Wednesday, January 30, 2008 Philex spends P53 million for environment
PHILEX Mining Corporation spent more than P53 million for its environmental protection and enhancement program for the host communities for the last quarter of last year.
The amount was the cost of mitigating measures allotted by the firm to minimize the negative impact of its mining operations on land and water resources and air quality.
The bulk of the environmental protection fund was used for the maintenance and operation of the company's tailings ponds 1, 2 and 3 and for the underground ventilation system repair and maintenance.
The mines tailings dams accommodate the wastes and chemicals from the company's milling and mining operations.
The law mandates mining companies to allocate funds for the environment as part of their Social Development and Management Program.
For the last quarter of last year, Philex produced 20,338.40 dry metric tons (DMT) of copper concentrate containing 5,113,281.10 kilograms of copper; 1,118,906 grams of gold; and 1,056,577 grams of silver, as contained in the company's quarterly report furnished the Benguet Provincial Board.
The production yielded 2.172 million DMT of mill tailings impounded at the company's tailings dam 3, located in Barangay Ucab, Itogon.
The company spent P53,720,855 for its environmental protection and enhancement program, which includes, reforestation and forest protection, surface subsidence control operation, garbage collection (from mine camp to sanitary landfill) and monitoring of chemical wastes.
The amount was allotted from the company's operational fund. (JC)
