December 7, 2022

Philex Mining Corp., one of the oldest mining companies in Padcal, Tuba, Benguet, and one of its labor unions have signed a three-year collective bargaining agreement that will deliver P43.5 million worth of salary increase, insurance, and other benefits to the union members and their families.
The CBA covering 2020 to 2022 was signed Aug. 5 in Baguio by PMC represented by president and chief executive officer Eulalio Austin and Philex Mines Supervisory Employees Union (Pmseu) led by its president Dominador Sotelo with officials from the Department of Labor and Employment and National Conciliation and Mediation Board as witnesses.
Pmseu is composed of 463 underground and surface mine supervisors.
In the CBA, each member of the Pmseu will be entitled to P800 wage increase per month that will take effect every May 1 from 2020 to 2022 but the compensation system presently maintained by the company shall govern wages/salaries of employees upon probationary hiring and eventual regularship.
Union members are also covered by financial assistance up to a maximum of P25,000 per annum per family but the assistance shall be limited to cases that require confinement, except for the amount of P10,00 which may be utilized for outpatient medicines and diagnostic procedures.
The union is also covered by group life insurance and accident protection plan of P600,000 (double the face value in case of death due to accident while on duty) for underground supervisors and P500,000 for surface supervisors.
The company will also extend bereavement assistance to the union members and their dependents. 
Union members will also be entitled to bonuses and productivity incentive schemes depending on their length of service, which starts at five years with loyalty cash awards from P800 to P1,100 plus certificates.
Austin commended the Philex management team and Pmseu for reaching a CBA contract, which he said will ensure industrial peace and harmony after the company, in its June disclosure, announced it will extend the lifespan of its Padcal mine operation until 2024. 
The company earlier projected to end its Padcal operation by 2022.
Philex announced it will do “relentless operational and cost improvements to optimize the remaining mineral resources of the Sto. Tomas II ore body.”
The extension beyond 2022 would mean more revenues for the government, more development for the host and neighboring communities, more employment, and more benefit for shareholders and all other stakeholders, according to Austin.
Philex is one of three Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Metro Pacific Investments Corp. and PLDT, Inc. – Harley F. Palangchao