On Wednesday, September 19, the conference will feature the following:
Plenary Session 1: Formal Opening of Mining Philippines 2011 Conference
09:05 Welcome Remarks: Mr. BENJAMIN PHILIP G. ROMUALDEZ, President, Chamber of Mines of the Philippines; President and CEO, Benguet Corporation
09:15 Message: HON. PAQUITO N. OCHOA JR., Executive Secretary, Office of the President
09:30 Keynote Address: VICE PRESIDENT JEJOMAR C. BINAY
Plenary Session 2: Developments and Prospects in Gold
Session Chairman: Mr. John Miller
Editor, The Asia Miner
10:00 – 10:20 Global Gold Market Outlook
Mr. Kevin Li
Zijin Mining Philippines
10: 20 – 10:40 Financing Mining Projects in Emerging Economies
Mr. Charles Nelson
Murdock Capital, New York
11: 00 – 11:20 An Emerging Gold Producer, Philsaga Mining Corporation
Mr. Joel D. Muyco
Philsaga Mining Corporation
11:20 – 11:40 Pursuing Oceana Gold Project in Nueva Vizcaya
Mr. Joey Leviste
Chairman, Oceana Gold Philippines
11:40 – 12:00 A Continuing Growth with a Strong Foundation: Benguet Corporation
Mr. Renato A. Claravall
Senior Vice President-Chief Finance Officer, Benguet Corporation
12:00 – 12:20 Panel Discussion/Q & A
Discussants: Mr. Jose Ernesto Villaluna – Director, Philex Mining Corp.
Mr. Gerard H. Brimo - President, Nickel Asia Corp.
12:20 – 14:00 Luncheon Speaker (TBA)
Plenary Session 3 : Mining in a Changing Landscape
Session Chairman : Mr. John Ridsdel
SVP- COO, TVI Resource Development Philippines
14:00 - 14:20. Mining Perspective in a Global Changing Landscape
Mr. Mickey Thompson
Senior Research Officer
14:20 – 14:40 Marketing the Furture and Prospects of the Mining Industry
Atty. Michael Toledo
SVP for Corporate Affairs
Philex Mining Corporation
14:40 – 15:00 Water Stewardship in Mining Areas
Dr. Rolando Cuano
President, BMP Environment & Community Care, Inc.
15:00 – 15:30 Mining CSR – A Catalyst in Provincial Development
Mr. Rapa Lopa
President, Philippine Business for Social Progress
15:30 – 16:00 Panel Discussion/ Q and A
Discussants: Mr. Marcelo A. Bolano
Senior Vice President, Engineering and Research, Benguet Corporation
Atty. Leo G. Dominguez
Resource Advisors People Solutions Philippines, Inc
Plenary Session 4: Governance Issues and Concerns
Session Chairman: Atty. Patricia Bunye
Senior Partner, CVC Law
16:00 – 16:20 Geohazard Mapping and Climate Change Adaptation
Dr. Elmer Billedo
Asst. Director, Mines & Geosciences Bureau, DENR
16:20 – 16:50 Transparency and Poverty Reduction Initiative
Mr. Renaud Meyer
UNDP Country Director
16:50 – 17:10 Fundamental Issues Affecting Environmental Rules of Procedure
Atty. Emmanuel M. Lombos
Senior Partner, Sycip Salazar Hernandez Law Offices
17:10 – 17:30 Mining Taxation Policy Reforms
Mr. Shanaka Jayanath Peiris
IMF Resident Representative
17:30 –18:00 Panel Discussion/Q & A
Discussants Atty. Marilyn V. Aquino
Assistant Director, First Pacific Company Ltd.
Atty. Roderick Salazar
Managing Partner, Fortun Narvasa & Salazar Law Offices
18:00—20:00 Networking Cocktail Reception
Binay: We have to look at how mining can raise the economic line of those Filipinos at the bottom.
Binay: Let social justice shape the future of Philippine mining.
The Runruno gold project is situated in Central Luzon and has an approved Financial and Technical Assistance Agreement (FTAA).
Next topic: Financing mining in emerging economies from Charles Nelson from Murdock Capital, New York.
According to Nelson, there is huge international interest in the Philippine mining sector but there is little knowledge on the industry.
Nelson is giving a rundown of the types of risks in mining investments. He says the Philippines has a combination of common and civil law in terms of civil system risk.
Nelson: There is also the title risk, where the right in minerals invested in the central government and all that can be obtained is a license to mine the said mineral.
Nelson: Insurance is the essential part of the package. Many emerging markets require the primary insurance be provided by a local insurance company. This performance and credit risk issues.
Third risk: liquidity. Emerging markets does not provide substantial liquidity for the larger institutional investor. Possible solutions: establishment of a dual listing for the stock. Possible dual listings could be in London, Canada.
Nelson: The Philippines economy is growing. There is corruption but there are administration policies to mitigate this. The country has become friendlier to foreign investors.
Nelson: Investing in an emerging market is similar to investing in any other market. In the Philippines, language barrier is not a problem here.
Joel Muyco of Philsaga Mining Corp is up next. He will be discussing Philsaga Mining Corp as an emerging gold producer.
In 2000, Philsaga has taken over a mine which started in the 1980s. The location: Bunawan, Agusan del Sur.
Philsaga uses the drift mining method, which is conventional to the geography of the place. They have 5 surface shafts, 6 internal shafts, and 6 underground levels.
Philsaga production: 819 tonnes per day and an average grade of 2 grams per ton.
Muyco: Co-O mine is ideally located in the mineralized area. We are only at the tip of the iceberg. There are many areas that we are still exploring right now.
Muyco: One day we will maintain our status as the largest gold-producing site in Mindanao with a social conscience.
We are now heading to our next speaker: Jose Leviste Jr of Oceana Gold, who will discuss the company's gold project in Nueva Vizcaya.
Leviste: Oceana Gold will be the first company to operate on an FTAA with no Filipino partner in the country. The site will be in Isabela, the hometown of VP Binay.
Brennan Lang took the reins and is now discussing the ins and outs of the project.
Lang: We are slated to produce 1,000 ounces a year and is looking at an expansion to 150,000 ounces a year. We're also looking at other partners in Southeast Asia aside from the Philippines.
Lang: Half of the revenue will be from copper and half will be from gold. Using both open pit and underground mine. The open pit mine already started and will run until 2026. Underground operations will start in 4 years, from 2021-2028. 1.7 million ounces of reserves. 229 tonnes of copper.
Lang: There are 1,700 employees on site, 98% of which are Filipinos. The construction of the site is 85% complete.
Lang: Benefits include taxes and royalties (US$350), capital investment (US$350-400million), operations and expenditures (US$1.5 billion). Majority will be on goods and services purchased in the Philippines.
Didipio will bring significant stimulus to the Isabela provinces through employment, educational and training opportunities for locals
Lang: Social and Development Management Plan will amount to US$1.5 million per year. The people of the region will receive the prime benefits, especially the people of Didipio.
Didipio to invest in social development via transportation infrastructure and an elementary school