RE: BAG meeting4 Mar 2022 15:16
Thanks Pricey
Did CB provide any insight onto further details on the licence renewal?
Aware that there must be a huge log jam of applications flooding in with the exceptionally positive mining administration policy changes made two weeks ago.
Extract from recent news article..
"WITH the recent policy moves by the Duterte administration, the mining industry’s big players said the Philippines is back on the radar of foreign mining investors.
Chamber of Mines of the Philippines chairman Michael T. Toledo said for one, Australian investors welcomed the recent decisions of the Philippine government to ease mining policies, raising the possibility of a renewed influx of foreign capital in the sector.
In separate statements, The Philippines-Australia Business Council (PABC) and Australia Philippines Business Council (APBC) said recently that the consecutive decisions of the Department of Environment and Natural Resources (DENR) to lift the 4-year-old ban on open pit mining for the extraction of copper, gold, silver, and complex ores, and the removal of the moratorium on new mineral agreements between the government and private contractors, are clear signals that the Philippine mining sector is again open for business for local and foreign direct investment.
“This is good news for the mining sector which hasn’t seen any major investments since 2016 due to tighter government regulation. Renewed investor interest in mining could lead to fresh capital inflows that could unleash the industry’s huge potential,” Toledo said.
Since the government tightened mining rules, only Philex has decided to go ahead with its investment plan to develop, beginning this year, a starter mine that would cost $224 million. The Silangan copper-gold prospect in Surigao del Norte is expected to produce gold and copper in early 2025
Let's hope Mankayan is moving up the work pile to get signed off.
GLA