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left column pic lepanto bldg
left column pic lepanto bldg
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LEPANTO CELEBRATES 75 YEARS OF
RESPONSIBLE MINING


Lepanto Consolidated Mining Company was established in 1936. 2011 marks the company's 75th year in the business.

Lepanto is a Filipino primary gold producer. The Lepanto mines are located in Mankayan, Benguet where the Company has about a thousand employees.

From 1948 to 1996, Lepanto's Enargite operations produced 1.58 billion pounds of copper, 2.9 million ounces of gold and 12.0 million ounces of silver, recovered from 34.4 million MT of ore averaging 2.2% Cu and 3.5 g/t Au. Lepanto suspended its Enargite operations in 1996 and in 1997 commenced its Victoria gold operations. Lepanto presently operates the Victoria and Teresa deposits, from which it has produced over 1. 2 million ounces of gold.

 MESSAGES FROM
PRESIDENT AQUINO NICK HOLLAND
PURISIMA PAJE
Lepanto has a 60% interest in Far Southeast Gold Resources, Inc. which owns the Far Southeast Project, a world-class, high-grade gold and copper porphyry deposit. Lepanto is looking to develop the Far Southeast Project through a partnership with Gold Fields Limited of South Africa, one of the biggest gold miners in the world, with whom Lepanto executed an Option and Shareholders' Agreement in September 2010.

Lepanto has been a publicly-listed company since 1947. Its shares are traded on the Philippine Stock Exchange under the symbols LC and LCB and are highly liquid.

Lepanto Consolidated Mining Company is committed to achieving its business objectives with utmost care for the environment and concern for the welfare, safety and health of its employees and host communities.

"I am confident that the contribution of large scale mining to the GDP will steadily increase in the near future. Currently, mining contributes a meager 1.4% of the GDP of the country. With the opening up of the industry and the full support of the government, we expect to realize the full potential of the industry as an engine of growth not only in the host communities but for the entire nation."
                                          - Bryan Yap, Lepanto President and COO

message from the chairman and the president

chairman ang president photo The continued decline in gold and silver prices (the fourth year in a row), coupled with the challenge of efficiently mining the extensions of our Victoria orebody, made 2015 a difficult year. Gold prices averaged $1,145/oz., 10% lower than the previous year, while silver prices averaged $15.45/oz. versus $18.97 the previous year. We produced 21,190 ozs. gold, down from last year's 24,617 ozs., though silver production was slightly better at 49,938 ozs. versus 44,431 ozs. Selective mining based on higher cut-off grades reduced both metal production and operating costs. We ended the year with an operating loss of ₱ 777 million.
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READ THE 2015 ANNUAL REPORT
© 2008 LEPANTO CONSOLIDATED MINING COMPANY.
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