About
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 which is directly under PX, Philex Gold Philippines, Inc. (PGPI), Silangan Mindanao Exploration Co., Inc. (SMECI) and Silangan Mindanao Mining Co., Inc. (SMMCI); and the oil and gas business under PXP Energy Corporation (PXP), a 30.4% owned company. On July 15, 2016, PXP and its subsidiaries ceased to be subsidiaries of PX as a result of loss of control through property dividend declaration. Currently, the group focuses on its core mining business.
PX and its subsidiaries are primarily engaged in large-scale exploration, development, and utilization of mineral resources. The Company has been operating the Padcal mine for the past 66 years using the underground block-cave method. It is one of the longest-operating mines in the country and produces copper concentrates, containing copper, gold, and silver. PGPI operated the Bulawan mine in Negros Occidental until its decommissioning in 2022. SMECI, through SMMCI, owns the Silangan project covering the Boyongan and Bayugo deposits in Surigao del Norte.
Source: SEC Form 17-A (2024)