Manila Mining operations in Surigao on track

Manila Mining Corporation's mining commitments in Surigao del Norte province in Mindanao are ongoing as planned, according to the disclosure filed by the company at the Philippine Stock Exchange.

Manila Mining assistant corporate secretary Odette A. Javier told regulators that the Mines and Geosciences Bureau (MGB) has certified the company's mining claims.

An attached certification from the CARAGA (Region XIII) unit of the MGB states that Manila Mining has five properties in Surigao del Norte province.

Three are covered by mining lease contracts, one with a mineral production sharing agreement or MPSA, and one with an exploration permit.

"The aforesaid mining properties are being explored and developed according to its approved work programs," MGB regional director Alilo C. Ensomo said.

Mining lease contracts cover gold properties in three locations in the municipality of Placer in Surigao del Sur. An MPSA covers a separate 211-hectare area, also in Placer. There is also an exploration permit for a new property straddling the municipalities of Mainit, Placer and Sison, all in Surigao del Norte.

Manila Mining started its mining operations in Placer in 1981 and used to produce gold bullion copper concentrates containing gold, silver and copper.

Last year, the company announced plans to take advantage of increasing commodity prices by reprocessing tailings at Placer to recover gold.

MMC chairperson and CEO Felipe Yap told reporters earlier that the company had been looking at processing 10,000 tons a day for a period of three and a half years. Inquirer.net

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