Rapu-Rapu maintains ISO environmental ratings

MANILA, Philippines - Project Director Scott Kim of LG International Corp. announced recently that the Rapu-Rapu Polymetallic Project (RRPP) has successfully passed the Surveillance Audits for its ISO 14001 certifications for environmental managements systems (EMS) since it earned these for its mining and mineral processing operations in August 2008 and February 2008, respectively. The semi-annual audits are required to maintain ISO certifications. The latest audit was conducted by independent external auditor CIPI at the end of January 2008.

The ISO 14001 certifications signify that the environmental management systems of Rapu-Rapu adhere to globally recognized standards, Kim said, and that the project is environmentally compliant. He added that substantial measures to strengthen environmental protection continue to be put in place with the resumption of operations last October. The new project investors are Philco Resources Ltd. (a joint venture of LG International Corp. and Korea Resources Corp.), and the Malaysian Smelting Corp.

“It is integral to our success to take continuous steps to enhance protection of the environment and the local residents of Rapu-Rapu,” Kim said. The island is a two-and-a-half boat trip from Legaspi City, Albay.

Since July, 2008 the new RRPP shareholders have deposited P35 million into an escrow fund for its Final Mine Rehabilitation and Decommissioning Plan (FMRDP). The fund will cover the rehabilitation and decommissioning of the mine when extraction operations end. “RRPP was not required to start the trust fund until the FMRDP has been approved, but in good faith, we have begun making these deposits,” Kim said. The advances are the first ever to be made by any local mining project before approval of its FMRDP.