By Richmond Mercurio | The Philippine Star | July 10, 2025 | 12:00am

MANILA, Philippines — The Villar Group is expected to bolster its mining business with the potential purchase of the Philippine Associated Smelting and Refining Corp. (PASAR) from global commodities trading giant Glencore.

Bloomberg has reported that Glencore would sell PASAR, the only copper smelter and refinery in the Philippines, to the Villar family.

The STAR reached out to the Villar Group but they declined to comment.

A representative of Glencore also said that the company is not commenting on the matter.

China Bank Capital Corp. managing director Juan Paolo Colet said the deal, should it pushes through, is a well-timed strategic move to boost the mining business of the Villar family.

“The acquisition will complement their existing copper mining assets and potentially enhance their position in the metals value chain. The deal comes at a time of rising copper prices due to Trump’s tariff policy, so this should be positive for Mr. Villar’s copper portfolio,” Colet said.

The Villar family’s mining portfolio includes St. Augustine Gold and Copper Ltd., an advanced-stage developer focused on the King-king Copper-Gold project in Mindanao.

“This gives the Villar family a foothold in copper smelting. It’s a tough time for the industry, but it adds diversification and long-term potential,” Luis Limlingan of Regina Capital said.

PASAR has earlier announced that it would put its Leyte plant site into care and maintenance as part of an ongoing evaluation of the operation and increasingly challenging market conditions.

The PASAR copper smelter, which was completed in 1983, occupies 80 hectares in the Leyte Industrial Development Estate. Its primary product is electrolytic copper cathode.

Source: The Philippine Star

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