August 3, 2012 / 1:40 AM / 5 years ago

Philippines' Philex closes gold mine on safety issue

MANILA, Aug 3 (Reuters) - The Philippines’ biggest gold and copper producer, Philex Mining Corp, said on Friday it had closed its main Padcal mine in northern Benguet province following weeks of heavy rains that caused an “accidental discharge” from its underground tunnel.

The state regulator Mines and Geosciences Bureau has issued a cease operation order on Philex until it assures the safety of its tailings pond.

“As a precautionary measure, Philex took the prudental step of stopping the operation of its Padcal mine (from Wednesday) for the purpose of conducting a full inspection of the tailings pond and the surrounding areas,” it said in a disclosure. (Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)

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