Pangilinan-led Philex Mining fined anew
MANILA, Philippines - Businessman Manuel V. Pangilinan's Philex Mining Corp. is facing another fine over the tailings spill at its Padcal Mine in Benguet last August.
The Pollution Adjudication Board has ordered Philex Mining to pay P92.8 million for the tailings leak that polluted the Balog and Agno rivers.
In a disclosure to the stock exchange, Philex said it is reviewing the order and evaluating its position.
Philex received the November 28, 2012 order from the Pollution Adjudication Board on January 18. Philex was also ordered to cease and desist operations at Tailings Pond No. 3.
"The order shall remain in effect until the Tailings Pond No. 3 shall have been completely restored and its structural integrity ensured as confirmed and certified by the Mines and Geosciences Bureau," the order read.
The P92.8 million fine is separate from the P1 billion fine imposed on Philex by the Department of Environment and Natural Resources (DENR).
Philex is required to pay the P1 billion fine on Feb. 19.
The DENR has said the amount Philex will be paying will be remitted in the Mine Wastes and Tailings Reserve Fund, which will be used to compensate damages caused by the tailings leak.
Aside from the monetary fine, Philex has also been required to submit a rehabilitation plan for areas affected by the tailings leak.
Operations at the Padcal mine has been suspended since August 1 last year due to the leak incident.