Philex Mining Corp
Philex Mining Corporation is a Philippine copper and gold producer operating the Padcal Mine in Benguet and developing the higher-grade Silangan Copper-Gold Project in Surigao del Norte for a Q3 2026 startup, while exploring nickel assets in Pangasinan and Zambales for EV-battery supply.
- Company typePublic
- Founded1956
- HeadquartersMandaluyong, Philippines
- Headcount1,001–5,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Philex Mining Corp does
Philex Mining Corporation is a Philippine-headquartered mining company founded in 1955 and listed on the Philippine Stock Exchange (ticker: PX) and on the US OTCQB market (ticker: PMC), with its corporate office in Mandaluyong. The company operates a single-segment metals mining business that extracts and sells copper and gold, anchored by the long-running Padcal Mine in Benguet Province. With a workforce of 1,001–5,000 employees, Philex generates revenue primarily through the sale of copper-gold concentrate into global commodity markets at prices set by international exchanges, with no disclosed recurring-software or contracted-revenue pricing components.
The company's central growth driver is the Silangan Copper-Gold Project in Surigao del Norte, an advanced-stage asset with ore grades approximately six times higher than Padcal that is targeting commercial production in Q3 2026 and a staged capacity expansion from 2,000 to 12,000 tonnes per day. Construction execution is being supported through a partnership with EEI Inc., and Silangan is positioned to materially expand Philex's copper-gold output profile once in steady-state operation. Philex is also pursuing diversification through active nickel exploration in Pangasinan and Zambales, with the strategic intent of supplying nickel into EV battery and stainless steel value chains.
In the most recently reported quarter (Q2 2024), Philex generated revenue of PHP 2.24 billion, down 9.3% year-over-year, and attributable net income of PHP 214.72 million, down 31.7%, reflecting the natural decline curve of the mature Padcal asset ahead of the Silangan transition. Despite near-term earnings softness, Philex equity has re-rated sharply in 2025, with the stock up 258.4% year-to-date and ranking as the second-best performer on the Philippine Stock Exchange, signaling that public-market investors are pricing in Silangan's production ramp and the nickel optionality as the primary forward value-creation catalysts.
Philex Mining Corp firmographics
Firmographics- Name
- Philex Mining Corp
- Legal name
- Philex Mining Corporation
- Website
- https://philexmining.com.ph
- Company type
- Public
- Founded year
- 1956
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Philex Mining Corporation is a Philippine copper and gold producer operating the Padcal Mine in Benguet and developing the higher-grade Silangan Copper-Gold Project in Surigao del Norte for a Q3 2026 startup, while exploring nickel assets in Pangasinan and Zambales for EV-battery supply.
- Ownership category
- akta.pro rank
Philex Mining Corp industry classification
Industry- Product category
- Metal Mining (Copper and Gold)
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040)
- akta.pro primary industry
- Copper Ore Mining (Open-Pit & Underground) (IMAKADAB)
- akta.pro secondary industries
- Nickel Mining & Concentrates (IMAKAFAB), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)
Keywords
Where Philex Mining Corp is headquartered
LocationHeadquarters
- HQ city
- Mandaluyong
- HQ country
- Philippines
- HQ region
- Asia
Offices4 records
Markets served
Philex Mining Corp business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D
Revenue model
- Copper and Gold Mining: Philex Mining Corp operates copper and gold mining operations. The company currently operates the Padcal mine and is developing the Silangan copper-gold project in Surigao del Norte, which is scheduled to begin commercial operations in Q3 2026 with first metal pour in the same period. The Silangan project has ore grades approximately six times higher than the Padcal mine, positioning it as a major revenue driver starting in 2027.
Philex Mining Corp product offering
Product offeringCore offering
Philex Mining Corporation is a Philippine mining company that operates the Padcal copper-gold mine in Benguet Province and is developing the Silangan copper-gold project in Surigao del Norte, scheduled to begin commercial operations in Q3 2026. The company also holds nickel exploration prospects in Pangasinan and Zambales, targeting future supply of metals for electric vehicle batteries and stainless steel production.
Product overview
Philex Mining Corporation is a Philippine-based mining company operating copper and gold extraction projects. The company operates the Padcal Mine in Benguet Province and is developing the Silangan Copper-Gold Project in Surigao del Norte as its primary growth driver, with commercial production targeted for Q3 2026. The company is also pursuing nickel exploration opportunities in Pangasinan and Zambales to diversify into EV battery and stainless steel supply chains. All mining operations are conducted through conventional extraction and processing methods without integrated technology platforms.
