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Bacolod City, Philippines Monday, June 17, 2013
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Philex stops
operations in south


MAKATI CITY – Philex Gold Mining Corp. in Sipalay City, Negros Occidental, has temporarily stopped its operations after it was raided by members of suspected New People's Army last month, its Chairman Manny Pangilinan, announced  Saturday.

Pangilinan, who held a press conference with the provincial media at the Shangrila Hotel in Makati City, said  they will  resume operations once the peace and order in Sipalay has been stabilized and  no more rebel atrocities take place.

"We cannot afford to continue our operations (in Sipalay) knowing that the lives of our employees there are at risk because of NPA  atrocities", he said.

Pangilinan added that, as of now, they are concentrating on the operations of their mining firms in Benguet and Surigao Del Norte with multi-million pesos of investments.

Philex Gold Mining Corporation in Brgy. Nabulao, Sipalay City has been subject of rebel atrocities, the recent of which was on May 3, where at least 30 suspected members of the New People's Army burned two bunkhouses of Philex Mining, a Kubota tractor with drilling machine and a generator set, a computer set, ICOM radio and personal belongings in Sitio Umas, Brgy. Camindangan, Sipalay.

Pangilinan also disclosed plans to modernize the facilities of Pablo O. Torre Memorial Hospital so patients who need further treatment and medical procedures will no longer have to travel to Manila.

The Metro Pacific Investments Corp. headed by Pangilinan is now the major stock holder of POTMH.*APN



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