PHILEX Mining Corporation president and chief executive officer Eulalio Austin on Saturday said they continue to await the permanent lifting order of government, which will allow the mines company to resume full operations.
"We are going back to government right now and saying that we have completed the remediation program we have lined up," Austin
told members of media, referring to works implemented after the August 1, 2012 incident when the tailings dam of Philex's
Padcal operations leaked.
This as the exec stressed remediation programs implemented do not only ensure the short-term stability of its facilities but more importantly, long-term.
"Right now we can already say that the dam is already stable.
But we want to put a rest to all doubts that the same incident will happen again," Austin
Right now, we are at the upper range and we are negotiating for a lower fine," Austin
So far, Philex Mining Corporation
has already spent P323 million on its remediation measures.
estimates a total cost of P800 million to satisfy its long-term works.
In unveiling ceremonies Saturday morning, Austin
stressed it is not only its host communities which Philex
is willing to help but the Summer Capital as well.