PH Dealbook: Philex Petroleum to secure major portion of $59.4m debt; Apex Mining aquires Itogon Suyoc

Philex Petroleum Corp is seeking to secure an outstanding portion of its $59.4 million (P2.6 billion) debt to its parent firm Philex Mining Corp. In another development, Apex Mining Company Inc has acquired 98 per cent of Itogon Suyoc Resources Inc.