Photo: Engr. Valeroso receives the Safety Seal Certificate from DOLE Caraga RD Suyao Taganito Mining Corp. (TMC), subsidiary of Nickel Asia Corp. (NAC), has been awarded the government's safety seal certification, the first company to be bestowed the recognition in the province. The certification came after a validation and technical inspection by the team from the Department of Labor and Employment (DOLE) regional and provincial offices on September 2-3, 2021. Led by DOLE-Caraga Director Atty. Joffrey Suyao, the team determined that TMC has complied with the minimum public health standards related to the coronavirus (COVID-19) pandemic. "I want to emphasize the importance of observing our safety and health protocols among our companies, because as long as we operate, the health of our employees depends on it," Atty. Suyao said in the dialect. "If the workers are not healthy, the productivity would surely be affected." According to Suyao, the safety seal certification is a tripartite effort on the part of the workers, the management, and the government "that must all work together for us to achieve a safe and healthy working environment." Suyao said he was impressed upon entering TMC's premises, which involved a series of stringent health protocols for visitors. "We had to go through the safety protocols here, observe proper hand washing, temperature checking, checklist, etcetera. I was really impressed because these are the very things that our government requires," the DOLE-Caraga chief said. Meanwhile, TMC Resident Mine Manager Artemio Valeroso said the certification was "a testament of what we are doing in this establishment. There is a secret why TMC has been operating for a long time: TMC is always taking care of the people, of the community, and of course our employees." "Maintaining a good harmonious relationship with our stakeholders is important to us. Thank you to all of you for supporting TMC, sa ating mga contractors, managers, mining service providers, labor union, and all employees. Kung wala kayo, hindi din magiging ganito si Taganito Mining. We are all partners and we will do it as a team," Engr. Valeroso added. Valeroso vowed that with TMC being granted with the safety seal, "we have to sustain this and continue improving our programs and measures to ensure the safety and well-being of our employees and we all stay safe, healthy and always bida." The Safety Seal Certification is a voluntary certification scheme that affirms that an establishment is compliant with the minimum public health standards set by the government and uses or integrates its contact tracing with StaySafe.ph (or the SDN contact tracing app). The DOLE issues the Safety Seal for the manufacturing, construction sites, utilities (electric, water, gas, air conditioning supply, sewerage, waste management) information and communication companies (private publication, news, movie production, TV and radio companies), and warehouses. TMC applied for the safety certification as part of the company's commitment to comply beyond the regulatory standards mandated by the government. Among the measures employed by the company include mandatory wearing of face mask and shield, routine temperature checking, installation of foot baths, setup of handwashing facilities and alcohol stations, observance of social distancing and other minimum health protocols.

Metallic mineral production value sustained growth at 22.34% from PhP99.03 billion in January to September 2020 to PhP121.16 billion in January to September 2021, a difference of PhP22.12 billion. The strong metal price coupled with the better mine production of nickel ore during the review period was the vital factor for this development. Prices of leading metals gold, silver, copper, and nickel remained bullish, year-on-year. Precious metals gold and silver reported an average price of US$1,801.97 per troy ounce and US$25.77 per troy ounce from US$1,735.39 per troy ounce and US$19.21 per troy ounce, year-on-year, up by almost US$67 and US$7, respectively. In addition, the nine-month averages for copper and nickel stood tall at US$9,187.81 per metric ton and US$18,035.15 per metric ton, respectively. Copper price went up by 57% from US$5,837.89 per metric ton, while nickel enjoyed a 38% increase from US$13, 059.28 per metric ton. In terms of percentage contribution to the country’s total production value, nickel with the aid of the other nickel by-products, mixed nickel-cobalt sulfide (MNCS) and scandium oxalate (ScOx) continued to outperform the others accounting for more than 58% or PhP70.83 billion. Lagging behind was gold with 31% or PhP37.75 billion, on its tail was copper with almost 10% or PhP11.74 billion. Finally, silver, chromite, and iron ore rounded up less than 1% or PhP0.84 billion. Over the recent years, with the advent of the production of nickel products (MNCS and ScOx) from the operations of Hydrometallurgical Processing Plants Coral Bay Nickel Corporation and Taganito HPAL Corporation, the gap in the contribution between gold and nickel ore with nickel products continued to widen. It was in 2018 when nickel ore & nickel by-products first exceeded gold as the prime contributor in overall, metallic production value. In terms of distribution of Regional production value, Caraga Region had the lion's share with 46.62%, followed by MIMAROPA with 13.79%, and in third was Bicol Region with 12.89%. In terms of the number of operating metallic mines in the Regions. Caraga headed the pack, with two gold mines, one chromite mine, 18 nickel mines, one hydrometallurgical processing plant, and one gold processing plant. Table 1. Distribution of Metallic Production-Value by Region By Pesos & Percentage January-September 2021 Nickel direct