The Philippine Mining Development Corp. (PMDC) and government agencies, local governments, and community stakeholders have signed a memorandum of agreement establishing the Contingent Liability and Rehabilitation Fund (CLRF) for the proposed Dinagat Nickel Ore and Associated Minerals Mining Project in the Province of Dinagat Islands.
The ceremonial signing was held on July 7 in Surigao City and covers the 2,700-hectare mining project in the municipality of Cagdianao.
The CLRF serves as a financial assurance mechanism to ensure that sufficient funds are set aside for environmental protection and mine rehabilitation throughout the life of the project.
Under the agreement, the fund will be used to support measures for preventing and mitigating environmental impacts, rehabilitating mining-affected areas, and providing compensation for damages in accordance with existing laws and regulations.
PMDC said the agreement reflects the commitment of participating agencies and stakeholders to responsible mining practices, environmental stewardship, and the protection of host communities.
Signatories to the memorandum include the Mines and Geosciences Bureau Regional Office XIII, the Department of Environment and Natural Resources Caraga Regional Office, the Environmental Management Bureau Caraga Regional Office, the Provincial Government of Dinagat Islands, the Municipal Government of Cagdianao, the Rural Enterprise Assistance Center Foundation Inc., the Roman Catholic Diocese of Surigao, and PMDC together with Napnapan Mineral Resources Inc. and EV Mining and Development Corp.
The Dinagat Nickel Ore and Associated Minerals Mining Project is one of PMDC's key mining developments and is intended to support the responsible exploration and development of the country's mineral resources while ensuring compliance with environmental regulations and rehabilitation requirements.
The CLRF is mandated under Philippine mining regulations as a safeguard to ensure that mining operators remain financially capable of addressing environmental impacts and restoring affected areas during and after mining operations.
