RE: Batong Buhay19 Jun 2026 03:23
As PMDC, a government owned and controlled corporation, holds the Exploration Permit, and, if development commences, will hold the Mineral Production Sharing Agreement ("MPSA") directly, the 60% Filipino ownership requirement under the Philippine Mining Act attaches to PMDC and is automatically satisfied.
- AIUI Bcoz of this, MTL Companies do not need to have JOA on 60/40 basis. If the permits were held by MTL Companies, then 60/40 is reqd.
So it looks like PMDC have overall control of the permits but MTL are the operator under the JOA/NSR agreements.