Celsius obtains Social License to operate for the MCB Project
by Philippine Resources - November 15, 2022
Photo credit: Celsius Resources Limited
Celsius Resources Limited is pleased to announce that one of its Philippine subsidiaries, Makilala Mining Company, Inc. (“MMCI”) has obtained the consent of the Balatoc Indigenous Cultural Community (ICC) for the development of the Company’s MaalinaoCaigutan-Biyog (MCB) Copper-Gold Project (“MCB” or “the Project”).
After a series of consultations and negotiations, a Memorandum of Agreement (MOA) between MMCI, the Balatoc ICC, and the National Commission on Indigenous Peoples (NCIP) was officially signed on 14 November 2022. The MOA represents the collective decision of the Balatoc ICC for MMCI to carry out exploration, development, production, and operation activities at the MCB Project area. It also outlines the commitments and obligations of all parties to the agreement as well as the economic, social, environmental, and cultural benefits of the Project to the Balatoc ICC during the life of the mine.
Pasil Municipal Mayor Alfredo B. Malannag, Jr. was elated with the outcome and expressed: “This is a historical moment as it reflects the aspirations of the community for the future of the Balatoc Tribe. With MMCI at the forefront of development, our dreams of harnessing our natural resources without sacrificing our future and the environment will soon be realised. We have partnered with MMCI since their first exploration in the area in 2006 and the community has established a very good relationship with them.”
Kalinga Provincial Governor James S. Edduba shared the same sentiment: “This is a happy occasion, and I am excited with the many possibilities that will happen to this community with the signing of the MOA. Growing up in the place, I can personally attest to life with and without a mining company. I was the Mayor of Pasil when Makilala Mining started their exploration. We have gone a long way and MMCI has been instrumental in the development of the community. I believe that this partnership will help develop the community further as this is such a big investment in terms of business and employment opportunities, overall progress and other benefits.”
The Company considers obtaining the consent of the Balatoc ICC to be a crucial aspect for the development of the MCB Project, as it represents a social license to operate which is anchored on legitimacy, credibility, and trust.
MMCI President Atty. Julito R. Sarmiento expressed: “The signing of the agreement signifies the commitment of the Company to do right by the Balatoc ICC. We have always ensured that we abide and respect the customary laws and traditions of the community in all aspects of our engagements, to demonstrate our strict adherence to Environmental, Social and Governance (ESG) principles and best practices consistent with our firm commitment to Transformative Mining.”
Article courtesy of Celsius Resources
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Philippine Resources - May 24, 2022
Celsius Resources confirms multiple high-grade copper positions at MCB-037
Photo credit: Celsius Resources Celsius Resources is pleased to announce its Philippine subsidiary Makilala Mining Company, Inc. has received further positive assay results from the ongoing drilling program at its flagship MCB copper-gold project. The results have confirmed and expanded a number of high-grade intercepts which are an important part of the early mine plan at MCB as defined in the recently completed scoping study. The high-grade positions are interpreted to exist over near to horizontal trends which extend away from multiple mineralised faults and breccia bodies which are the main conduits for the fluids that are coming up from a genetically related Tonalite intrusion. The confirmed presence of multiple high-grade zones now appears to extend further than previously defined, and is a positive and important outcome from what has now been discovered in both drill holes MCB-036 and MCB-037. The Company will now modify the next set of drill holes to focus around the additional shallow high-grade copper-gold mineralisation as it will have a positive impact on potential future production options in the mine schedule. To read more, click here.