Differentiator
Problem solved
Functional benefit
Products and services
- Padcal Mine
Companies that use Philex Mining Corp
Customer profileSegments1 record
Ideal customer profiles1 record
Philex Mining Corp technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Philex Mining Corp partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- EEI Inc.coreEEI Inc. is the construction contractor for Philex Mining's Silangan copper-gold project in Surigao del Norte. EEI is progressively handing over the process plant as construction becomes substantially complete, with commercial operations targeted for Q3 2026.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
Philex Mining Corp competitors and assessment
Company assessmentDirect peers
- Lepanto Consolidated Mining Company: A long-established Philippine mining company primarily engaged in gold and copper mining operations, with operations similarly concentrated in Benguet and nearby regions. Directly comparable as a domestic peer producing the same metals with similar operational and regulatory dynamics.
- Benguet Corporation: A Philippine mining company with gold and other mineral operations in the Benguet region, sharing the same primary mining geography as Philex's Padcal mine. Comparable as a domestic gold-focused miner with overlapping operational footprint.
- Nickel Asia Corporation: The Philippines' largest nickel miner, operating laterite nickel mines in the country. Directly comparable to Philex's nickel diversification strategy and serves as the natural benchmark for Philippine critical minerals exposure.
- Apex Mining Company: A Philippine gold and silver mining company operating in Mindanao, producing similar metals to Philex. Comparable as a Philippine-focused precious and base metal producer with similar scale and operational profile.
Regional players
- Semirara Mining and Power Corporation: A major Philippine mining and power generation company primarily producing coal. Comparable as a large-scale Philippine mining operator with similar domestic regulatory and operational dynamics, though in a different commodity.
- Global Ferronickel Holdings: A Philippine nickel mining and processing company producing nickel for stainless steel applications. Comparable as a Philippine-based nickel producer serving similar end-markets to Philex's planned nickel operations.
Emerging players
- Candelaria Mining Corporation: A Philippine-focused mining exploration and development company pursuing gold and copper opportunities. Comparable as an emerging Philippine mining peer pursuing similar metals with development-stage project profiles.
- MMG Limited: A Hong Kong-listed mid-tier base metals miner producing copper, zinc, and other metals globally. Comparable as a mid-scale copper-focused miner with similar development-stage project profiles to Philex's Silangan operation.
Broad incumbents
- Newmont Corporation: One of the world's largest gold and copper producers with a global operating footprint. Comparable as a major gold and copper miner whose portfolio and pricing dynamics are relevant benchmarks for Philex's commodity exposure.
- Freeport-McMoRan: A globally significant copper and gold mining major with operations across multiple geographies. Comparable as a benchmark for large-scale copper-gold producers and a relevant read on global copper-gold price dynamics that drive Philex's earnings.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Philex Mining Corp social profiles
Digital presencePhilex Mining Corp financial estimates
Financial estimateRevenue estimate
Valuation estimate
Philex Mining Corp leadership team
Management profileNumber of profiles
Philex Mining Corp funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Philex Mining Corp M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Philex Mining Corp
What does Philex Mining Corp do?
Philex Mining Corporation is a Philippine mining company that operates the Padcal copper-gold mine in Benguet Province and is developing the Silangan copper-gold project in Surigao del Norte, scheduled to begin commercial operations in Q3 2026. The company also holds nickel exploration prospects in Pangasinan and Zambales, targeting future supply of metals for electric vehicle batteries and stainless steel production.
Is Philex Mining Corp a public or private company?
Philex Mining Corp is a public company. It is classified as public and is currently operating.
When was Philex Mining Corp founded?
Philex Mining Corp was founded in 1956. It employs 1,001 to 5,000 people.
Where is Philex Mining Corp based?
Philex Mining Corp is headquartered in Mandaluyong, Philippines, in the Asia region.
How does Philex Mining Corp make money?
One revenue line is on record: copper and Gold Mining.
Who are Philex Mining Corp's main competitors?
Direct peers on record are Lepanto Consolidated Mining Company, Benguet Corporation, Nickel Asia Corporation and Apex Mining Company. Regional players are Semirara Mining and Power Corporation and Global Ferronickel Holdings. Emerging players are Candelaria Mining Corporation and MMG Limited. Broad incumbents are Newmont Corporation and Freeport-McMoRan.
Does Philex Mining Corp have an API?
No public API is recorded for Philex Mining Corp.
What industry is Philex Mining Corp in?
Philex Mining Corp's product category is Metal Mining (Copper and Gold). Its primary akta.pro industry code is IMAKADAB, Copper Ore Mining (Open-Pit & Underground), with a secondary code of IMAKAFAB, Nickel Mining & Concentrates. Its NAICS code is 212230 and its SIC code is 1000.