Benguet Corporation
Philippine mining company From Wikipedia, the free encyclopedia
Philippine mining company From Wikipedia, the free encyclopedia
Benguet Corporation is a diversified Philippine business enterprise. Founded in 1903 as the Benguet Consolidated Mining Company[2] by three American G.I.s following the Philippine-American War,[1] it is the oldest mining company in the country. The company operates gold mines in Benguet province and Jose Panganiban, Camarines Norte; chromite mines in Masinloc, Zambales; and copper mines in San Marcelino, Zambales.[3]
Founded | 1903 |
---|---|
Founders |
|
Headquarters | Makati |
Area served | Philippines |
Key people | Daniel Andrew Romualdez (Chairman) Benjamin Philip Romualdez, Jr. (CEO) |
Website | benguetcorp |
The company is mainly active in the mining industry, yet has come to incorporate other activities including forestry/reforestation, chemical testing and research, ecotourism, trucking and warehousing, heavy equipment leasing, trading and real estate.[4]
In 2024, BC ended its 30-year debt restructuring contract clearing its real estate from mortgage adverse claims since 1933. It signed a joint rescission with its creditors, Wilshire Business Consulting Corp. and Armstrong Capital Holdings Corp., with trustee Philippine Veterans Bank.[5] From March 31, 2025, the DENR granted BC a 25-year renewal, as operator for its Mineral Production Sharing Agreement (MPSA) No. 154-2000-III held by Balanga Bataan Minerals Corporation. The March 1996 operating contract covers 1,410 hectares in Bagac, Mariveles and Limay in Bataan province.[6]
In August 2016, the Benguet Corporation was facing a $500,000 fine for tailings leak from its old Antamok mine in Itogon, which resulted in the pollution of the Agno, Liang, and Ambalanga rivers.[7] In September 2018, the trial against Benguet was still going on, the defense arguing that leaks were a result of natural causes and thus Benguet should not be held accountable for the heavy water pollution of the area.[8]
In 2017, Benguet was also called for by the local media for being responsible of the polluting leaks affecting the Dizon mine. The company denied all implications, arguing it was only active at the mine from 1975 to 1995.[9]
In September 2018, the Benguet Corporation also faced claims that it was encouraging small-scale and illegal mining operations at the Itogon mine, officially inactive since 1990. The Itogon mine had just been hit a major landslide that caused 10 deaths and 50-60 missing persons. The Benguet Corporation denied encouraging the presence of the illegal gold diggers.[10]
Seamless Wikipedia browsing. On steroids.
Every time you click a link to Wikipedia, Wiktionary or Wikiquote in your browser's search results, it will show the modern Wikiwand interface.
Wikiwand extension is a five stars, simple, with minimum permission required to keep your browsing private, safe and transparent.