PERTH (miningweekly.com) – ASX- and TSX-listed RTG Mining has welcomed an announcement by the Philippines Department of Environment and Natural Resources (DENR) that the four-year ban on openpit copper, gold, silver and complex ore mining would be lifted.
RTG said in a statement this week that the lifting of the ban, according to the DENR order, was meant to revitalize the mining industry in the region, and provide "significant economic benefits" to the country, while also increasing employment opportunities in rural areas.
“We are pleased with the DENR’s continued efforts to encourage the mining industry. The Mabilo project developed in line with the DENR’s directives, has the capacity to stimulate economic growth in the local communities, the province in which the project is located and the Philippines more broadly,” RTG said in a statement.
The Mabilo project is expected to produce 18 000 t/y of copper, and 67 000 oz/y of gold, at a start-up cost of $17.4-million. The project is anticipated to have an initial eight-year mine life.