Abra Mining and Industrial Corporation ( AMIC ) was officially registered with the Philippine Securities and Exchange Commission (SEC) on September 27, 1964 as “Abra Industrial Corporation” with its’ main industrial business interests in Cement Manufacturing. Several limestone deposits in the province of Abra were explored and discovered to contain high-grade limestone, which is ideal for the manufacture of high quality Portland cement.
In the late 60’s, the Abra Cement Project was shelved in favor of the more popular Gold as the Philippines was experiencing a surplus in the cement manufacture. The company’s discovery of a huge high-grade vein deposit in the Cordillera Mountains of the Abra province compelled the company to reevaluate its’ core business focus. This crux shift coincided with the company’s change of name from the original industrial company to a broader and more fitting identity “Abra Mining and Industrial Corporation”. This transformation extended the company’s principal business concentration and bridges the gap between its’ non-metal and metal ventures.
The ever increasing public clamor and the Stock Exchange’s unrelenting pressure for additional listing of new mining shares coupled by the buoyant and optimistic future of the valuable metals specifically Gold, Copper and Silver compelled the company management to go public and subsequently listed at the two major predecessor exchanges then of the Philippine Stock Exchange on December 24, 1969.
To date, Abra Mining and Industrial Corporation (AMIC) has an authorized capitalization of PHP5,000,000,000 (US$122,000,000 at about P41 to the US$). AMIC is being traded at the Philippine Stock Exchange (PSE) under the stock symbol “AR” whose main line of business concentrations are Lime, River Minerals & Aggregates, Magnetite, Gold, Silver and Copper. With the recent discovery of the strategic metals Palladium and Platinum, the company surreptitiously researches the most up-to-date processing methods and latest recovery techniques of these minerals. Latest samples sent to the Mines and Geosciences Bureau (MGB) has been more than promising. Since then it has been getting the attention of the bureau, prompting Mines’ Director to send a team of technical people to further investigate the company’s property and extend its unwavering support to help out in its research as well as document the existence of these strategic minerals as this will be a milestone project for the company and for the country as well.
Aside from the Baticang-Bucay Limestone Project, Abra Mining also holds several other mining claims hitherto all in the province of Abra. The other properties are the Capcapo Copper-Gold Project, the Patok Gold-Silver-Copper Operation (PGO), the Abra River Alluvial Projects also comprising its Aggregates, Magnetite Iron Sand & Placer Gold Operation and on the western flank of the Abra River, the Sanvig – Abra River Delta with the same Alluvial deposit as the upper portions of the Abra River System. |