Philex mulls shutdown of tailings pond

PHILEX Mining Corporation is considering the closure of its tailings pond following the discharges of water and sediment from the mine pit due to heavy rains.

Vice president for Corporate Affairs Mike Toledo said the company is looking at many scenarios for the situation they are facing now.

“We are looking at many options and one is to close tailings pond 3 and rehabilitate it,” Toledo said, adding that the company’s last option is to totally close tailings pond 3 and build another.

Philex Mining suspended its Padcal operations last August 1 due discharges of water and sediment from the tailings pond due to heavy rains. The initial leak left the company suffering from a succession or minor seepages anew.

The Mines and Geosciences Bureau (MGB) and the Environmental Management Bureau (EMB) have been conducting a technical assessment on site since the initial leak.

Results of the investigations are up to become public anytime this week, including a report on possible liabilities of the mine firm.

Suspension of operations has been estimated to reach over P200 million in losses per month, with losses per day estimated to reach P30 million to P40 million.

Philex Mining mobilized a task force for the cleanup of tributaries affected by the recent tailings leak from Padcal Mine.

To date, the company is undergoing massive cleanup in an effort to prevent silt from reaching convergence areas going to San Roque Dam and to keep safe water going to the lowlands.