Silangan Mindanao Mining Co. Inc. (SMMCI), a wholly-owned subsidiary of Philex Mining Corp., one of the oldest and largest gold and copper producers in Southeast Asia, signs a deed of accession for additional $70 million, with additional lenders who syndicated the credit facility, in simple ceremonies in Makati City. Attending the signing of the deed of accession are (from left) Philippine Bank of Communications president and CEO Patricia May Siy, Security Bank Corp. senior vice president John Cary Ong, Silangan Mindanao president and CEO Eulalio Austin Jr., chairman Manuel Pangilinan, CFO and treasurer Romeo Bachoco, Philippine National Bank president and CEO Florido Casuela and Marvin Matias of SB Capital Investment Corp. The signing completes the total loan facility of $170 million needed to bring the Silangan project into commercial operation by the first quarter of 2025.
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