Dominion Holdings gearing up to become biggest mining firm

MANILA, Philippines — Dominion Holdings Inc. (DHI) is preparing for a major expansion push that could make it the largest mining company in the Philippines, with control of the Tampakan copper-gold project and a significant hike in its authorized capital stock in the pipeline.

DHI’s board has approved a plan to raise its authorized capital stock to P30 billion from P3.42 billion, the company said in a stock exchange filing yesterday.

The capital increase relates to a proposed merger of DHI with Indophil Resources Phils Inc. and Sonar Holdings Inc., as well as for future capital-raising efforts and expansion programs.

DHI will merge with Indophil and Sonar, which together hold 100 percent of the voting rights in Sagittarius Mines Inc. (SMI), with DHI as the surviving entity.

SMI holds the financial and technical assistance agreement covering the Tampakan copper-gold project in South Cotabato, Mindanao.

Post-merger, DHI will hold 100 percent of the voting rights and will acquire controlling ownership in SMI.

China Bank Capital Corp. managing director Juan Paolo Colet said the deal could transform DHI into the largest mining company in the Philippines.

“By some estimates, the Tampakan copper and gold reserves have a gross value of around $150 billion to $200 billion, so the successful development of this project could generate significant returns to DHI’s shareholders, strengthen the country’s resource sector and contribute meaningfully to national economic growth,” Colet said.

DHI’s board has also approved the final list of nominees for election to its board for 2026 to 2027.

The nominees include Isidro Consunji, Henry Sy Jr., Frederic DyBuncio and Tulsi Das Reyes as regular directors and Rosmari Carandang, Leonardo Cuaresma Jr. and Vicky Castillo Lim Tan as independent directors.

Under new ownership, DHI intends to build a broader asset portfolio by primarily investing in mining corporations to achieve long-term growth and returns.

Formerly known as BDO Leasing and Finance Inc., the company is being repositioned as an investment holding company as part of the broader restructuring within the BDO Group.

Last month, DHI made its first investment in the mining industry by acquiring a 20.43-percent stake in listed Atlas Consolidated Mining and Development Corp.

DHI signed a deed of assignment to acquire subscription rights to 727.2 million common shares of Atlas from Anglo Philippine Holdings Corp. of the Ramos family.

Atlas is a public company listed on the Philippine Stock Exchange that, through its operating subsidiary, Carmen Copper Corp., is engaged in metallic mining and mineral development.