Philex Mining Corp

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.

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

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

• Copper mining operations
• Gold mining production
• Mineral exploration services
• Ore processing operations
• Nickel extraction projects

Headquarters

HQ city

Mandaluyong

HQ country

Philippines

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. 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.

Core 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

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• EEI Inc.coreImplementation/ SI/ Consulting Partner · 26 June 2026EEI 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

Direct 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

• LinkedInlinkedin.com/company/philex-mining-corporation

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Philex Mining Corp