Philex Mining Corp. plans to begin operations at its Silangan copper-gold project in Surigao del Norte by the first quarter of next year, even if it has yet to secure a development partner.
Philex president and CEO Eulalio Austin Jr. said the company remains on track for commercial production by 2026. “We are on track for 2026 commercial production. The tailings plant is ready to receive tailings from the processing plant, and we’ve already reached the ore body and are now stockpiling ore from underground,” Austin told reporters at the Mining Philippines International Conference and Exhibition in Taguig City.
He said mechanical installation of the processing plant is expected to be completed by December 2025, with debugging to begin by early 2026, in time for the first metal pour before the end of the first quarter.
Austin noted that if no partner is secured in time, Philex will start operations on a smaller scale, initially producing about 2,000 tons of ore per day. Output will gradually increase as more investments and revenues are realized, with full capacity expected to reach 12,000 tons daily by the 12th year of operations.
The company remains in talks with several local and foreign groups interested in investing in the project, Austin said, but declined to provide details.
Philex earlier announced it would invest an additional $1 billion in the Silangan project, on top of its regular capital expenditures and the ₱18-billion pre-development spending.
The Surigao mine is seen to replace output from Philex’s Padcal gold-copper mine in Benguet, the company’s only operating asset at present.
