development and lime kiln operation through BMC Forestry Corporation.

6. CENTURY PEAK METAL HOLDINGS CORPORATION

Century Peak Metals Holdings Corporation (CPM) was originally incorporated as Fil-Hispano Corporation on December 30, 2003 to engage in the business of investment holding. CPM was initially a wholly-owned subsidiary of Paxys, Inc. until it divested its shareholdings in the company distributing it as property dividends to all its shareholders in January 2004. On February 15, 2008, the Securities and Exchange Commission (SEC) approved the change in the Company's corporate name to its present one. Subsequently, as well as the amendment of CPM's primary purpose to promoting, operating, managing, owning, or investing in corporations that are engaged in mining activities.

The Company has two subsidiaries, its wholly-owned subsidiary Century Peak Corporation (CPC), and its 55%-owned subsidiary, Century Hua Guang Smelting Incorporated (CGHSI). The principal activities of CPC and CGHSI is to invest in and engage in the business of operating and mining of mineral resources in the Philippines such as iron ore, copper, gold, silver, lead, manganese, chromites, nickel, etc. and prospecting, exploring, milling, concentrating, converting, smelting, treating, refining and manufacturing, and preparing for the market, whether export or domestic, and producing and dealing in all its products and by-products.

7. DIZON COPPER-SILVER MINES, INC.

izon Copper-Silver Mines, Inc. (DIZ), was incorporated on August 18, 1966 to acquire, purchase, lease, hold, work and operate mines, mining claims, grounds or lodes in the Philippines or in foreign countries.

DIZ has 57 mineral claims in Barangay Buhawen, San Marcelino, Zambales with a total area of 513 hectares. These claims were developed and operated by Benguet Corporation (BC) for 20 years under the Operating Contract entered into by and between DIZ and BC on September 6, 1975. After more than 20 years of occupation, exploration and operation of mineral claims, BC turned over its operating rights to DIZ by virtue of a Memorandum of Agreement dated November 25, 1997 following the closure of mining operations. Mining operations were forced to stop after a landslide caused by heavy rains destroyed mine infrastructures, accompanied by a sudden fall of metal prices in the world market. This made the rehabilitation of the mine facility and resumption of operations impossible.

With the suspension of its mining operations, the Company's present activities are confined to the care and maintenance of the mine site and the mining properties therein. DIZ is currently looking for a new partner to operate the mines and recover the residual gold from its tailings dam. DIZ's port facility, Port Dizon, located in Subic, Zambales may still be used as loading facility for ore and aggregates should the company resume mining operations.

8. GEOGRACE RESOURCES PHILIPPINES, INC

GEOGRACE Resources Philippines, Inc. (GEO) was incorporated as La Suerte Gold Mining Corporation (LSGMC) on April 20, 1970 primarily to engage in the mining business. In 1995, the stockholders of LSGMC approved the realignment of the Company's main business activities from that of a mining company to that of an investment holding company, and the change in the Company's name from LSGMC to Global Equities, Inc. In 2006, the Company changed its corporate name to its present name, and shifted its primary purpose back to mining and exploration of mineral resources.

GEO entered into two operating agreements covering operating mining claims with valid and subsisting Mineral Production and Sharing Agreements and a number of heads of agreement to acquire rights to explore, develop and operate mining claims. At present, the Company is operating the Ayungon mining claim in Ayungon, Negros Oriental, the Isabela mining claim in Dinapigue, Isabela, the Masbate mining claim located in the province of Masbate, and the Zambales mining claim in the province of Zambales.

9. LEPANTO CONSOLIDATED MINING COMPANY

Lepanto Consolidated Mining Company (LC) was incorporated in 1936 and operated an enargite copper mine until 1997, after which, LC shifted to gold bullion production through its Victoria Project. LC sells its gold and silver bullion production to Heraeus Ltd. (Hong Kong) while its copper concentrate production are sold through Trafigura Beheer B.V. Amsterdam and Shanghang County Jinshen Trading Co., which are metals traders based in New Jersey, USA, and Fujian, China, respectively.

LC and its subsidiaries are involved in other businesses such as hauling, diamond drilling services, insurance, and manufacture of diamond tools. LC has two Mineral Production and Sharing Agreements for areas located in Mankayan, Benguet. The Company's subsidiaries are Shipside, Inc., Diamond Drilling Corporation of the Philippines, Lepanto Investment and Development Corporation, Diamant Boart Philippines, Inc., and Far Southeast Gold Resources, Inc.

