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News and Updates.


February 21, 2021

PMRC 121, 237 and 171 Webinars were conducted during the 4th quarter of 2020 for the continued professional development of the competent persons, technical people and other stakeholders of the Philippine Mining Industry during the prolonged pandemic. Webinar support activities such as registration, payment, knowledge checks, evaluation/feedbacks and provision of certificates of attendance/completion continued to be undertaken online through our contractor, XPERTO.

The corporate sponsors for the 4th quarter webinars are as follows: Platinum - Nickel Asia Corporation (NAC), Masbate Gold Project (MGP), Carmen Copper Corporation (CCC), , Global Ferronickel Holdings Incorporated (GFNI), Philsaga Mining Corporation (PMC); and Bronze – TVI Resource Development (Phils.) Inc. (TVIRD), Philippine Chamber of Coal Mines Inc. (Philcoal) and CTP Construction and Mining Corporation (CTPCMC).

PMRC 121 - Valuing Rocks & Minerals: Mine Finance & Economics was held last November 11, 2020 from 1:00 -5:30 PM. This webinar was undertaken by the PMRCC in cooperation with PricewaterhouseCoopers Company (PwC) and Quisumbing-Torres (Member Firm of Baker Mckenzie International). Two hundred fifteen (215) people participated in the webinar. The following presentations were made:

  1. Mining Trends and Developments by Mr. Ben Gargett & Mr. Dedy Lesmana, PwC Melbourne & Jakarta

  2. Introduction to PMRC & Listing/Disclosure Rules in the PSE by Atty. Dennis Quintero & Atty. Mae Vallada, Quisumbing Torres

  3. Valuing Mining Companies & Projects by Mary Jade Roxas-Divinagracia, Pocholo Domondon & Darwin Saribay, PwC Philippines

  4. Taxes & Other Regulatory Developments by Atty. Lawrence Biscocho, PwC Philippines

PMRC 237 - Metallurgical Accounting, Basic Principles and Main Applications was held on two (2) successive Thursdays last November 19 and 26, 2020 from 1:00 -5:45 PM. This Professional Lecture Series was conducted by SMEP and CASPEO.

There were 142 people who participated in the PMRC 237 webinar, consisting of professionals from various fields of expertise. Some of the attendees were Metallurgical Engineers, Mining Engineers, Geologists, Chemists, Mine accountants, finance executives, and mining company executives, to list a few.

For the first Thursday session, the speaker was the Managing Director of CASPEO, Stéphane Brochot, who gave talks about the following topics:

• Introduction to Metallurgical Accounting and Importance of Metal Accounting

• Data Reconciliation and Improvement Measurement and Sampling

The second and last Thursday session speaker was the Co-Managing Director of CASPEO, Marie-Véronique Durance, who talked about the following topics:

• Inventory tracking, Stock management and Inventory, Periodicity and Scenarios

• Data and metal accounting report, Data workflow and validation, Data storage and information system, Generation of a metallurgical accounting report

PMRC 171 – Managing your Competent Person (CP) Career was held last December 11, 2020 from 1:00 – 4:00 PM. Seventy-five (75) persons attended the webinar, majority of which were CPs. Opening Remarks were provided by Engr. Roger de Dios, who shared his experiences highlighting integrity in the profession. Closing Remarks were provided by Engr. Federico Monsada who summed up the proceedings. The following presentations were made:

• Ethical Practice Among CPs & in the Minerals & Energy Industries by Engr. Rufino Bomasang of Philcoal and PRB, Mining Engineering Chairperson

• Competent Persons’ Professional Responsibilities & Liabilities by James Llorca, Medusa Mining, Ltd

• Tips for Competent Persons as Consultants by Ciceron Angeles Jr., PMRCC

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September 5, 2020

With the pandemic, the Philippine Mineral Reporting Code Committee (PMRCC) conducted Zoom Webinars during the third quarter of the year for the continuing professional development of Competent Persons, technical people and other stakeholders of the Philippine Mining Industry. Registration, remittances, knowledge checks, webinar evaluation/feedbacks and provision of certificates of attendance/completion were all likewise undertaken online made possible by our partner, XPERTO Academy.

