The government has approved Philex Mining Corp.’s proposed P74.04 million for social programs at its Padcal mine this year.
In a statement, Libby Ricafort, Philex vice president and resident manager of Padcal, said that the company has allocated the amount for social projects, information campaign, and research to further develop the mining industry—as approved by the Mines and Geosciences Bureau (MGB).
“The amount set aside for this year was actually P65.79 million, but an additional P8.25 million was carried over from the previous year,” Ricafort said.
The actual budget is already more than 1.5 percent of the total operating cost of P4.38 billion for 2012, as required by government regulation, according to Philex Mining’s 2013 Annual Social Development and Management Program (ASDMP).
Michael Toledo, senior vice president for Corporate Affairs at Philex Mining, said, said that Padcal has adhered to its obligations with regard to the annual allotment of funds for SDMP, Information and Education Campaign (IEC), and Development of Mining Technology and Geosciences (DMTG).
“This is part of our culture of responsible mining, as we have continued helping in the development of our host-towns—and even outlying communities,” Toledo said.
The SDMP projects comprise 75 percent or P49.34 million of the 2013 ASDMP amounting to P65.788 million. This year’s total SDMP budget has been placed at P56.1 million, however, including the P6.76 million carried over from 2012.
The biggest chunk of the SDMP fund has been set aside for livelihood activities at about P34 million (including the P5.3 million carried over from the previous year), followed by education at P17.07 million (including P1.46 million from 2012), and healthcare at P5.07 million.
Fifteen percent of the ASDMP budget goes to IEC programs while 10 percent is for DMTG programs, which include research, trainings for industry professionals, and seminars on the development of the sector.
In his report to Fay Apil, OIC-regional director of MGB-Cordillera Administrative Region, Mr. Ricafortsaid Philex Mining spent about P1.93 million for the first quarter of the year for its various social programs, including infrastructure projects.
Feliciano Diso, Jr., manager for Community Relations at Padcal Mines, said his team conducts regular forums with local-government representatives, community leaders, and other stakeholders on the implementation of SDMP projects.