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Over a thousand mine workers stand to lose jobs at Philex

More than 1,000 workers of Philex Mining Corporation might end jobless after the year 2024 if nothing will be done for its continuous operation.

Philex President and Chief Executive Officer Eulalio Austine fear more than 1,700 ranked-in-file, managers and contractors will be affected when the mine life of the firm ends.

Philex Mines closure is projected this year owing to the low gold production, though Austin sounding optimistic said, because of the high production of metal and its competetive price in the world market, Philex can continue its operation until 2024.

Austine said that the company is looking for possible solutions to ensure the continuity of the operation of the mines. He said this is to save the jobs of the workers and the families who are depending on them.

Philex, Austin continued, is looking into more projections of extending its mine life with the demand or preference of many people towards green economy. He explained that people are now embracing tecnologies like electronic vehicles and solar power energy among others. “For green technology and green economy to be sustained, it needs mining.”

He said if they will be able to extend the mine life of Philex after 2024, then its operations will have a great potential with green economy.

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