Philex Mining Corp. v. Commissioner of Internal Revenue G.R. No. 148187 April 16, 2008 Ynares-Santiago, J. FACTS: Philex Mining Corp. entered into an agreement with Baguio Gold Mining Co. for the former to manage and operate the latter’s mining
Philex Mining Corporation vs. CIR [G.R. No. 148187 (April 16, 2008)] Post under case digests, Civil Law at Tuesday, February 21, 2012 Posted by Schizophrenic Mind Facts: Petitioner Philex entered into an agreement with Baguio Gold Mining Corporation for the former to manage the latter’s mining claim know as the Sto. Mine.
Philex-Padcal Mine (Santo Tomas II deposit), Baguio District, Benguet Province, Cordillera Administrative Region, Luzon, Philippines : A copper mine owned by Philex Mining Corp. Mining started in 1958 at 800 tons/day which has risen to 25- 27 kton/day (2006). Mining is done only in the Santo Tomas II deposit with block-caving.
Baguio Gold would contribute P11M under its owner’s account plus any of its income that is left in the project. petitioner asserts that it could not have entered into a partnership agreement with Baguio Gold because it did not “bind” itself to contribute money or property to the project. the non-revocation or non-withdrawal under ...