PANGILINAN-LED Philex Mining Corp. is considering prolonging the operation of its underground mine in Padcal, potentially overlapping with the start of the commercial production at Silangan mine in 2025, an official said.
"Studies are ongoing," said Eulalio Austin Jr., president and chief executive officer of Philex. "The extension of Padcal's operation will be dependent on the study of the remaining mineable reserve, favorable price of copper and gold, as well as cost of producing the metals moving forward and obtaining the required government permits. If prices hold on to the levels where they are now, which we consider high, then there is a possibility of extension," he added.
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