Philex Mining settles P1.034-B fine for Padcal disaster

Philex Mining Corp. on Monday paid the Department of Environment and Natural Resources P1.034 billion in fines for the Padcal mine disaster last year in which 20.6 million metric tons of effluence escaped from a broken tailings pond.

 

The check payment was made out to the Mines and Geosciences Bureau (MGB), an agency of the DENR.

 

Part of the money came from the $25-million claim of Philex from Chartis Insurance Philippines, Philex president and COO Eulalio Austin Jr. said, noting the miner will shoulder the rest of the expenses for environmental rehabilitation.

 

The insurance money from Chartis is the only claim by Philex regarding the accident that happened at the height of enhanced monsoon rains last August.

 

Philex will spend P4 billion for the environmental rehabilitation, said Austin. 

 

A separate penalty of P92 million was imposed against the miner by the Pollution Adjudication Board for polluting the Balog Creek and Agno River. — VS, GMA News