shipping ore together with its by-products MNCS and scandium oxalate remained true to form, as it displayed dominance over other metals. Production value went up from PhP50.72 billion to PhP70.83 billion, an almost 40% or PhP20.11 billion increase. Production volume and value of nickel direct shipping ore recorded 29% and 67%, respectively from 253,204 metric tons with an estimated value of PhP27.66 billion to 325,848 metric tons with an estimated value of PhP46.05 billion year-on-year. Breaking it down further, in terms of mine regional production Caraga Region the nickel capital hub of the Philippines accounted for 76% with 248,001 metric tons, followed by MIMAROPA with 17% or 54,936 metric tons while Regions III and VIII accounted for 6% or 18,939 metric tons and 1% or 3,971 metric tons, respectively. Emir Mineral Resources Corporation located at Guiuan, Eastern Samar is the latest addition to the roster of producing nickel mines in the country. Moreover, the production volume and value of ScOx, a by-product in the operation of Taganito THPAL recorded a production volume and value of 12,504 dry-kilograms with an estimated value of PhP0.32 billion, a 23% and 18% growth from its previous 10,199 dry-kilograms with an estimated value of PhP0.27 billion, year-on-year. On the other hand, MNCS performance was diverse as production volume declined by 13% from 39,708 metric tons to 34,678 metric tons, year-on-year. Production value, however, rose by 7% from PhP22.80 billion to PhP24.46 billion. Performance of the yellow metal remained consistent with production volume and value demonstrating positive movement from 12,973 kilograms with an estimated value of PhP36.40 billion to 13,356 kilograms with an estimated value of PhP37.75 billion, up by 384 kilograms and PhP1.35 billion, respectively. In terms of mine output, Bicol Region held the rein with 40.89% or 5,462 kilograms of the country’s gold production. Philippine Gold Processing and Refining Corporation and Joshon Mining Corporation are the current gold mines in the region. Cordillera Administrative Region was in far second accounting for 15.10% or 2,017 kilograms. Said region has three gold mines, Lepanto Consolidated Mining Corporation, Benguet Corporation –Acupan Contract Mining Project, ItogonSuyoc Mines, Inc., and 10 approved Minahang Bayan. Out of the 10 MB only Loacan Itogon Pocket Miners Association reported production. CAR was closely followed by Caraga with 14.91% or 1,991 kilograms. Said Region has two gold mines, Philsaga Mining Corporation (PMC) and Greenstone Resources Corporation (GRC). Only PMC recorded production, GRC is still under Care & Maintenance status. Other regions with gold mines include II, XI, VII, and XII. Overall silver production volume, dip by 5% from 17,853 kilograms to 16,875 kilograms year-on-year. While production value grew by 24% from PhP0.54 billion to PhP0.68 billion. The substantial PhP0.13 billion rise in value despite the 978 kilograms shortfall in volume was due to the upbeat silver price from US$19.21 per troy ounce to US$25.77 per troy ounce year-on-year, up by US$6.55. For copper production, we saw copper volume slip by 18% from 46,520 metric tons to 38,025 metric tons, down by 8,945 metric tons both Philex Mining Corporation and Carmen Copper Corporation incurred deficit. The production value on the other hand enjoyed a 7% increase from PhP10.95 billion to PhP11.74 billion, year-on-year, up by PhP0.79 billion. The bullish metal price during the period made this possible. Another optimistic development is the renewal of the Financial or Technical Assistance Agreement of OceanaGold (Phils) Inc. last July 2021, its re-entry to the production stream will naturally boost not only copper but also gold and silver output. Noteworthy, in August 2021 OGPI reported a total sales for gold and silver amounting to PhP105.86 million bound to Australia. The ore sold came from their inventory. On the iron ore production, only Leyte Ironsand Project of MacArthur Iron Projects Corp/Strongbuilt Mining & Development Corp. reported production with 28,474 dry metric tons with an estimated value of PhP77.99 million. Same period last year Atro Mining Vitali Iron Inc. was the sole producer. On chromite production, volume and value went down by 59% and 63% from 26,265 dry metric tons with an estimated value of PhP234.34 million to 10,816 dry metric tons with an estimated value of PhP86.64 million year-on-year. Only Techiron Resources Inc. reported production. For each commodity, the frontrunners in terms of mine production were: On the local front, the passage of critical and long overdue policies has created an optimistic buzz in the minerals sector. Such policies include: DAO 2021-12 (Guidelines for the Automatic Renewal of the Exploration Period and the Timely Filing of Declaration of Mining Project Feasibility Under the Exploration Permit, MPSA, FTAA, and Similar Mining Tenements); EO 130 (Amending Section 4 of Executive No. 79, S. 2012, Institutionalizing and Implementing Reforms in the Philippine Mining Sector, Providing Policies and Guidelines to Ensure Environmental Protection and Responsible Mining in the Utilization of Mineral Resources); DAO 2021-25 (Implementing Rules and Regulations of Executive Order No. 130, Amending Section 4 of EO No. 79, S. 2012). Major features of the DAO include: (1) Lifting of the moratorium in the acceptance of applications for Mineral Agreement pursuant to DAO No. 2010-21; (2) Approved DMPF under the EP may now mature into Mineral Agreement subject to compliance with certain requirements; and (3) Paved way for the review of the pro-forma MPSA and renegotiation of existing ones.; and DAO 2021-29 (Extended Application Period for the Disposition of Residual Stockpiles) the application period for the disposition of residual stockpiles sourced from small-scale mining operation previously covered by valid mining permits is extended until 31 December 2022.   