10. MANILA MINING CORPORATION

Manila Mining Corporation (MA) was incorporated on May 20, 1949 to engage in the mining and exploration of metals. MA started its mining operations in Placer, Surigao del Norte in 1981. Until 2001, MA was producing gold bullion through a carbon in-pulp plant and copper concentrates containing gold, silver and copper from MA's copper flotation plant. In July 2001, MA suspended its mining and milling operations pending receipt of the permit from the Department of Environment and Natural Resources to further elevate and operate MA's tailings pond number seven. On January 29, 2007, MA obtained the release of its Renewed Exploration Permit covering 2,462.9 hectares in Surigao del Norte.

MA has two existing Mining Lease Contracts with the government located in Surigao del Norte and three Mineral Production Sharing Agreements covering Surigao del Norte and Agusan del Norte. MA is an affiliate of Lepanto Consolidated Mining Company. MA has one wholly-owned subsidiary, the Kalayaan Copper-Gold Resources, Inc.

As of December 31, 2010, the Company has no products or services as operations are currently suspended.

11. NICKEL ASIA CORPORATION

Nickel Asia Corporation (NIKL) was incorporated on July 24, 2008 as a company primarily engaged in the business of mining of all kinds of ore, metals and minerals. On February 25, 2009, the stockholders of NIKL and Nickel Asia Corp. (Nickel Asia), a company incorporated under the laws of British Virgin Islands to acquire and hold the nickel mining and processing assets of members of the founding shareholders, approved the plan of merger between the Company and Nickel Asia. The Securities and Exchange Commission approved the merger on April 15, 2009 with NIKL as the surviving company.

On or before August 4, 2006, NIKL acquired ownership of Hinatuan Mining Corporation (HMC), 60% of the shares of Rio Tuba Nickel Mining Corporation (RTN) and 20% of the shares of Cagdianao Mining Corporation (CMC). The Company received tax free property dividends from HMC in the form of HMC's investment in subsidiaries in CMC and Taganito Mining Corporation (TMC) on November 30, 2009. The said declaration of property dividends were approved by the SEC and Bureau of Internal Revenue, giving the Company direct ownership in CMC and TMC. As a result of the reorganization, NIKL owns all of the outstanding shares of HMC and CMC, 65% of TMC and 60% of RTN.

NIKL has three more subsidiaries namely, Falck Exp. Inc., La Costa Shipping and Lighterage Corporation, and Samar Nickel Mining Resources Corporation. NIKL is the largest nickel mining company in the Philippines and also one of the largest global suppliers of lateritic nickel ore from its operating mines in Surigao del Norte, Dinagat Island and Palawan.

12. NIHAO MINERAL RESOURCES INTERNATIONAL, INC.

Formerly Magnum Holdings, Inc., NiHAO Mineral Resources International, Inc. (NI) was incorporated on July 9, 1975. On June 28, 2007, the SEC approved the change in the Company's primary purpose from a holding company to that of exploration, development and operation of mineral properties and the mining of metallic and non-metallic minerals. The Company also subsequently changed its corporate name to NiHAO Mineral Resources International, Inc.

NI is engaged in mineral exploration, development, and production with focus on nickel laterite projects. As of December 31, 2009, NI has four mining claims located in the provinces of Zambales, Misamis Oriental, North Cotabato, and Antique. The Company also operates three small-scale mining claims in Botolan, Zambales and one in Manticao, Misamis Oriental. All of NI's mining claims cover a total of approximately 20,841 hectares.

The Company's subsidiaries and affiliates consist of Mina Tierra Gracia, Inc., Visayas Ore Philippines, Inc., Bountiful Geomines, Inc., Companhia Nube Minerale, Inc., Companhia Minera Tierra, Inc. and Minedomain, Inc.

13. OMICO CORPORATION

Omico Corporation (OM) was incorporated on August 30, 1968 to operate, prospect, mine and deal with all kinds of ores, metals and minerals. The Itogon Gold Project of OM lies within the Baguio gold district, in the municipality of Itogon, Benguet. The property is prospective for both low-sulfidation epithermal vein gold mineralization and underlying porphyry Cu-Au mineralization. OM has previously undertaken small-scale underground mining and underground development on the property. On April 8, 2009, the Company signed a Mineral Production Sharing Agreement with the Department of Environment and Natural Resources for the Itogon project.

