Exploration and Development

Geogen Corporation (Geogen)

Geogen holds a mineral property under MPSA No. 258-2007-II. The property is located in the northeastern portion of Luzon, near the coast in Brgy. Dimaluade, Municipality of Dinapigue, province of Isabela. The project is known as the Isabela Nickel Mining Project, which covers an area of 2,392 hectares.

Exploration drilling was performed in the northernmost part of the MPSA contract area to confirm the adequacy of previous drilling results and to block additional resources. A total of 192 holes with an aggregate length of 3,146.82 meters were completed.

Cordillera Exploration Co., Inc. (CExCI)

CExCI has an Exploration Permit (EP) over the Manmanok property in Apayao province, an application for EP over the Kutop property in the province of Abra, and an application for Financial and Technical Assistance Agreement (FTAA) over the Mankayan property, within the adjoining provinces of Benguet, Ilocos Sur and Mountain Province, part of which is in the process of conversion to EPs. It purchased 100% of Newminco Pacific Mining Corporation in 2015.

Newminco Pacific Mining Corporation (Newminco)

Newminco holds an EP for copper, gold, and related base and precious metals over an area located in Cabangan, San Felipe, and San Marcelino in the province of Zambales. The decision to acquire the company was made following the discovery of outcropping quartz veins, the sampling of which in part returned good assays for gold.


  • The Bulanjao property is located in Palawan Island and is under an old mining lease contract covering 3,604.5 hectares, pending conversion to MPSA.
    Partially drilled in the 1990s, with measured and indicated resources of 19 million WMT of limonite ore with average grades of 1.24% nickel and 35.5% iron, and 11.1 WMT of saprolite ore at an average grade of 1.77% nickel.
  • In December 2014, the Palawan Council for Sustainable Development granted the Strategic Environmental Plan clearance, which is required for the conversion of the mining lease to MPSA. The process for the conversion is underway. Further drilling will take place upon the issuance of the MPSA.


  • The MPSA under HMC covers 1,165 hectares in the Island of Manicani. Partial drilling of the deposit was done in the 1990s. Between 1991 to 1993, mining took place and 64,308 WMT of saprolite ore with an average grade of 2.44% nickel was shipped out. Between 2001 and 2005, about 99,710 WMT of saprolite ore materials with an average grade of 2.23% nickel, and about 61,560 WMT of limonite ore grading 1.69% nickel were shipped out from the stockpiles.
  • In 2002, mining activities were suspended by the DENR. Since then, the site has continued to implement its environmental and community development programs. With the support of the majority of the residents in Manicani, a petition to lift the suspension and resumption of the operations is waiting for approval from the DENR. Application for the renewal of the MPSA is also pending. In 2015, the DENR approved to ship out the old stockpiles from the island due to environmental reasons.


  • The operating rights to the property are governed by an Operating Agreement entered into in February 2007 between TMC and Kepha Mining Exploration Corp. (Kepha), covering an area of 6,980.75 hectares adjacent to TMC’s operations.
  • Drilling of the property started in 2013. Exploration activities, however, were temporarily suspended due to an inter-tribal conflict on which tribal communities should be considered as the host communities. This has been resolved with the assistance of the National Commission for Indigenous and drilling will resume in 2016.

La Salle

The operating rights to the property located in Surigao del Norte are governed by an Operating Agreement entered into in December 2006 between TMC and La Salle Mining Exploration Company, covering an area of 6,824 hectares, which has since been reduced to 2,234.958 hectares.

Formations of lateritic nickel were found on the southwestern portion

of the property, adjacent to the Kepha property, which will be subject to further exploration work.


Emerging Power Inc. (EPI)

EPI is primarily engaged in the renewable energy business and holds equity interests in the following companies also engaged in renewable energy.

Jobin-Sqm, Inc. (JSI)

JSI completed 32MW of solar power in early 2017. JSI is developing a 100 mw solar plant in Subic Freeport zone in Zambales. JSI also holds a 50 mw wind service contract.

Biliran Geothermal Inc. (BGI)

BGI is the holder of two (2) geothermal service contracts in the province of Biliran. Five (5) wells have been drilled by EPI's 40% partner, Biliran Geothermal Holdings, Inc. and fluid management studies have been completed on one particular well, with positive results with respect to acid control. Given this outcome, a decision has been made to proceed with the first 5 MW plant once the power sales agreements have been obtained. BGI is in an advanced exploration stage when EPI acquired it in 2015.

Mindoro Geothermal Power Corporation (MGPC)

MGPC holds a geothermal service contract in Montelago, Oriental Mindoro. The two (2) wells drilled during the year have not reached sufficiently high temperatures to warrant moving ahead to development. Various options are currently being considered in order to drill the northern portion of the geothermal field.