- Business
- TVI Pacific Inc. TVI Pacific Inc. (TSXV: TVI), a publicly traded Canadian resource company founded in 1987 and headquartered in Calgary, Alberta, engages in the evaluation, acquisition, development, exploration, and production of mineral resource projects primarily in the Asia-Pacific region, with a focus on the Philippines. The company holds a 30.66% equity interest in TVI Resource Development Phils., Inc. (TVIRD), its Philippine affiliate that operates key mining assets including the 100%-owned Balabag gold-silver mine in Zamboanga del Sur and Sibugay provinces, which produces gold doré bars containing gold and silver; the Siana gold mine and adjacent Mapawa project owned through 100%-owned Greenstone Resources Corporation (GRC), yielding gold and silver doré from milling low-grade stockpiles and advancing toward underground operations; a 60% indirect interest in the Mabilo copper-gold-iron skarn project in Camarines Norte via Mt. Labo Exploration and Development Corporation, targeting direct shipping ore followed by copper concentrates with gold, silver, magnetite, and pyrite by-products; a 60% interest in the Agata Mining Ventures Inc. joint venture for nickel laterite, iron, and limestone projects in Mindanao; and an option to acquire 60% of the Pan de Azucar polymetallic mining joint venture exploring for pyrite, copper, zinc, gold, and silver deposits. TVIRD manages these operations across Mindanao and other Philippine regions, emphasizing responsible mining practices that have earned multiple Presidential Mineral Industry Environmental Awards (PMIEA) for safety, environmental performance, and community engagement; TVI also maintains a 14.4% stake in Mindoro Resources Ltd. and minor petroleum interests. Recent developments include TVIRD's Phase 9 and 10 drilling programs at Balabag in the first half of 2025, which expanded Measured and Indicated gold equivalent resources by 14.5% to 88,412 ounces through 17,089 meters across 134 holes, supporting open-pit extension and underground potential; ongoing Siana mill stabilization post a resolved 2024 tailings incident, with 41,952 gold equivalent ounces produced cumulatively by June 2025 and transition to underground mining; advancement of Mabilo permitting, land acquisition, and infrastructure planning under care and maintenance; resumption preparations for Pan de Azucar drilling following a lifted cease-and-desist order and MPSA renewal process; receipt of PHP 150 million dividends from TVIRD in April 2025; corporate funding commitments including promissory note issuances and advances totaling over CAD $0.5 million in 2024; and management changes announced in July 2024. Balabag achieved 156 cumulative shipments by June 30, 2025, delivering 139,015 ounces of gold and 2.8 million ounces of silver, while Siana processed 1.19 million tonnes of feed; these assets, alongside historical successes like the Canatuan gold-silver-copper-zinc mine (closed 2014) and Agata nickel-iron operations (ended 2023 with 20.78 million wet metric tonnes shipped), underscore TVI's strategy of portfolio diversification and value creation through affiliate growth.