Effective 10 February 2023, Apex Mining Co., Inc. took over Asia-Alliance Mining Resources Corporation (AAMRC) with the signing of the Deeds of Absolute Sale.
With this acquisition, the mining operation of APX in Maco, Davao de Oro will be able to expand and the company will have a suitable site for a new tailing storage facility (TSF) when its existing TSF reaches its full capacity in the next three years.
2024 ANNUAL REPORT
In January 2024, the Asia-Alliance Mining Resources Corp. (AAMRC) was granted the Authority to Verify Minerals and conducted a series of exploration campaigns to validate the remaining reserves left by the previous operations of North Davao Mining Corporation in Amacan and Hijo. APX took over Asia-Alliance Mining Resources Corp. (AAMRC) in February 2023. The acquisition of AAMRC provided APX access to the AFTA-000014-XI tenement which covers more than 19,000 hectares containing at least 45 multiple mineral prospects.
Amacan Exploration
Amacan Copper Project covers the Amacan porphyry copper deposit located within Parcel II of AFTA-000014-XI. Known as the Amacan Group of Copper Prospects, it hosts five notable porphyry copper prospects — Amacan, Piaminyan, Tarago, Site-E, and Gopod. Activities under the ATVM started in June 2024 and focused on geological mapping and bench sampling over an area of 524 hectares; a total of 431 assayed samples were collected. Drilling operations between August and December 2024 encompassed a total of 22 priority holes considering a pit bottom of 900 mASL and cut-off grades of 0.2% Cu for ore and 0.1% Cu for marginal material. Both in-house and a drilling contractor advanced a total of 7,348 meters, along with one (1) exploration hole located at the eastern extension of the Amacan Pit.
Hijo Exploration
The Hijo-Barrio-Palale (HBP) gold prospect is the most significant mineralized zone within the Hijo Group, located in the southwestern portion of AFTA-000014-XI, covering approximately 1,200 hectares. In 2024, 25 drill holes were done in HBP to define the extent of limestone breccia mineralization.
Community Development Program
Host Barangays: New Leyte, Maco and Golden Valley, Mabini.
In 2024, the one-year Community Development Program (CDP) in the context of the AAMRC’s Exploration application under the terms and conditions of the Authority to Verify Minerals (ATVM) was approved. The budget of Php 15,783,750.00 is allocated for the Development of Host and Neighboring Communities (DHNC) and Information, Education, and Communication (IEC) Programs. The target date for the implementation of these programs is 1st Quarter of 2025, pending the approval of the submitted CDP to the Mines and Geosciences Bureau (MGB) Regional Office XI.
ENVIRONMENTAL WORK PROGRAM PHP 5,680,000
The Environmental Work Program (EWP)* focused on the protection and rehabilitation of the areas disturbed during the Authority to Verify Minerals (ATVM) process of AAMRC and was structured into seven key activities: land resources; water resources; air quality; biological environment; environmental monitoring; socio-economic initiatives; and Baseline Data Gathering.
In 2024, AAMRC prioritized nursery operations, including the propagation of temporary slope revegetation plants. The company also joined various environmental events to promote conservation values. Regular monitoring of terrestrial flora and fauna, air quality, water quality, noise levels, and weather conditions was also conducted to ensure environmental compliance.
On the socio-economic front, AAMRC conducted Information, Education, and Communication (IEC) campaigns on Environmental Awareness at Sitio Palale and donated trash bins in support of waste management.
*The EWP is a comprehensive and strategic environmental management plan designed to achieve key environmental objectives, criteria, and commitments.