The corporate sponsors of the PMRCC webinars were as follows: Platinum - Nickel Asia Corporation (NAC); Gold – Apex Mining Company Incorporated (AMCI), Carmen Copper Corporation (CCC), CTP Construction and Mining Corporation (CTPCMC), Global Ferronickel Holdings Incorporated (GFNI), Masbate Gold Project (MGP); Silver – Philsaga Mining Corporation (PSMC) and Bronze – TVI Resource Development (Phils.) Inc. (TVIRD), Philex Mining Corporation (PMC).

The webinar on PMRC 101 - Introduction to the Philippine Mineral Reporting Code was held last July 18 from 1:00 -5:15 PM. Ninety (90) people participated in the webinar including representatives from the Philippine Stock Exchange (PSE) and the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources (DENR). The following presentations were made:

  • Framework of the PMRC, CRIRSCO and International Reporting Codes by Mr. Ciceron Angeles Jr.

  • Exploration Results and Mineral Resources by Dr. Rogel Santos

  • Ore Reserves Estimation Report and Economic Assessment by Engr. Marcelo Bolaño

  • Metallurgical Report by Engr. Enrico Nera

PMRC 131 – Elements of Mining Feasibility Studies was a series of webinars held in the afternoons of August and early September. There were two hundred-five (205) participants including representatives from PSE/ DENR and six (6) Indonesian colleagues. For the five (5) Saturday webinars, there were seventeen (17) topics presented, as follows:

Module 1- August 8, 2020

• Introduction and Components of a Mining Feasibility Study by Engr. Jake Ramon Foronda

• Geologic Inputs to a Mining Feasibility Study by Mr. Jesus Cinco Jr.

• Mining Methods by Engr. Leonardo Marcelo Jr.

• Ore Reserve Estimation and Life of Mine Planning by Engr. Rolando Cruz

Module 2 - August 15, 2020

• Metallurgical Considerations in Mining Feasibility Studies by Engr. Juancho Pablo Calvez

• Mine Infrastructure and Utilities by Engr. Jake Ramon Foronda

• Transport and Logistics by Engr. Rolando Cruz

Module 3 - August 22, 2020

• Mining CAPEX and OPEX Estimation by Mr. George Baquiran

• Milling CAPEX and OPEX Estimation by Engr. Silver Vito Andrada

• SHEC, Government Permitting and Mine Rehabilitation by Engr. Aldwin Camance

Module 4 - August 29, 2020

• Hydrology and Water Resources by Engr. Aldwin Camance

• Mine Organization and Manpower Training by Engr. Enrico Nera

• Project Schedule, Execution Plan and Feasibility Study Team by Engr. Jake Ramon Foronda

Module 5 - September 5, 2020

• Market Studies and Contracts by Engr. Deogracias Madrid

• Taxation, Royalties and Government Incentives by Atty. Fernando Peñarroyo

• Mining Financial Analysis by Mr. Pocholo Domondon

• Risk Management by Atty. Fernando Peñarroyo

The success of PMRC 101 and PMRC 131 has further provided additional momentum for the PMRCC to undertake succeeding webinars for the fourth quarter of this year. They are as follows:

• PMRC 121 – Mine Accounting for Mining Industry Professionals on November 11, 2020

• PMRC 237 – Metallurgical Accounting (c/o SMEP) on November 19 & 26, 2020

• PMRC 171 – Managing Your CP Career on December 11, 2020

by Ciceron A. Angeles, PMRCC Chairperson May 28, 2019

I am proud to present the accomplishments of the PMRC Committee for this fiscal year ending May 2019. The PMRC Committee (PMRCC) was finally formed by the three (3) Parent Organizations (“POs”) last

