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Home / Metal News / Philex Mining: Shipped PHP830 Mln Worth Of Copper Concentrates

Philex Mining: Shipped PHP830 Mln Worth Of Copper Concentrates

May 4, 2010 16:03

MANILA, May 04, 2010 (Dow Jones Commodities News via Comtex) -- Philex Mining Corp. (PX.PH), the Philippines' largest gold and copper producer, said Tuesday as of April 30 it had completed the shipment of 4,995 dry metric tons of copper concentrates.

The concentrates contained 7,845 ounces of gold, 2.7 million pounds of copper and 8,448 ounces of silver, the company said in a statement to the stock exchange.

The shipment has an estimated value of PHP830 million ($18.6 million), consisting of PHP397 million from gold, PHP427 million from copper and PHP6 million from silver.

The company's copper concentrates are produced from its Padcal mine project in northern Philippines.

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