DHI Targets Tampakan Project Control in Bid to Become Philippines’ Largest Mining Company

 

DHI Moves to Take Control of Tampakan Project in Major Mining Expansion

Dominion Holdings Inc. (DHI) is positioning itself for a dramatic transformation as it moves to consolidate control of the Tampakan copper-gold project in South Cotabato while preparing a substantial increase in its capitalization.

The company’s board has approved a proposal to increase its authorized capital stock to P30 billion from P3.42 billion, a move intended to support the planned corporate restructuring, future fundraising activities and expansion initiatives.

At the center of the strategy is a proposed merger involving DHI, Indophil Resources Phils Inc. and Sonar Holdings Inc. The two companies collectively own all voting rights in Sagittarius Mines Inc. (SMI), the company that holds the financial and technical assistance agreement for the Tampakan project.

Once the transaction is completed, DHI will emerge as the surviving corporation and assume 100 percent of the voting rights in SMI, giving it controlling ownership of one of the Philippines’ most significant undeveloped mineral assets.

The Tampakan copper-gold project, located in Mindanao, could substantially alter DHI’s position within the Philippine mining industry. China Bank Capital Corp. Managing Director Juan Paolo Colet said the project’s estimated gross reserves could be worth approximately $150 billion to $200 billion, underscoring the potentially enormous economic value of its development.

The scale of Tampakan gives DHI an opportunity that extends well beyond a conventional corporate expansion. If successfully developed, the project could serve as the cornerstone of a diversified mining portfolio, potentially generating substantial shareholder returns while strengthening the country’s mineral resources sector and contributing to broader economic activity.

DHI has already begun building that portfolio.

Last month, the company entered the mining sector through the acquisition of a 20.43 percent stake in Atlas Consolidated Mining and Development Corp. DHI secured subscription rights to 727.2 million Atlas common shares from Anglo Philippine Holdings Corp. of the Ramos family under a deed of assignment.

Atlas, which is listed on the Philippine Stock Exchange, operates in metallic mining and mineral development through its subsidiary Carmen Copper Corp.

The acquisition signals that DHI’s strategy is not limited to a single mining project. Under its new ownership structure, the company plans to focus primarily on investments in mining corporations, with the objective of building long-term value through a broader collection of resource assets.

That direction represents a major departure from DHI’s previous identity. Formerly known as BDO Leasing and Finance Inc., the company is being repositioned as an investment holding firm as part of a wider restructuring within the BDO Group.

The company is also preparing for changes at the board level. Its approved nominees for the 2026 to 2027 term include Isidro Consunji, Henry Sy Jr., Frederic DyBuncio and Tulsi Das Reyes as regular directors. Rosmari Carandang, Leonardo Cuaresma Jr. and Vicky Castillo Lim Tan have been nominated as independent directors.

With the proposed merger, capitalization increase and initial mining investments moving forward in tandem, DHI is effectively laying the corporate infrastructure for a much larger role in the Philippine resources industry. The success of that strategy, however, will ultimately depend on the development and commercial realization of the assets now being brought under its control.