the Polillo Group of Islands off Quezon province that includes Balesin Island, which is owned by sister company Alphaland Corp.Atok said it is in talks with a major power company in China, but did not make further disclosures.
“The expansion into renewable energy is a significant step forward for AB, which is one of the oldest mining companies listed on the Philippine Stock Exchange Inc., having been incorporated in the early 1930s,” the firm said. Atok owns Tidemark Corp., which in turn owns 20 percent of Forum Energy Plc., which has a 70-percent stake in Service Contract 72 covering the Recto Bank. Oil and gas exploration at SC 72 was put on hold over the territorial dispute with China.“In expanding into renewable energy, the board of AB decided to participate in the climate change effort that the entire world is presently focusing on,” it said.The company produced gold as its major product and silver as a by-product.
It has two wholly-owned subsidiaries—AB Stock Transfers Corp., which establishes, operates and acts as a transfer agent and/or registrar of corporations, and Tidemark.