Digging for profits: Who owns PH mines?


QUICK FACTS

Name of mining firm: Wellex Mining Corp.
Location: Libjo and Tubajon, Dinagat Islands
Mining area: 3,696 hectares
Metals extracted/mine products: Nickel
Nickel production: None reported for 2020 and 2019
Mining permit period: 1994-2019
Total manpower complement: Not indicated

 

OWNERSHIP

Incorporation date: Jan. 10, 2008

Stockholders: 
The Wellex Group, Inc.
Gatchalian, Kenneth T.
Lim, Joson T.
Mercado, Lamberto Jr. B.
Torres, Ruben D.
Ricardo, Richard L.


Chairperson of the Board: Gatchalian, Kenneth T.

 

MINING REVENUE 

Current assets: P7.38 million (2019)
Current liabilities: P5.32 million (2019)
Revenue from sale of mining products: None indicated (2019)
Net income: -P24.66 million (2019)

 

STATUS OF OPERATIONS

Wellex Mining Corp.’s mineral production sharing agreement (MPSA) is suspended, according to the Mines and Geosciences Bureau’s list of MPSAs as of Feb. 28, 2021.

In February 2017, the company received an order from the Department of Environment and Natural Resources (DENR) cancelling its MPSA. On Nov. 12, 2018, the department issued a resolution (1) partially granting Wellex’s motion for reconsideration on the 2017 cancellation order; (2) suspending the operation of the firm; and (3) directing it to do the following:

1. correct all violations and deficiencies and conduct replacement planting in accordance with DENR Memorandum Order No. 2012-02 prescribing a uniform replacement ratio for cut or relocated trees; and

2. pay all fines and penalties immediately upon receipt of the resolution.

 

COMMUNITY PROFILE

Municipality class of mining location: Libjo, Dinagat Islands (5th class)
Population: 17,760 (2015)
Poverty incidence rate: 43.56% (2015)
Human Development Index: No data available
Municipality class of mining location: Tubajon, Dinagat Islands (5th class)
Population: 8,276 (2015)
Poverty incidence rate: 41.97% (2015)
Human Development Index: No data available

 

IN THE NEWS

DENR announces closure of 23 mining operations
Mine closures, suspensions affirmed

 

Sources: 

General Information Sheet, 2020
Financial Statement, 2019
List of existing Mineral Production Sharing Agreements, Mining and Geosciences Bureau
Philippine Metallic Mineral Production, Mines and Geosciences Bureau 
Poverty and socioeconomic indicators, Philippines Statistics Authority

 

Note: The Human Development Index is a measure of how well a country has performed, not only in terms of real income growth, but also in terms of social indicators that measure people's ability to lead a long and healthy life, acquire knowledge and skills, and have access to the resources needed to afford a decent standard of living. An HDI value below 0.550 is considered low and below 0.399 is very low. The national average for the Philippines is 0.718 as of 2020.

This article was produced with the support of Internews' Earth Journalism Network.