Philex Mining appoints new president

MANILA, Philippines ?€" Philex Mining directors, officers and employees officially welcomed recently as the company?€™s new President and Chief Operating Officer (COO) Engr. Eulalio Austin Jr., 50 years old, a member of the Kankanaey tribe of western Mountain Province and a mining engineer who rose from the ranks over the last 28 years at Philex Mining Corp.

He will officially take on the new role effective January 1, 2012.

Engr. Austin graduated with a degree in Mining Engineering from Saint Louis University in Baguio in 1982, and started as a mining engineer trainee immediately the year after. Because of his technical competence and attitude towards work and his fellow workers, it didn?€™t take long for the Benguet-born young professional to be taking on more progressively responsible roles.

Philex Mining Corp. Chairman and CEO Manuel V. Pangilinan turned over the leadership to Engr. Austin from outgoing President and COO Jose Ernesto C. Villaluna who has announced his retirement after seven years with the company.

?€œI am confident that Engr. Austin will carry on build on the foundation that Mr. Villaluna has put in place, and continue to strengthen Philex?€™s position as the country?€™s pre-eminent mining company both in terms of revenue and as a prime example of good governance and responsible mining,?€ noted Mr. Pangilinan.

?€œThese are very exciting times for Philex, with the development and operations of Silangan over the next few years as well as other opportunities for growth, and the Board is confident that under the leadership of Engr. Austin the company will continue to succeed as it has for more than 50 years,?€ the Chairman and CEO added.

Engr. Austin spent 20 years working in the underground tunnel operations.

He joined Philex Mining in 1983 as entry-level Junior Mining Engineer and worked to become Mine Division Manager, one of the highest ranks running the underground operations.

In January 2004, he was appointed Vice President and Resident Manager of the Padcal Mine, managing the day-to-day operations and ensuring attainment of programmed production, adherence to government environmental regulations and compliance to corporate social responsibility.

As Philex Mining set its sights on other mining projects outside of Padcal, Engr. Austin was designated Senior Vice President for Operation in November 2010. He is entrusted to develop the US$1-billion Silangan gold-copper project in Surigao del Norte. He has targeted commissioning in 2016.

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