ASEAN KEY DESTINATIONS
Mining permits approved
Leo Jasareno, director of the Mines and Geosciences Bureau , approved the renewal of 10 exploration permit applications with expenditure commitments of P220.61 million for exploration and P206.34 million for environmental activities.
This comes after DENR Secretary Ramon Paje lifted a moratorium on the renewal of permits following the Mining Philippines 2011 Conference.
The exploration projects include EP-000006A-X of Cessmag Development Inc. in Misamis Oriental; EP-II-00003 of Coolabah Mining Corp. in Nueva Vizcaya; EP-0042006-CAR of Cordillera Exploration Co. Inc. in Abra; EP-IVA-011 of Egerton Gold Philippines Inc. in Batangas; and EP-V-2007-04 of Masbate 10 Philippines Inc. in Masbate.
Also included in the renewal were EP-02-2009-III of Mineral Treasures Mining Corp. in Zambales; EP-2009-000008-VIII of Pacific Metals Canada Philippines Inc. in Tacloban City and Leyte; EP-II-00006 of Red Earth Mining Corp. in Nueva Viscaya; EP-00001-08-XI of Sagittarius Mines Inc. in South Cotabato, Davao del Sur and Sultan Kudarat; and EP-2005-000005-VIII of UP Mines Inc. in Southern Leyte.
Earlier, the DENR imposed a moratorium in the processing and acceptance of new mining applications as part of government’s on-going program to get rid of pending and inactive mining projects.
The moratorium covers accepting and processing new applications for mining permits, including exploration permit, mineral production sharing agreement, and financial or technical assistance.
The DENR said it will sustain its “use it or lose it” policy in mining to cleanse its records of non-moving mining applications and non-performing mining contracts.
To date, DENR has cancelled some 1, 606 mining permits that allow the opening of about five million hectares of potential mineralized areas to serious investors.
Paje said the agency is awaiting President Benigno Aquino 3rd’s approval to tender the permits, providing the government optimum revenue from the mining tenements.
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