Philex Mining was incorporated in the Philippines in 1955 and was listed on the Philippine Stock Exchange in 1956. The company’s current CEO and President, Eulalio B Austin Jr, credits the longevity and success of the gold- and copper-mining operations today to the company’s founders, who ensured that things were done properly right from the start.
“Philex has been surviving for the last six decades because of the workforce’s resilience and the company’s constant adherence to the corporate ideals and culture of responsibility; always looking out for the safety of our people as well as the welfare of the communities and preservation of the environment around our areas of operation,” Eulalio says.
“We owe this to our founders, who ensured that the rights of our employees and of the indigenous people were always respected even before the mine was started. Our strict adherence to the highest safety standards, commitment to social development programs, and dutiful compliance to environmental standards are the secrets behind Philex Mining Corporation’s long-term success.”
Company values
“Among other things, the company is dedicated to doing business in accordance with the highest standards of ethics, and in accordance with its core values of integrity, teamwork, work excellence, respect for individuals, corporate responsibility, and social and environmental responsibility,” Eulalio explains. “These are always top of mind when we deal with colleagues and engage with customers, suppliers, competitors, business partners, government regulators, and other stakeholders, especially the communities in which we operate,” he says.
Corporate social responsibility
Communities, both in and around its mine sites, are the focal point of Philex’s corporate social responsibility platform, including the protection and rehabilitation of the natural environment surrounding them in all stages of mining—from exploration to operation, and all the way to mine decommissioning.
“Over the years, we maintained a solid track record for the various community development projects that we have initiated for the preservation of the environment and welfare of the local communities living around our operations,” he says. “This commitment, instilled by the founders of the company, runs in our DNA and is what sets us apart from other industry players, enabling us to establish an image of responsible mining in the country.”
In addition, the company adheres to an environmental policy, which states that Philex Mining—as a socially and environmentally responsible company—is committed to the continuous improvement of its operations, avoiding or rehabilitating any adverse environmental impacts of its operations through the faithful compliance with all laws, legislations, and other regulations; and the promotion of environmental awareness and commitment for environmental protection among its workers at all levels.