OM has also expanded its business scope and diversified its operations into property investment and development of low-cost subdivision housing units with OM as landowner and the joint venture partner as developer. The Company's Sta. Rosa Homes project, a residential undertaking comprised of 1,071 housing units, is currently ongoing and expected to be completed within five years from 2006 to 2010. OM also has a joint venture agreement on property development with Robinsons Homes, Inc. as developer, whereby OM contributed three parcels of land located in Tagaytay City. Robinsons Homes will develop on the said property a high-density two-phase residential subdivision, consisting of five 5-storey residential condominium buildings. OM also has an agreement with Sta. Lucia Realty and Development, Inc., Asian Pacific Estates Development Corporation (APEDC) and Asian Empire Corporation (AEC), whereby Sta. Lucia will develop into residential and commercial subdivisions the parcel of lands situated at Pinmaludpod, Urdaneta and owned by OM, APEDC and AEC.

14. ORIENTAL PENINSULA RESOURCES GROUP, INC.

Oriental Peninsula Resources Group, Inc. (ORE) was incorporated on April 16, 2007 as a holding company intended primarily to consolidate and operate companies that own mining tenements located within the Philippines.

ORE is focused on the mining operations of its subsidiary, Citinickel Mines and Development Corporation (CMDC). Currently, the Company has a 94% equity interest in CMDC, which is the sole claim owner of the Pulot Mine and the Toronto Mine located in the Province of Palawan, namely in the municipalities of Sofronio Espanola and Narra. CMDC is presently collaborating with international affiliates in pursuing the extraction of ore reserves and sustainable development of mineral resources within the widely known Palawan ophiolite zone.

15. PHILEX MINING CORPORATION

Philex Mining Corporation (PX) was incorporated on July 19, 1955 to primarily engage in mining activities. The Company and its subsidiaries are organized into two main business groupings: the mining business under the Philex Mining Corporation, and the oil and gas business under the Philex Petroleum Corporation (PPC).

PX currently has the Padcal Mine in Benguet as its only operating segment. The Padcal Mine is on its 53rd year of operation producing gold, copper and silver as principal products.

The Company has long been a silent investor in oil properties owning participation in several service contracts. In 2007, PX incorporated PPC to engage in petroenergy business, of which 49% was subsequently acquired by Anatolian Property BV (APB), a Netherlands company whose shareholders are funds-managed by Ashmore Investment Management Limited. In July 2009, PX repurchased APB's interest and gained full control over PPC. In September 2010, PX transferred its investments in energy assets to PPC which holds 38.82% of Forum Energy plc, a UK-based oil exploration company owning participation interest in several service contracts in the Philippines, particularly in northwestern Palawan.

16. SEMIRARA MINING CORPORATION

Semirara Mining Corporation (SCC) was incorporated on February 26, 1980 to explore, develop, and mine the coal resources in Semirara Island located in Caluya, Antique. The Company executed a coal operating contract with the Department of Energy in 1977 (amended 1981) for the exploration, development, mining and utilization of coal in Semirara Island, which has an estimated coal reserve of 150 million metric tons.

SCC generates majority of its revenues through the production of sub-bituminous coal, with additional revenues coming from coal handling services at the Calaca Power Plants of the National Power Corporation.

SCC is a majority-owned subsidiary of DMCI Holdings, Inc.

17. UNITED PARAGON MINING CORPORATION

United Paragon Mining Corporation (UPM) is a Philippine corporation whose main business is the exploration, development, exploitation, recovery and sale of gold. UPM was the result of a merger in 1989 between United Asia and Geothermal Resources (UAR) and Abcar Paragon Mining Corporation, in which UAR became the surviving entity. UAR was then renamed in 1990 as United Paragon Mining Corporation.

UPM's principal mining operation is the Longos Mine at Paracale, Camarines Norte. The Company operated an open pit area in the mine from August 1988 to June 1994, and by April 1994, UPM began the commercial operations of the underground mine at the same site. However, it was placed under care and maintenance in December 1998 because of serious depletion of economic reserves, high operating costs and low metal prices. In November 2003, the Company decided to suspend further drilling in Longos. There were no gold and silver recovered in the years 2006 to 2009 since UPM's mining and milling operations are still suspended.

Another prospective area for UPM's exploration is San Mauricio located in Jose Panganiban. The Company has plans of continuing exploration drilling in San Mauricio once the necessary clearance from the Department of Environment and Natural Resources (DENR) is secured. UPM is in the process of finding a strategic partner/ investor and/ or creditor to help finance the amount required for the rehabilitation and further development of Longos Mine.