Philex’s Silangan gold mine all set to start commercial run in ’26
Tycoon Manuel V. Pangilinan-led Philex Mining Corp. will start operating its Silangan copper and gold project in Surigao del Norte by the first quarter of 2026, with or without new investors.
The Silangan project in Tubod town is expected to be the first major mining project to commence commercial operations under the Marcos administration. It will produce copper cathode and gold dore.
Philex Mining president and CEO Eulalio Austin Jr. said the listed mining firm was in discussions with several local and foreign firms to invest in the project, although no agreement has been reached yet.
He declined to disclose additional information about talks with potential partners.
“It’s a work in progress talking to investors but it will not stop us from commissioning the project, with or without investors. But expect that the output will be lower because that was the plan at the start, to start small,” the company executive said on the sidelines of the Mining Philippines 2025 in Taguig City.
Buy-in deal
Philex Mining previously disclosed that a foreign investor had agreed to acquire a minority stake in the mining project. Austin did not provide other details as the parties have yet to execute the deal.
Austin said ore production at the mine was targeted at 2,000 tons per day. The volume would be ramped up once it starts generating revenues, he added.
Philex Mining intends to reach the Silangan mine’s full capacity of 12,000 tons per day or 4 million tons per year in its 12th year.
The company held a groundbreaking ceremony on May 28 at the grinding complex, one of the components of the Silangan project.
“What we are looking at is to finish the mechanical installation of the process plant by end of December 2025. First month of 2026, we start debugging process plant already in time for the first metal pour towards the end of first quarter,” he told reporters.
Aside from Silangan, the other two big-ticket Philippine mining projects in the pipeline are Tampakan and King-king projects in Mindanao, which have yet to operate.