Philippine Resources - June 24, 2022
Celsius confirms copper near surface at Sagay Project
Photo credit: Celsius Resources Celsius Resources is pleased to announce it has received results from 3 drill holes confirming shallow extensions to the large-scale copper mineralisation previously discovered at its Sagay Project held under its Philippine subsidiary Tambuli Mining Company, Inc. “The copper mineralisation covers a huge area at Sagay at depth, and we are now proving this up at shallower levels. This round of drilling has confirmed that the mineralisation now extends up close to the surface, extending up from the earlier discoveries which has intersected copper mineralisation from around 100 meters to over 1,000 metres depth.” Celsius Executive Chairman, Martin Buckingham. The results identified extensive geological alteration and other features which are interpreted to be linked to the porphyry copper mineralisation at Sagay. Broad zones of low grade copper mineralisation were also intersected in all three drill holes, including 44.3m @ 0.27% copper from 139.2m in SGY-036, 112.2m @ 0.16% copper from 197m in hole SGY-038A and 247m @ 0.14% copper from 113m (to the end of the drill hole). “The discovery of key geological features and copper mineralisation near the surface is an important stepping stone, with further follow-up now required to define the higher grade core to this system also at shallow levels. This is extremely encouraging as it also allows us to consider lower cost bulk mining methods as part of our next phase of studies at the Nabagia-a Hill Project area.” Article courtesy of Celsius Resources. Full press release can be found HERE
Philippine Resources - February 24, 2022
PHILIPPINE GOVERNMENT GIVES CELSIUS RESOURCES’ MCB PROJECT PRIORITY STATUS
Figure 1: Location of the MCB Project in the Province of Kalinga, Northern Luzon, Philippines. Celsius Resources Limited (“Celsius” or “the Company”) is pleased to announce that its Philippine subsidiary, Makilala Mining Company, Inc. (“MMCI”) has received priority project status for the Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project (“MCB” or “the Project”) from the the Mines and Geosciences Bureau (MGB) Director Atty. Wilfredo G. Moncano in a meeting on 18 February 2022. MMCI’s management and technical staff presented the outcomes of the scoping study completed in December 2021i as part of the declaration of mine feasibility permitting process. The MGB Officials were pleased with the progress of the project and appreciative of the social and environmental factors integrated into the mine design. The use of paste backfill underground, along with dry stacking of the mine tailings replacing the need for a tailings dam, greatly mitigated the downstream agricultural communities’ concerns as they had witnessed adverse environmental impacts back when the adjacent Batong Buhay Mine was in operations. The MGB officials also commended MMCI Team for their determination to move the project forward despite the most challenging conditions brought about by the COVID-19 pandemic and expressed their support to see the project through to operations. At the conclusion of the presentation Dir. Moncano announced:, “This project has significant potential, we will endorse it as a priority project to fast-track government approvals.” Several activities are currently underway to support the application for the Declaration of Mine Project Feasibility and Mineral Production Sharing Agreement (MPSA) as the project proceeds through the various approval phases. MCB COPPER-GOLD PROJECT The MCB Copper-Gold Project (MCB) is located in the Cordillera Administrative Region in the Philippines, approximately 320 kilometers north of Manila (Figure 1). It is the flagship project within the Makilala portfolio which also contains other key prospects in the pipeline for permit renewal/extension. A maiden JORC compliant Mineral Resource Estimate was declared for the MCB Project in January 2021, comprising 314 million tonnes @ 0.48% copper and 0.15 g/t gold, for 1.5 million tonnes of contained copper and 1.47 million ounces of gold, of which 290.3 million tonnes @ 0.48% copper and 0.15 g/t gold is classified as Indicated and 23.5 million tonnes @ 0.48% copper and 0.10 g/t gold is classified as Inferred. A Scoping Study for the MCB Project was announced by CLA on 1 December 2021, which identified a post tax NPV8 of US$464M, IRR 33% and Capex of US$253M with a 25 year mine life. The scoping study was based on an underground sub level stoping operation of the high grade core of 49 million tonnes @0.85% copper and 0.41 g/t gold and processing facility to produce a saleable copper-gold concentrate. Article courtesy of Celsius Resources
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Philippine Resources - June 10, 2023
