Research
Original analysis on Philippine copper, the forces driving global demand, and the value chain connecting supply to capital.
Strategic Briefing
The Copper Bottleneck
AI Infrastructure, Philippine Reserves, and the Case for Parallax
The foundational thesis. Covers the structural acceleration in copper demand, the Philippine supply opportunity, the regulatory and political terrain, the key corporate and government players, and an initial mapping of where commercial value can be created.
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Factsheet
Parallax at a Glance
The problem, the proposition, and where Parallax fits
One-page overview of the copper supply deficit, the Philippine opportunity in numbers, the regulatory window, key risks, and Parallax's potential value-chain positions.
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Research Note 001
How Philippine Copper Moves
From Ore to Cathode to End Buyer: The Value Chain, the Economics, and Where the Philippines Sits
Maps the six-stage copper value chain from exploration to fabrication. Examines the TC/RC collapse, China's smelting dominance, the PASAR shutdown and potential Villar acquisition, and where a new entrant might position itself.
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Research Note 002
From Mindanao to Market
Ports, Pipelines, and the Logistics of Philippine Copper
Traces the physical chain from mine to ship for each of the Philippines' three major copper projects. Covers Carmen Copper's Cebu exports, Silangan's on-site cathode production, Tampakan's 80-kilometer concentrate pipeline, and the freight economics that give Philippine copper a structural cost advantage over South American supply.
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Research Note 003
The Philippine Smelter Question
PASAR, the Villar Acquisition, and the Future of Philippine Copper Processing
A dedicated analysis of the Philippines' only copper smelter: its origins as a Marcos-era industrialization project, twenty-five years under Glencore, the February 2025 shutdown that displaced 3,000 workers, and the reported sale to the Villar family. Evaluates whether domestic ownership and vertical integration with the $2 billion King-king project can solve the feedstock problem that defined PASAR's entire history.
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