DIZON Copper-Silver Mines, Inc. is selling more than 20,000 square meters (sq.m.) of land in Subic, Zambales.
In a disclosure on Thursday, the listed mining company said its board has authorized the “disposal of the land consisting of 20,534 sq.m. located at Barangay Matain, Subic, Zambales.”
The land was formerly the site of the company’s storage facility for copper concentrates and a loading pier called Port of Dizon.
Dizon told the stock exchange it is selling the property to improve its cash position and equity. The company did not provide other details.
Dizon was incorporated in 1966. Aside from the Subic property, it has a mineral processing permit in the Bayaring Tailings dam and 4,070 sq.m. of land in Barangay Parada, Valenzuela City.
In the third quarter, the mining company reported wider net loss to P652,363 from P228,093, year-on-year.
Shares in Dizon increased 0.07 points or 0.99% to close at P7.12 each in the stock exchange on Thursday. — Vincent Mariel P. Galang