Philex July Gold, Copper Output Up; Value Higher At PHP964 Mln

MANILA, Aug 02, 2010 (Dow Jones Commodities News via Comtex) -- Philippine gold and copper producer Philex Mining Corp. (PX.PH) said Tuesday its Padcal mine further improved metal production in July, with gold output rising 2% on month to 10,046 ounces.

Copper production also improved 2% to 2.79 million pounds from the previous month while silver production climbed 3.5% to 10,151 ounces, the company said in a statement to the stock exchange.

The company's metal output last month have been valued around PHP964 million ($20.9 million), also higher from the previous month's estimate of PHP947 million.

During the month, the Padcal mine, located in the north, produced 804,978 dry tons of ore, the company added.