Bunawan Mining gets MGB permit to explore

MANILA, Philippines - The Mines and Geosciences Bureau (MGB) has granted exploration permits (EP) to Bunawan Mining Corporation and Kiamba Mining and Development Corporation to scout for viable gold and copper deposits in Agusan del Sur and South Cotabato, respectively.

Bunawan’s EP No. XIII-033 covers 677 hectares in Rosario, Agusan del Sur and would expire on Aug. 18, 2016.

Kiamba’s EP No. 014-2014-XII covers 7,047 hectares in Maitum, Kiamba, Sarangani and Maasim, Lake Sebu and T’boli, South Cotabato and would expire on Aug. 20, 2016.

The permits give the companies the right to explore the potential gold, copper and associated mineral deposits within the permit areas for a period of two years, renewable for a similar period but not exceeding six years.

Since resuming the issuance of exploration permits in 2013, the MGB has approved three permits including that of Goodearth Mining and Development Inc. in May 2014 for 1,968.0622 hectares in Dinapigue, Isabela for potential nickel, chromite and associate mineral deposits in the area.

The Department of Environment and Natural Resources (DENR) lifted in March 2013 the moratorium on the acceptance of applications for exploration permits (EP) and Financial or Technical Assistance Agreement (FTAA) after a two-year suspension.

In January 2011, the DENR suspended the acceptance of all mining permit applications and ordered the MGB to review pending and inactive mining projects nationwide.

In line with the lifting of the acceptance of exploration permit applications, the government also raised the application fees.

This was meant to retain serious investors and weed out speculators in the extractive industry.

It had been found out that there were speculators who hold on to their permits but do not develop their respective tenements.