Itogon-Suyoc Resources, Inc. (ISRI) is a 100%-owned subsidiary acquired by Apex Mining Co., Inc. in June 2015. ISRI is the assignee company of the mining assets of the former Itogon-Suyoc Mines, Inc. (ISMI) since 2002, consisting of the Sangilo Mine in Itogon and the Suyoc Mine in Makayan, both located in Benguet Province and the Benit Claim in Labo, Camarines Norte.
Both Sangilo and Suyoc mines have a long history of mining operations since the Second World War. Post-war operations from 1951 to 1996 recorded a combined production of 1,285,242 ounces of Gold and 728,063 ounces of Silver from 8.2 million tonnes of ore, a remarkable feat considering the less efficient mining and processing methods of the past.
In 2015, a two-stage development program for the Sangilo Mine commenced, beginning with the construction of a 400-tonnes per day plant capacity with interim phases to reach 75 tonnes per day while underground development is being pushed through in fresh and old headings. Incidental production to 2016 accounted for 1,547 ounces of Gold valued at PHP92.1 million. The second stage plan is a separate plant at 1,500 tonnes per day, which brings the mine’s total installed capacity to 1,900 tonnes per day at the estimated total investment cost of US$68.8 Million.
The plan for the Suyoc mine is for a 300 tonnes per day operation, to commence plant construction and mine development work after the reserve validation of the mine now in progress is completed. The investment cost for the Suyoc mine is estimated to be US$36.8 Million.
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