SC affirms MacroAsia’s rights to 1,114-ha Palawan mine

The Supreme Court has denied with finality the motions for recon-sideration filed by Blue Ridge Mineral Corp. and Celestial Nickel Mining Corp. with respect to claims over a 1,114-hectare property being explored by MacroAsia Corp. in Brookes’ Point, Palawan.

In a disclosure to the Philippine Stock Exchange, MacroAsia said the Supreme Court ruling issued the ruling on March 5.

In December 2007, MacroAsia’s mining rights in Palawan had been affirmed as valid and active by the Supreme Court after being contested by Blue Ridge and Celestial on allegations that the Tan-owned company failed to fulfill its obligations as stipulated in the contracts given to them in 2005 by the Department of Environment and Natural Resources.

MacroAsia has  seven mining lease contracts with the DENR.

The Supreme Court agreed with the Court of Appeals’ ruling that the Department of Environment and Natural Resources has the exclusive authority to approve, cancel and revoke mineral agreements.

MacroAsia is eyeing to make direct shipments of nickel from its mineral site in Palawan by the end of the year.  It plans to export to Australia, China and Japan.

The company earlier sought an exploration permit with the Mines Geosciences Bureau to start a gold and copper mining exploration project in a 5,820-hectare prospect in Palim-bango, Sultan Kudarat and a 6,156-hectare prospect in Glan, Sarangani province.

These two areas  are located within the rich gold and copper districts in Mindanao.

MacroAsia also has investments in aviation related services like aircraft maintenance and repair.