Philex produces P810-M worth of ore in Sept
abs-cbnNEWS.com | 10/05/2009 2:10 PM
abs-cbnnews.com
MANILA - Philex Mining Corp. reported on Monday that its Padcal copper-gold mine in Benguet produced P810 million worth of gold, silver and copper ore last month, up 10% from the P734 million worth of production in the same month last year.
In a disclosure to the Philippine Stock Exchange, Philex chief executive officer Walter Brown said the Padcal mine delivered 673,037 dry metric tons (DMT) of ore in September this year, 34% higher than the 503,060 DMT in September last year.
Last month's production raised the total output for the first 9 months of 2009 to 6.1 million tons of ore with an estimated value of P7.01 billion.
The ore output in September 2009 resulted in 5,202 DMT of concentrates, containing 55.35 grams per DMT of gold, 23.67% copper, and 55.66 grams per DMT of silver.
This, in turn, led to a gold production of 290,293 grams (9,333 ounces). Philex also produced as other products 1.23 million kilograms (2,714,543 pounds) of copper, and 289,703 grams (9,314 ounces) of silver.
The value of the month’s production was estimated at P810 million, of which P444 million came from gold, P360 million from copper, and P7 million from silver.
This was computed based on provisional metal prices of $998.50 per ounce gold, $2.78 per pound copper and $16.45 per ounce silver at the exchange rate of P47.59 to $1.00.
Philex reported that it shipped gold, silver and copper concentrates worth P6.93 billion for the first 9 months of the year.
as of 10/05/2009 2:19 PM |
