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88 years of responsible mining
Lepanto Consolidated Mining Company is a Filipino primary gold producer. Lepanto has been a proud corporate resident of Mankayan, Benguet since 1936.
From 1948 to 1996, the Enargite operations produced 1.58 billion pounds of copper, 2.9 million oz. of gold and 12.0 million oz. of silver, recovered from 34.4 Mt of ore averaging 2.2% Cu and 3.5 g/t Au.
The Victoria deposit was discovered within the same Mineral Production Sharing Agreement (MPSA No. 001-90-CAR) in September 1995. Immediately, exploration and mine development work shifted from the Enargite deposit to the Victoria. In preparation for the milling of the gold ore, the copper flotation circuit was shut down on January 31, 1997. A new 2500-t/d carbon-in-pulp or CIP plant was commissioned on March 16, 1997. Lepanto engaged in copper operations but twice thereafter: in 2008, and from 2017 to the first quarter of 2020.
During the first three years of gold operations, the Victoria was accessed through the same infrastructure utilized for the old Enargite mine, principally the Tubo Shaft. To provide easier access to the Victoria and improve ventilation, the Nayak Twin Decline project was started in July 1998. Two declines stretching 1 kilometer from the surface to the 1150L and an internal shaft were constructed in the Nayak Area. The project was completed in April 2000 at a cost of P675 million (M$15.0). A few years later, the Victoria II deposit, renamed Teresa, was discovered.
Lepanto continues to produce gold from its Victoria and Teresa operations (“Victoria Project”), located in Mankayan, Benguet. The Victoria Project has produced over 1.55 million oz. gold and 2.79 million oz. silver from 1997-2023.
Lepanto has three wholly-owned subsidiaries, namely: Diamond Drilling Corporation of the Philippines, Lepanto Investment and Development Corporation and Shipside, Incorporated.
Lepanto owns 60% of the outstanding capital of Far Southeast Gold Resources, Inc. (“FSGRI”), another mining company with resources in Mankayan, Benguet. Incorporated in 1989, FSGRI is not yet in operation. On September 20, 2010, Lepanto entered into an Option and Shareholders Agreement with Gold Fields Switzerland Holding AG which grants Gold Fields an option to subscribe to new shares of stock of FGSRI. In July 2024, Lepanto, FSGRI, and the Gold Fields group agreed to terminate the Option and Shareholders’ Agreement. The exploration program sole-funded by Gold Fields has resulted in an inferred mineral resource of 19.8 million oz. gold and 4.6 million tons copper.
ENVIRONMENTAL
MANAGEMENT SYSTEM
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ISO 14001:2015 certified
TÜV NORD Philippines, Inc. recommends the maintenance of Lepanto’s ISO 14001:2015 certification... See more
CORPORATE SOCIAL
RESPONSIBILITY
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Aside from the hospital services, medical and dental assistance are extended to the communities...See more
STOCKHOLDERS' MEETING
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Corporate News
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TERMINATION OF OPTION AND SHAREHOLDERS’ AGREEMENT
WITH GOLD FIELDS
Lepanto Consolidated Mining Company, its subsidiary Far Southeast Gold Resources, Inc. (FSGRI), and the Gold Fields group have agreed to terminate the Option and Shareholders’ Agreement dated 20 September 2010 in respect of the Far Southeast Project. The exploration program sole-funded by Gold Fields has resulted in an inferred mineral resource of 19.8 million oz. gold and 4.6 million tons copper. Lepanto intends to find a partner to develop the Far Southeast Project .
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LEPANTO WELCOMES ENGR. JAMES ALMAAS
Lepanto is pleased to announce the election of Engr. James P. Almaas as a member of Lepanto’s Board of Directors during the annual stockholders’ meeting on June 10, 2024.
Lepanto has been consulting with Mr. Almaas in the last few years, and benefitting from his expertise in the areas of Mine Management, Mine Engineering, Due Diligence and Strategic Planning. Prior to establishing JPA Mining Consultants PLC in 2016, Mr. Almaas worked with Rio Tinto PLC for 20 years, where he served as manager for three departments: Mine Development, Mine Dewatering, and Reclamation.
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LEPANTO SIGNS TWO NEW 3 -YEAR CBAs
In a back-to-back historic event, the Lepanto Consolidated Mining Company (LCMC) signed the Collective Bargaining Agreements (CBA) with its two labor unions last July 5, Friday at Baguio Country Club.
Dubbed “the fastest CBA negotiations”, both the 942-strong Lepanto Local Employees Union (LLEU) and the 222-member Lepanto Local Staff Union (LLSU) resolved their CBAs in less than five sittings.
LCMC President and COO Bryan U. Yap attributed the fast and peaceful conclusion of CBA negotiations to mutual trust and deep concern of the management and labor unions.
Subsidiaries and Affiliates
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Diamond Drilling Corporation of the Philippines
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Shipside Incorporated