Benguet Corporation

...lugi pa rin mga mining? Tongue kailan kaya magtataper off? para makapagstart na ako ng accumulation ko Tongue

Benguet incurs P43-M net loss in six months

MANILA, Philippines — Listed miner Benguet Corp. incurred a net loss of P43 million in the first semester, a reversal of the P10 million income reported in 2017 due to lower revenues and production.

In a disclosure to the local bourse, the company said revenues  declined to P682 million.

The company shipped 218,635 metric tons (MT) of nickel ore, 33 percent lower than the previous year.

Total shipments decreased to four boatloads from six last year which was exacerbated by the decline in nickel ore prices to $20.50 per MT from $21.50 per MT.

On the other hand, gold revenue improved to P363 million as gold price increased to $1,317 per ounce despite lower production.

Meanwhile, cost and operating expenses fell four percent to P705 million due to lower sales.

The company expects improvement in its cash flows, banking on better gold production and steady global market prices.

Aside from producing and marketing gold, nickel laterite ore, limestone, the company also provides logistics, port and shipping services, healthcare services, sells industrial equipment and supplies, and develops water resources and real estate projects.


9-18 loss na nga, tinamaan pa ng galit ng gobyerno dahil sa bagyong ompong...malas talaga

Benguet Corp. says small-scale miners ignored geohazard warning

Benguet Corp. on Monday said it conveyed geohazard warnings to small-scale miners who encroached on its land in Itogon, Benguet but they were ignored.

The company said it warned the miners it was unsafe to inhabit the area that was declared a geohazard by the Mines and Geosciences Bureau.

“BC issued notices to the small-scale miners who have occupied the old bunkhouses or put up shanties that the area has been declared as geohazard ... and is unsafe for habitation,” the company said in a regulatory filing signed by corporate secretary Hermogene H. Real.

The filing was submitted by senior vice president for Legal Services Reynaldo Mendoza.

Forty to 50 people were reported to have taken shelter in one of the company’s abandoned bunkhouses, which was converted into a chapel and an evacuation center.

The building, according to Itogon Mayor Victorio Palangdan, was among one the structures trapped by a landslide caused by Supertyphoon Ompong (international name: Mangkhut).

In a separate interview on Super Radyo dzBB earlier on Monday, Palangdan said that Benguet Corp. failed to rehabilitate the area, even after a sinkhole appeared in 2015.

“The persons affected are mostly small-scale miners who have been illegally operating in its Antamok claims. Their unregulated mining activities are without permission of the company,” said Benguet Corp.

“BC suspended its mining operations in the area in the late 1990s and was studying new technologies for mining low-grade ores. During the period of suspension, the Antamok mines was gradually encroached by the small-scale miners,” it added.

It warned the miners but they refused to leave the area, the company said

“Subsequent warnings, and notices from the company for the small-scale miners to vacate the area were met with resistance and outright refusal,” it explained.

The company said will coordinate with the local government to provide medical assistance to those affected by the landslide.

“As of press time, BC personnel, in coordination with the LGU, the MGB-CAR, and others are currently taking care of the affected small-scale miners and their families who have been evacuated in its staff house while it is helping in the search, rescue, and retrieval operations in the landslide area,” the company said.

Due to multiple landslides that happened in the region, Environment Secretary Roy Cimatu ordered to put a stop to all small-scale mining operations in the Cordillera Administrative Region (CAR).


9-21 rehab dapat sa mga hinukay nyo! o kaya, ibaon yung mga BC executives jan sa minahan nila

Benguet Corp. backs small miners in Itogon

BENGUET Corp. wants to legitimize small-scale miners in Itogon by donating to the government its patented property in the Antamok site as a “Minahang Bayan” while providing other livelihood such as ecotourism to the community.

“We are looking at integrated solid waste management, one is a technology turning garbage into power. There’s also a planned ecotourism for them, and the other plan is the Minahang Bayan,” said Anna G. Vicedo-Montes, the company’s assistant vice-president for corporate communications.

“We thought of legitimizing them, asking the government agencies to regulate them, imposing the required environment mitigation programs so that dangers can be mitigated,” she told reporters in a press conference at Sofitel Philippine Plaza on late Wednesday.

The site Benguet Corp. plans to donate is more than 80 hectares, she said. The company has been accused by anti-mining groups for being responsible in the death of miners in the recent landslide in Antamok.

The company’s legal counsel Rey P. Mendoza said Benguet Corp. “has never allowed the small-scale miners to operate within our Antamok claims. The mining activities they are doing there or the processing activities they have are without the permissions of the company.”

He said the company tried to remove the miners from the area because their mining activities could endanger not only to themselves but to the community. He said efforts to prevent them from entering the area were of no avail.

“Our intention is if the area will be converted into a Minahang Bayan, all the other small scale-miners in the other areas of Benguet will be relocated there, then the government can step in to regulate their activities. This is what we did. They refused to be regulated. They have to consider their livelihood aspects,” he added.

Mr. Mendoza said not even the Mines and Geosciences Bureau (MGB) was able to stop the small-scale miners from their activities. He said the company was confident that it would be able to explain its side to the government.

“Before the MGB will take any actions, they will give us the chance to explain our sides. I think we can very well explain our side in this matter,” he said.

The company had coordinated with the local government unit and the MGB of the Cordillera Administrative Region in 2002 to establish the Acupan Contract Mining Project, which provided livelihood to the miners who were organized into cooperatives to become legitimate mining contractors, with proper documents.

He said that the company had been forced to give up the site as it was competing with the miners who were destroying the underground infrastructure.

Ms. Montes said that the rehabilitation plan for the site was continuing since the submission in the ’90s ahead of an amended version in 2016.

Environment Secretary Roy A. Cimatu in his speech on Wednesday during the Mining Philippines Conference and Exhibition 2018 that he would have discussions with mining companies on how to successfully implement mining laws in the country.

“I will meet with you again and discuss things. I want to see how the mining sector will look like in the future,” he said.

MGB Acting Assistant Director Danilo U. Uykieng said that it is a must for the government to communicate with the stakeholders to help promote the mining sector.

He also said that the MGB wants to lift the moratorium on exploration to determine the areas where mining operations should be.

“The government should be at the forefront of promoting the mining industry but we must help each other to communicate with the larger stakeholders, the Filipino people, and be more engaging to them. It is timely that we have to communicate more often. We have to engage not only with regulators but directly to communities. If they understand, they will not ask questions,” he said.



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