Pangilinan-led Philex Mining Corp. on Monday said it aims to expand its gold mine operations as it signified an interest to acquire shares of the Macawiwili Gold Mining and Development Co. Inc. (MGMDCI). Know more:
Pangilinan-led Philex Mining Corp. on Monday said it aims to expand its gold mine operations as it signified an interest to acquire shares of the Macawiwili Gold Mining and Development Co. Inc. .
Philex said it will conduct due diligence and scout drilling activities on the property of MGMDCI covered by its Mineral Production Sharing Agreement in Itogon, Benguet. “Our interest to pursue investments in the Macawiwili property is part of our business direction for this year to broaden interest in ‘green metals’ through mergers and acquisitions,” Philex President and CEO Eulalio B. Austin, Jr. said.
Philex Chairman Manuel V. Pangilinan said the planned acquisition of MGMDCI’s mine is a “good addition or extension to the Padcal mine.”
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