Creation of the Philippine Mining Development Corporation (PMDC)
(formerly the Natural Resources Mining Development Corporation)
The PMDC (then NRMDC) was incorporated with the Securities and Exchange Commission on July 4, 2003, pursuant to an authority contained in a Memorandum of the President of the Philippines dated April 9, 2003.
The PMDC is a wholly-owned and controlled government corporation with an initial authorized capital stock of One Hundred Million Pesos (100,000,000.00), 55% of the equity of which was from the Natural Resources Development Corporation (NRDC), and 45% from the Philippine National Oil Corporation – Energy Development Corporation (PNOC-EDC).
PMDC’s current capital structure is as follows:
- Natural Resources Development Corporation (NRDC) – 44%
- Philippine National Oil Company (PNOC) – 36%
- National Development Corporation (NDC) – 20%
Being a government corporation, the PMDC was attached to the Department of Environment and Natural Resources (DENR). Pursuant to DENRAdministrativeOrderNo.2003-38 and by virtue of a Memorandum of Agreement between and among the DENR, PMDC (then NRMDC) and NRDC, the PMDC was designated/appointed as the new implementing arm of the DENR in undertaking the mining and mineral processing operations in the 8,100 hectare Diwalwal Mineral Reservation located in the municipality of Monkayo, Compostela Valley Province.
From DENR, the PMDC was transferred to the Office of the President on July 18, 2007, through Executive Order No. 636 signed by President Gloria Macapagal Arroyo. On December 27, 2007, the PMDC was transferred back to the DENR through Executive Order No. 689 signed by President Arroyo. The transfer was made to closely monitor and oversee the efficient and effective implementation of the country’s utilization and development of its mineral resources.
Under the Presidential Memorandum dated April 9, 2003, the PMDC is primarily tasked to conduct and carry on the business of exploring, developing, mining, smelting, and producing, transporting, storing, distributing, exchanging, selling, disposing, importing, exporting, trading and promotion of gold, silver, copper, iron, and all kinds of mineral deposits and substances.
The PMDC has also been specifically tasked by the Philippine government to implement the program of putting up a world class mine in Diwalwal, municipality of Monkayo, Compostela Valley province. The company was created for the purpose of, among others, addressing the environmental, health, social and economic well being of the occupants of the area, and to rationalize the mining and mineral processing operations in the reservation for greater efficiency, and to provide for adequate environmental protection and mine rehabilitation measures.
While the original mandate focused on resolving conflicts in Diwalwal, the PMDC is also responding to the challenges of revitalizing the Philippine mining industry. The company does not intend to compete with privately-owned mining projects, but rather hopes to position itself as the catalyst for developing mining projects in areas where private investors find difficult to come in.
“By 2022, PMDC is a lucrative mining firm generating bigger revenues for the State, embracing first-rate norms in responsible mining, espousing policies that protect the environment, and helping transform communities into healthy, progressive and ecologically-sound settlements.
We serve as the government’s mining arm to generate revenue and develop progressive communities through responsible mining.
Board of Directors
Chairman & CEO
Department of Finance
Department of Energy
Development Bank of the Philippines
Philippine National Oil Company
National Development Company
National Development Company
Chairman and CEO
Corporate Secretary/Vice President for Operations
Vice President for Corporate Services
Manager, Legal Department
Manager, HR and Administration Department
Manager, Finance and Accounting Department
Manager, Project Management Department
Manager, Business Development Department
Office of the President
Office of the Vice President
Project Management Department/Business Development Department
HR and Administration Department
Finance and Accounting Department
Philippine Mining Development Corporation
3001B & C West Tower, Philippine Stock Exchange Center
Ortigas Center, Pasig City 1605, Philippines
Telefax : (63-2) 706-1630 to 31
Email : email@example.com