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Monday, December 08, 2003
Philex to bring mining down to level 782
PHILEX Mining Corporation-Padcal will push through with its plan to develop level 782, the lowest so far in the company's 45 years of operation, in the next eight years.
Philex's outgoing president Gerard Brimo told the company's officers and employees that by January or February next year, "we will have funds to finance (the development of) level 782," saying the $16 million loan from Japan is "almost in the bag."
Brimo, who will stay as a major stockholder of the company, was given a send-off cum Christmas party by Philex's employees and their families, together with Senior Vice President for Operations Leonardo Josef, who availed himself of an optional retirement effective Jan. 1, 2004.
Replacing Brimo and Josef are Dr. Walter Brown and Eulalio Austin Jr., the assistant resident manager, respectively.
Brimo expressed optimism the development of level 782 "will help (us) make money within the next five years."
Saying "it's time to move on," he requested the 2,500-strong mine employees to give to Brown the same support and cooperation he had received in the 18 years of his stay in the company.
"(There are) challenges ahead in the next three to four years to make money. Act professionally at all times, try and maintain good production, keep low cost of production," he added. "There is no substitute for team work - no man can do a job alone. Any organization must do the job as a team. We must be able to cope, accept and move on...difficulties come at hard times, but we must be able to accept difficulties."
Josef, meanwhile, said the next two years would be different, considering that the prices of metal are now increasing.
"There's no reason why (Philex) would not be successful in the next eight years...the organization is still intact, there is no factionalism. (If you) work together, there is no hump that can not be hurdled," he told those present during the gathering.
Brown, on the other hand, said the "company has the best copper to mine, even it is the only one. (And) we hope to operate level 782 at a minimum cost but of maximum speed."
Aside from several testimonials for Brimo and Josef, the municipal government of Tuba, led by Mayor Jose Baluda and Vice Mayor Florencio Bentrez, also presented the two with a resolution of gratitude, saying the good rapport and cooperation between Philex and the local government unit has contributed a lot to the development of the town and its constituents.
Tuba, together with Itogon town, plays host to Philex." Cheryl Cruz
(December 8, 2003 issue)
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