Wellex Mining Corporation
Wellex Mining, The Wellex Group’s mining arm, is the group’s response to the growing mining industry in the Philippines and the government’s thrust to boost this growth sector. The mining and oil exploration sectors are priority concerns under the government’s Medium Term Philippine Development plan for 2004 to 2010.
Wellex Mining is currently developing a 3,700-hectare mine site in the Province of Dinagat, south of the Philippines for nickel, chromite, iron, and gold. The property is under the Surigao Mineral Reserve established by the United Nations and holds a Mineral Production Sharing Agreement (MPSA) granted by the Philippine government.
The company, through its sister affiliate, Wellex Petroleum, is also set to operate a 10,000 hectare minesite in Eastern and Western Samar for coal and another 7,000 hectare in Palawan for Nickel and Limestone. The former is under the Samar Mineral Reserve.
The company is actively negotiating for the acquisition and development of more mine sites around the country to strengthen its position in the local mining industry. It also has plans of setting-up environmentally safe processing plants to further enhance the value of its present operation.