The Dizon Copper and Silver Mines Inc., (DCSMI) was incorporated in the Philippines on August 18, 1966 to acquire, purchase, lease and operate mines, mining claims in the Philippines or in foreign countries.
The fifty seven (57) mineral claims covering the mine, were originally staked in 1935 and were later assigned to DCSMI after its incorporation in 1967. A mining lease contract was later granted by the Department of Environment and Natural Resources (DENR) on February 1, 1980.
The Dizon open pit porphyry Copper, Gold and Silver mine is situated on the western flank of the southern Zambales mountain range in the municipalities of San Marcelino and Castillejos, Zambales. Up to the later part of 1960, the prices of copper along with other metals soared to certain levels inducing a mining boom worldwide and reviving the interest on low-grade and disseminated mineralization of porphyry copper deposits in the Philippines.
With the development in metal prices, the Nippon Mining Company of Japan conducted a systematic exploration in the area through grid-diamond drilling in 1968-1970, to delineate the potential and economic feasibility of the ore body.
On September 6, 1975, Dizon Copper and Silver Mines Inc. (DCSMI), signed an operating agreement with Benguet Consolidated Inc., to explore and develop its mining claims located at Barangay Buhawen, San Marcelino Zambales. Benguet Corp., Inc. started mine operations in 1980.
The Dizon Copper-Silver mine was explored, developed, and operated by Benguet Corporation until cessation of operations in July 31, 1997.
In seventeen (17) years of operations the mine has produced 110,000,000 tons of tailings. According to the in-depth field study of Medusa Mining Ltd of Australia, the DCSMI tailings contain 0.300 g/T Gold, 0.600 g/T Silver, 0.074 % Copper, and 4% Magnetite.
On January 11, 2012 the company partnered with Capital Gold Pty. Ltd., from New South Wales, Australia, and Capital Resources PLC, from the Isle of Man, by signing a Memorandum of Understanding (MOU). The MOU provides for the terms and conditions for the exclusive mining, processing and operational rights for the recovery of Gold and Copper from the mine Tailings Dam located at San Marcelino, Province of Zambales
Dizon Copper Silver Mines, Inc. has also signed a Memorandum of Agreement with Capital Gold Pty Ltd. and Welcome Stranger Mining Ltd. Under the agreement, Capital Gold will set up a new company in the Philippines for the purpose of acquiring, among other things, the Tailings Rights. Dizon will hold 50% of equity in the new company and Capital Gold the other 50%