Philex to cooperate with MGB on dam spill P1B fee

TUBA, Benguet -- Philex Mining Corp. will cooperate with the Mines and Geosciences Bureau, which has ordered the company to pay more than P1 billion over the tailings dam spill at its Padcal mine site here and submit a work plan as the basis for using the fund.

           

 “We will work closely with the MGB on this, as we welcome its decision that the amount to be paid would be used for remediation and rehabilitation of the affected areas,” said Michael Toledo, senior vice president for Corporate Affairs at Philex Mining.

Jasareno said the money shall be made payable to MGB, which will remit it toward the Mine Wastes and Tailings Reserve Fund. 

The fund will then be used to compensate for the damages caused by the accident, and for the rehabilitation of the affected areas as may be determined by MGB, pursuant to Section 189 and 190 of DENR Administrative order No. 2010-21 and DENR Memorandum Order No. 99-32.

“In this regard, Philex Mining Corporation is also required to submit to this office the pertinent Work Plan with Budget Estimate upon payment of the above amount, as basis for the withdrawal from the Fund of the amount to be expended accordingly,” Jasareno added in a letter.