Apex Mining reports losses after landslide

Drone shot of the landslide at Brgy. Masara in Maco, Davao De Oro, taken around 11 a.m. on Wednesday morning, February 7, 2024.
Drone shot of the landslide at Brgy. Masara in Maco, Davao De Oro, taken around 11 a.m. on Wednesday morning, February 7, 2024.Wander Rider v2

THE Apex Mining Co. Inc. reported a business loss and sales reduction in the Philippine Stock Exchange (PSE), following the tragic landslide outside the mining company’s jurisdiction at Zone 1, Barangay Masara, Maco, Davao De Oro on Tuesday night, February 6, this year.

In a statement on February 7, the Razon-controlled mining company said that they are now lowering the capacity of their daily operation which greatly affects the gold and silver production, significant to the rapid growth of the Philippine economy.

The tragedy also brought forth restricted access to the mine site limiting only to receiving supplies, other service supports, and for employees/miners.

“Following the landslide that happened in Barangay Masara, Maco, Davao de Oro at 7:30 p.m. on Feb. 6, Apex Mining is on limited operations because it is focusing on fully supporting the rescue operations led by the provincial government of Davao de Oro,” Apex Mining stated on their press release.

However, despite the situation, comprehensive strategies are expected to be executed once the government and humanitarian and disaster risk reduction teams have completed the operation on ground zero.

“Strategies will be implemented to address production gaps once the rescue, retrieval, and clearing operations have been completed,” the company added. 

It can be recalled that Apex clarified the speculations and misinformation circulating across social media that the incident happened inside the company’s operation area or 500 meters away from the company gate. 

“The area where the slide happened is outside the mine site of Apex Mining. However, the said area is where the buses that ferry the employees of the mining company wait for its passengers” it said.

Mines and Geosciences Bureau (MGB)-Davao Geosciences Division Chief Beverly Bravante confirmed in a Budyong online press conference earlier this week that Brgy. Masara is one of the areas in the province that has long been listed as a “no build zone" since 2008.

Currently, the Emergency Rescue Teams (ERTs) of Apex Mining and other companies, including contractors, have been collaborating with government rescuers in search and rescue operations. Apex Mining has provided heavy equipment and rescue gear to support the efforts of the local government.

Based on recent death updates from the Municipal Disaster Risk Reduction Management Office of Maco (MDRRMO-Maco), around 71 bodies have been retrieved while 32 individuals were injured.

Meanwhile, as per the recommendation of the Provincial Local Government Unit of Davao de Oro (PLGU-Davao de Oro), through their Management of the Dead and the Missing (MDM) Cluster, the tally of missing individuals is temporarily halted as families of the victims need to file a report to the Incident Command Post (ICP) for validation. DEF

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Drone shot of the landslide at Brgy. Masara in Maco, Davao De Oro, taken around 11 a.m. on Wednesday morning, February 7, 2024.
Apex Mining clarifies landslide outside site, joins rescue efforts
Drone shot of the landslide at Brgy. Masara in Maco, Davao De Oro, taken around 11 a.m. on Wednesday morning, February 7, 2024.
Apex Mining helps 1.5K families affected by landslides, flooding in Davao de Oro

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