You are on page 1of 3

PART I:

a) What does it do, what does it produce and sell, who does it employ, and where is it
located?

PMC and its subsidiaries fall under two main business groups: the metals business and the
energy business. PMC, along with Philex Gold Philippines, Inc. (PGPI) and Silangan Mindanao
Mining Co., Inc. (SMMCI) operate the metals business, while Philex Petroleum Corporation (PPC)
handles the energy business. PMC was incorporated in the Philippines in 1955 and its shares
have been listed on the Philippine Stock Exchange since November 23, 1956. PMCs corporate
office is located in Pasig City, Metro Manila, Philippines.

Philex Mining was incorporated in the Philippines in 1955 and was listed on the
Philippine Stock Exchange on Nov. 23, 1956. Philex Mining, Philex Gold Philippines,
Inc. (PGPI), Silangan Mindanao Exploration Co., Inc. (SMECI), and Silangan Mindanao
Mining Co., Inc. (SMMCI) are primarily engaged in large-scale exploration,
development, and utilization of mineral resources. PGPI is a wholly owned subsidiary of
Philex Mining through a holding company and incorporated in the Philippines while
SMECI is a wholly owned subsidiary of Philex Mining through a holding company and
PGPI, and incorporated in the Philippines. Philex Mining operates the Padcal Mines in
Benguet while PGPI operated the Bulawan mine in Negros Occidental between January
1996 and June 2002. SMECI, through its subsidiary SMMCI, owns the Silangan Project
covering the Boyongan and Bayugo deposits, which are currently under prefeasibility
stage.

Philex Petroleum and its subsidiaries Forum Energy plc (FEP) and FEC Resources, Inc.
(FEC) are engaged primarily in oil and gas operation and exploration, holding
participating interest in serveral oil and gas production and exploration activities through
their investee companies. Philex Petroleum, which is 64.79 percent-owned by Philex
Mining and incorporated in the Philippines, has a 64.5 percent stake in FEP (registered in
England and Wales) and a 51.2 percent stake in FEC (incorporated in Canada). Philex
Petroleum also owns 100 percent of Brixton Energy & Mining Corporation (BEMC),
which is engaged in coal operation in Diplahan, Zamboanga Sibugay, and started
commercial production during 2012.

As of Dec. 31, 2011, Philex Mining has 45,085 stockholders, with 38.71
percent of its outstanding shares owned by foreign nationals and institutions.

Philex Mining's exploration strategy in the late 1980s was focused on gold
exploration, resulting in the acquisition and staking of a number of primarily
gold claimholdings throughout the Philippines. In July 1996, these gold assets,
including the Bulawan Project, were spun off to PGPI. Situated in Negros
Occidental, the Bulawan mines commenced commercial production in Jan.
1996 and continued until June 2002, when it was decommissioned due to
unfavorable metal prices. It has since been placed on a care-and-maintenance
phase.

The companys major stakeholders are:

Shareholders/ Investors
Community
Government
Customers
Suppliers

Shareholders

The Company had 44,296 shareholders as of December 31, 2015 with 4,940,399,068
common shares issued and outstanding, 39.30% owned by foreign nationals and institutions.
The top 20
Source: Philex Mining Corporation Sustainability Report 2015.
shareholders
were as follows:
Community

You might also like