Philex Mining Corporation is the largest gold and copper producer in the Philippines, having continuously operated the Sto. Tomas II deposit at Padcal, Tuba, Benguet, Philippines since 1958. The Padcal gold-copper mine is the first underground block cave operation in the Far East and has produced since 1958 a total of 928.9 million kilograms of copper (2,050 million pounds), 170.1 million grams of gold (5,471.1 thousand ounces) and 185.6 million grams of silver (5,981.5 thousand ounces).
In 1996, Philex Mining commenced commercial operation of the Bulawan gold mine in Negros Occidental, Philippines under its subsidiary, Philex Gold Philippines, Inc. (PGPI). The mine was eventually decommissioned in 2002 and since then placed under care and maintenance. PGPI focused on its Surigao property where the Boyongan and Bayugo copper-gold porphyry deposits were discovered and explored under Silangan Mindanao Mining Co. Inc. The Silangan Project is currently in its pre-feasibility study stage.