Sagittarius Mines gets business permit

MANILA, Philippines — Sagittarius Mines Inc. (SMI) is eyeing to start construction works in its multi-billion Tampakan copper-gold project in South Cotabato towards the end of the year as it secured its business permit after hurdling a tax dispute with the municipal government of Tampakan.

In a statement yesterday, SMI said its business permit was finally issued after it paid P24,579 in regulatory and other fees.

With all approvals and permits secured, SMI said it is ready to start construction in the fourth quarter of the year, with production of its first copper concentrate in 2026 as scheduled.

The company, however, noted that the issuance of the business permit is not a precondition to the start of its operations.

Under the construction phase, SMI earlier said it would start building the facilities necessary for mining operations to commence.

The local government units (LGU) previously alleged that SMI had P400 million in deficient taxes, to which the Court of Tax Appeals (CTA) granted a preliminary injunction in favor of the mining company.

SMI legal and compliance manager Stella Joy Segocio welcomed this development and highlighted the CTA’s initial findings that SMI did not employ “fraud and misrepresentation” when it applied for a business permit as a manufacturer.

“SMI will always comply with the law and will continue to do the right thing in all of its activities,” she said.

At the same time, the Sangguniang Panlalawigan (Provincial Board) of South Cotabato has also declared as “ultra vires and onerous” the numerous provisions of Tampakan’s Revised Municipal Revenue Code of 2022 that would have imposed new or increased business taxes on companies operating in Tampakan.

The provincial board likewise cautioned the LGU “to stop the enforcement of the provisions of the ordinance declared invalid...”

The Marcos administration has identified mining as a strategic investment and a “key driver in our recovery and long-term growth.”

“It is in this light that SMI has progressed the Tampakan project to a point where it is ready to start construction and to operate,” the mining firm said.

SMI also invests in the development of its stakeholders and host communities, in addition to honoring and respecting the rights of the Blaan Indigenous Peoples in the area.

This year, it has provided more than P24 million in social investment projects such as high school and college scholarships, establishment of health centers and health programs, provision of water sources, emergency response, and livelihood assistance.