Padcal Mine in Benguet, was the largest underground mine in Philippines, producing approximately 6.23 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) and primarily produced copper (8.61 thousand tonnes) in 2021. The Padcal Mine is owned by Philex Mining Corp, and is due to operate until 2023. The second largest underground mine with an estimated 1.4 mmtpa of ROM and primarily producing copper (42.04 thousand ounces), was the Banahaw Mine located in Agusan del Sur. The Banahaw Mine is owned by Ten Sixty Four Ltd.
Co-O Mine located in Agusan del Sur was the third-largest mine, the Maco Mine located in Compostela Valley was the fourth-largest mine, and the Didipio Mine located in Quirino was the fifth-largest mine, with an estimated ROM production of 0.52 mmtpa, 0.48 mmtpa and 0.33 mmtpa, respectively, in 2021. Primarily, the Co-O Mine produced approximately 95.19 thousand ounces of gold, the Maco Mine produced approximately 297.61 thousand ounces of silver, and the Didipio Mine produced approximately 2.3 thousand tonnes of copper in the year 2021. The Co-O Mine is owned by Ten Sixty Four Ltd which is due to operate until 2027, the Maco Mine is owned by Apex Mining Co Inc which is due to operate until 2028 and the Didipio Mine is owned by OceanaGold Corp which is due to operate until 2033.
The five largest underground mines, i.e., Padcal Mine, Banahaw Mine, Co-O Mine, Maco Mine, and Didipio Mine, cumulatively produced approximately 8.96 mmtpa of ROM in 2021.
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