November 22, 2018 at the CAP-John Hay Convention Center at Baguio City. These POs are the Geological Society of the Philippines (GSP), the Philippine Society of Mining Engineers (PSEM), and the Society of Metallurgical Engineers (SMEP). At the same night, the Philippine Stock Exchange (PSE), the Philippine Mining and Exploration Association (PMEA) and the Philippines-Australia Business Council (PABC) joined PMRCC as Association Organizations (AOs). The first monthly PMRCC meeting was held on the same day, November 22, 2018 wherein the PMRCC members from six (6) organizations were formally accepted. Your truly was elected at the Chairperson and Engr. Cornelio Casido and Engr. Ramon Jose Foronda were elected as the Co-Vice-Chairpersons. The PMRCC Secretariat was also formed. The following committees were established, namely (1) Standards Committee to take care of the review and upgrade of the PMRC 2007 Code, (2) Membership Committee to take care of inviting preferred organizations to become AOs, and the (3) Training Committee which will take care of continuing professional development of the Competent Persons (CPs) as well as applicants. Subsequently, three (3) more committees were formed. They are (4) the Governance Committee which will provide assistance on the development of a generic Complaint Procedure that can be adopted by the three (3) POs, (5) the Website and Publications Committee which will be handled by the PMRCC Secretariat and (6) the Ways and Means Committee to take care of raising operational funds.

Last February 26, 2019, the PMRCC had resolved to apply for membership in the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), the committee of all internationally recognized National Reporting Organizations (NROs). As a first step, CRIRSCO and PMRCC had signed a Memorandum of Understanding last February 27, 2019. Once the PMRC Code had been upgraded to CRIRSCO International Reporting Template 2013 and all conditionalities attained, it is hoped that PMRCC will be accepted as a CRIRSCO member by late next year.

The most important task is handled by the Standards Committee chaired by Mr. George Baquiran which had commenced the first pass review and upgrade of the PMRC 2007 Code last March 1, 2019. So far, three (3) meetings had been held. It is hoped that the first pass revised Code can be presented in a public hearing in the next month or two before being finalized with the PSE and submitted for approval to the Securities and Exchange Commission (SEC) by late this year.

The Membership Committee, chaired by Engr. Roger de Dios and Atty. Dennis Quintero, had conducted initial discussions with possible Associate Organizations, namely the Mines & Geosciences Bureau (MGB), and the Chamber of Mines of the Philippines (COMP). So far, MGB preferred that they just support the PMRCC and not join it since they are a regulatory agency. For COMP, they have shown interest in joining PMRCC. Also, there are continuing preliminary discussions with some members of the Financial Reporting Standards Committee (FRSC) which we hope will culminate to their organization joining PMRCC.

The Training Committee chaired by Engr. Eric Nera will concentrate on providing PMRC 101 Seminars for this year. One had already been held in Cebu City last 12 January spearheaded by the PSEM-Visayas Chapter.

The Website and Publications Committee, chaired by Engr. Leonardo Marcelo Jr. has been developing the PMRCC website. It became live about two weeks ago. It is still a work in progress. I encourage the PMRCC members to review and comment as soon as possible so that our website will be completed as soon as possible.

The Governance Committee chaired by Dr. Rogel Santos is involved in development of the GSP Complaints Procedure which can be a template for similar ones to be adopted by PSEM and SMEP.

In order to become a CRIRSCO member, there are also some housekeeping work to be done by our POs. These include Complaints Procedure, working websites showing their CP system including CP application and accreditation procedures, Code of Ethics and Complaints Procedure, and lastly, the successful re-accreditation of PSEM and SMEP as Accredited Integrated Professional Organizations (AIPOs) of the Philippine Professional Regulation Commission (PRC).

The next year will be challenging as we built PMRCC as a credible partner of the minerals industry with regards to technical reporting and in our hope of becoming a CRIRSCO member. With the enthusiastic support of our POs and AOs and all the PMRC members and Secretariat, I am confident that all challenges will be overcome.

As of March 31, 2019, the total expenses since the formation of PMRCC are as follows –

Notarial fees of PMRCC MOU & DoAs: ₱12,000.00

Downpayment for website design: ₱15,000.00

Meals during meetings: ₱10,855.50

10% GSP Admin Fee: ₱3,785.55

Total Expenses: ₱41,641.05

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