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PIA Press Release

DENR issues new mine permits in Southern Leyte

Tacloban City (December 14) -- The Department of Environment and Natural Resources (DENR) has approved the mining permit to explore 4,192 hectares in three municipalities of Southern Leyte for possible copper and gold resources.

The approval of the mining permit application of Buena Suerte Mining Corporation, an affiliate of Australian Oxiana Ltd., gave it the authority to explore 4,192 hectares if Liloan, San Francisco and San Ricardo in the Panaon Island of Southern Leyte.

The issuance of the mining permit of Buena Suerte Mining Corporation which was scheduled to take place on December 11 together with two other mining exploration permits, increased to eight, the number of permits DENR has granted this year.

The other mining companies expected to receive their mining exploration permits are Colossal Mining Corporation and 99ers Inc.

During the formal presentations before DENR Secretary Angelo T. Reyes, the companies are expected to present their environment programs and social preparations for the community. These are in addition to their disclosing their technical and financial resources before they could be granted mining permits.

Reliable sources stated that other exploration permit applications are still pending before the DENR.

An Exploration Permit (EP) is an initial mode of entry in mineral exploration allowing a Qualified Person to undertake exploration activities for mineral resources in certain areas open to mining in the country.

The approval of EP applications is subject to qualifications and requirements set by the Philippine Mining Act of 1995 and other existing mineral policies of the Philippines.

It would be remembered that in October, the Department of Environment and Natural Resources issued exploration permit to MRL Gold Philippines, Inc. and its affiliate Egerton Gold Philippines, Inc.

The government has initiated several reforms to revitalize the Philippine Minerals Industry in compliance with President Gloria Macapagal Arroyo's declaration of a policy-shift from tolerance to promotion of mining in January 2003. (PIA 8) [top]

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