DMCI Mining Targets 1.5 Million WMT Nickel Ore Shipment in 2023
Photo Credit: dmcihouse.net DMCI Mining Corporation is targeting to ship 1.5 million wet metric tons (WMT) of nickel ore in 2023, after its subsidiary Zambales Diversified Metals Corporation (ZDMC) was granted an Environmental Compliance Certificate (ECC) in January to produce 2 million WMT of nickel ore. Prior to the ECC issuance, ZDMC was only allowed to extract 1 million WMT. “We have the necessary facilities and mitigating measures to minimize the impact of our operations on the environment. With these in place, we’re targeting to produce anywhere between 1.7 million to 2 million tons of nickel ore this year,” said DMCI Mining president Tulsi Das C. Reyes. From January to March, ZDMC nickel ore production soared by 88 percent from 318,000 WMT to 599,000 WMT, its highest-ever quarterly output. This led to a 16-percent improvement in total inventory, from 154,000 WMT to 178,000 WMT. However, total shipment declined by 21 percent from 620,000 WMT to 487,000 WMT owing to the depletion of the BNC mine and stockpile, cushioned by the double-digit growth of ZDMC shipment. Average selling price increased by 11 percent from USD44 to USD49 owing to higher Zambales shipments of higher-grade nickel ore. Despite the mine and stockpile depletion of Berong, DMCI Mining standalone revenues narrowly declined (-8%) from P1.4 billion to P1.3 billion due to better selling prices while reported net income contracted by 15 percent from P543 million to P463 million.
Philippine Resources - June 10, 2023
DMCI Power to build wind facility in Semirara Island
Leading off-grid electricity generator DMCI Power Corporation (DPC) is set to build a wind power plant in Semirara Island, home of the biggest coal reserve in the Philippines. DPC intends to finalize the wind power capacity in the coming months, with projections ranging from 8 to 12 MW, and operational implementation expected within 12 to 15 months. The project will be funded and undertaken independently by the company. “We are also looking at solar energy to augment the supply in the island, but we are prioritizing wind resource development because it has shown the most promise,” said DPC president Antonino E. Gatdula, Jr. “Current studies suggest that wind power could potentially deliver a 33% plant utilization rate, compared to just 17% for solar. Capital expenditure per megawatt for both wind and solar projects are also roughly the same,” he explained. In a 2001 wind resource study conducted by the National Renewable Energy Laboratory (NREL), a United States Department of Energy (DOE) laboratory, it was found that Semirara Island has some of the best wind resources in the Philippines. The wind corridors between Luzon and Panay (including Semirara Islands and extending to the Cuyo Islands) were found to have good-to-excellent wind power density and speed for utility-scale or village power applications. DPC is in the process of validating these wind resource estimates to determine the final location and capacity of its wind project.
Philippine Resources - June 05, 2023
Semirara Mining and Power Corporation eyes Japanese market expansion
Photo credit: Bilyonaryo Integrated energy company Semirara Mining and Power Corporation (SMPC) is set to make its second trial shipment to Japan this June, in a bid to reduce its dependency on the Chinese market. The company will export 50,000 metric tons (MT) of Semirara coal to Shikoku Electric Power Corporation for its 700-megawatt coal fired ultra-supercritical power station. “China is still our main foreign buyer but with their industrial output growing slower than expected, we want to develop other Asian markets like Japan,” said SMPC president and COO Maria Cristina C. Gotianun. From January to March, Semirara coal shipments to China plunged by 50 percent from 2.2 million MT to 1.1 million MT, accounting for 72 percent of exports. South Korea was a steady market at 300,000 MT, representing one-fifth of export sales. The rest of the exports went to Japan (5%) and Brunei (3%). SMPC first made a trial shipment to Japan in January 2023, selling 78,410 MT of mid-grade coal to J-Power, a utility company that operates coal, hydroelectric, wind and geothermal power stations. “For 2023, we are targeting to export around 30 percent of our full-year sales target of 15 to 16 million MT,” added Gotianun. In the first quarter, standalone coal revenues sank by 40 percent from P25.7 billion to P15.5 billion mainly due to high base effect of record production, shipments and selling prices. Standalone reported net income slumped by 51 percent from P14.2 billion to P7 billion on topline weakness and slower decline in cash costs.
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