Mining Companies Listed in the Philippine Stock Exchange (PSE)

The news of US double dip recession and European debt crisis has sent the GOLD prices to more than 1800$ per ounce. PSE investors who want to have an exposure in gold sought refuge on the Mining stocks.

In the PSE, it’s been the Mining Sector that is moving the index to a new high.

For those interested to make an investment on the Mining sector, I have made a list of Mining Companies (with their Market Capitalization as of Aug.25,2011) listed in the Philippine Stock Exchange.

1. APEX Mining Company ( Ticker : APX/B – Market Cap : 5.5billion php)

- 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.

2. ABRA Mining and Industrial Corporation (Ticker : AR – Market Cap : 823million php)

-         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.

3. Atlas Consolidated Mining and Development Corporation ( Ticker : AT – Market Cap : 23billion php)

- 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.

4. Benguet Corporation (Ticker : BC/B – Market Cap : 4.5billion php)

- 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.

5. Dizon Copper Silver Mines Inc. (Ticker : DIZ – Market Cap : 677 million php)

- Dizon 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.

6. GEOGRACE RESOURCES PHILIPPINES, INC (Ticker : GEO – Market Cap : 1.6billion php)

-         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.

7. LEPANTO CONSOLIDATED MINING COMPANY (Ticker : LC/B – Market Cap : 78billion php)

- 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.

8. MANILA MINING CORPORATION (Ticker : MA/B – Market Cap : 15.8billion php)

- 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.

9. NICKEL ASIA CORPORATION (Ticker : NIKL – Market Cap : 26.3billion php)

- Nickel Asia Corporation (NIKL) was originally formed and operated as a British Virgin Islands company (NAC BVI) in 2006 by combining Hinatuan Mining Corporation; which owned majority stakes in Taganito Mining Corporation and Cagdianao Mining Corporation and Rio Tuba Nickel Mining Corporation under a single entity. On July 24, 2008,NIKL was registered with the Philippine SEC and in March 2009, pursuant to a plan of merger between NIKL and NAC BVI, the Company was reorganized to make NIKL the holding company of NAC BVI’s subsidiaries.

NIKL is a global supplier of lateritic nickel ore, and operates as a nickel mining company in the Philippines. The Company owns four operating mines,namely: Rio Tuba, Taganito, Cagdianao and Taganaan sites, all of which are located in the southern half of the country. As of December 2010, NIKL’s subsidiaries includes Hinatuan Mining Corporation, Taganito Mining Corporation, Cagdianao Mining Corporation, Rio Tuba Nickel Mining Corporation, Falck Exp Inc., La Costa Shipping and Lighterage Corporation, Samar Nickel Mining Resources Corporation, and Cordillera Exploration Co., Inc.

10. ORIENTAL PENINSULA RESOURCES GROUP, INC. (Ticker : ORE – Market Cap : 7.8billion php)

- 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.

11. PHILEX MINING CORPORATION (Ticker : PX – Market Cap : 138billion php)

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.

12. SEMIRARA MINING CORPORATION (Ticker : SCC – Market Cap: 75.1 billion php)

- 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 Plants from the Company’s wholly-owned subsidiary, SEM-Calaca Power Corporation.

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

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Source : Philippine Stock Exchange (http://www.pse.com.ph)