MANILA, Philippines — Sagittarius Mines Inc. (SMI), the proponent of the multi-billion Tampakan copper-gold project in South Cotabato, is eyeing to operate the mine in 2026 as it transi-tions to development stage.
The Tampakan project is now ready to move onto the next stage of development to be able to start operating in two to three years, SMI president and CEO Roy Deveraturda told reporters in a roundtable discussion.
“We would like to have it (operate by) maybe 2026 for us to really say that under the technical definition [that] it’s really operating,” he said.
Under this phase, SMI will start building the facilities necessary for mining operations to commence.
When asked why it will take longer to complete the project, the SMI chief explained that the company is cautiously following the country’s mining laws.
“One of the most misunderstood industries is mining. It’s really a very complicated thing. We have to follow everything, and it requires big work and a lot of technical and expertise and financial muscle,” Deveraturda said.
So far, SMI has invested P32 billion in the Tampakan copper-gold project.
Of the total amount, P2 billion had already been allocated for corporate social responsibility (CSR) and Social Development and Management Program (SDMP) projects, SMI external affairs and communications manager Roy Antonio said.
The SDMP is the five-year plan of mining contractors and permit holders, which contains plans to support the development and empowerment of host and neighboring communities.
“It’s a substantial amount. Many of the expense, to prove we are serious about this, are commitments to social projects, aside from the technical. Meanwhile, a big portion of the investments will go to development and production,” Deveraturda said.
Last year, the Sangguniang Panlalawigan of South Cotabato approved the amendment of the Environment Code of South Cotabato, particularly on the lifting of the open-pit mining ban.
This move will allow SMI to develop the area and commercially extract minerals.
The provincial code hurdled the operations of the Tampakan project even after the national government lifted the ban on open pit mining in December 2021.
The Department of Environment and Natural Resources (DENR) said it would closely scrutinize the Tampakan copper-gold project on its environmental protection and rehabilitation obligations through the Mines and Geosciences Bureau (MGB).
Touted as the largest undeveloped copper and gold mine in Southeast Asia, the Tampakan project has the potential to yield an average of 375,000 tons of copper and 360,000 ounces of gold in concentrate per annum over the proposed 17-year life of the mine.