It is important to highlight that out of the total land area of the Philippines of 30 million hectares, the total area covered by mining tenements as of 31 October 2021 is only 745,685.48 hectares or 2.48%. This only pertains to the permits issued by the national government and does not include the permits issued by the local government. Moreover, with the EO 130, the government can now approve Mineral Agreements. To date, there are 313 approved Mineral Production Sharing Agreements with a total land area of about 576,482.65 hectares. It should be emphasized that said area is still subject to the mandatory relinquishment by contractors as provided by law. In addition, the MGB is working diligently on the formalization and declaration of the new Minahang Bayan. At this time, 43 MB was already been declared all over the country with 170 pending applications. Among the declared Minahang Bayan, there are 13 under the Luzon area, 3 in Visayas, and 27 in Mindanao. For metallic minerals, commodities will be limited only to gold, silver, and chromite and shall have a term of two years, renewable for like periods but not to exceed a total term of six years. With MB very much in the scene, we are optimistic that gold, silver, and chromite production will rise. Table 2. Philippines Metallic Mineral Production January-September 2021 vs January-September 2020   Article courtesy of the Mines and Geosciences Bureau

Photo credit: Hinatuan Mining A grand slam win for a mining company simply means being the best in class in its responsible conduct of business; in its forest management and environment enhancement and protection; its social responsibility programs and in providing safety in the workplace and the communities. Hinatuan Mining Corp. (HMC), a subsidiary of Nickel Asia Corp. (NAC) sweeps major honors this year from the country’s most prestigious award-giving body in the mining industry – the Presidential Mineral Industry Environmental Award (PMIEA). “It’s our first time and it’s a grand slam! We still can’t believe it but that these awards were accorded to us during this most difficult time of the pandemic, makes this moment doubly exulting, everyone was emotional when the news first broke, this is the reason for our existence, says Engr. Francis Arañes, HMC’s Resident Mine Manager. HMC, with operations in Hinatuan Island, Tagana-an, Surigao del Norte, takes home the Presidential award for surface mining operations; the Best Mining Forest in the Metallic category; the winner of the Safest Surface Mining Operations; and the winner of the Safest Mining Operation; plus, the individual awards of Best Surface Safety Inspector and Best Surface Miner accorded to HMC’s employees, Aldrin L. Resullar and Jennifer Q. Inting, respectively. The PMIEA is the highest accolade awarded to a mining company.  The evaluation and assessment for this year’s awardees encountered extra challenges with the threats of COVID-19 in the backdrop where movements were limited, the economy threatened, operations delayed, and bringing services to the communities were among the biggest challenge to the company’s community workers. HMC had set its eyes on these awards for years. The company remains steadfast, focusing on specific goals that the award giving body monitors and measures, such as the actual number of hectares to be rehabilitated as mandated by the Mines and Geosciences Bureau (MGB), even going outside of their areas of responsibility in supporting the Philippine National Greening Program (NGP); building a robust forest within the mine site, highlighting eco-tourism programs; setting up its host and neighboring communities to sustainable economic development programs; among other things.  And to ensure that compliance is above and beyond its mandate, HMC underscores the efficiency of reporting, of transparency, giving importance to its Information, Education and Communication (IEC) programs. “The bar in honoring mining companies has been set even higher, what with the added focus on the principles of ESG – Environment, Social and Governance – in the midst of ongoing debates about climate change,” says Engr. Aloysius C. Diaz, NAC SVP and Head of Production. Diaz says the miners, HMC in particular, are now even more cognizant of peer reviews because the world has become more critical in holding the industry accountable for a greener, healthier, and safer future. PMIEA evaluates all facets of a mining company’s responsible and sustainable business practices, keenly focusing on environmental protection and management; and ensuring the health and safety of employees and the total wellbeing of the people in the communities that they serve. The Hinatuan mine site, also known as the “Tagana-an Nickel Project”, is located in Hinatuan Island, Barangay Talavera, municipality of Tagana-an, province of Surigao del Norte. Its area of operations is within the Surigao Mineral Reservation.

Photograph courtesy of Aboitiz Construction The Cebu-based construction firm Aboitiz Construction on Thursday said it has finished the construction work on the British firm’s CD Processing (CDP) Ltd. copper ore sorting and processing plant in Carmen Copper Corporation’s operations center in Toledo City. To manage mining wastes, the plant is seen to boost an environmentally-inclusive economy, with an aim to generate more jobs for the local residents. “In line with our commitment to building a better future, we will continue to help other businesses to thrive and contribute to responsible operations which will lead to the provision of job opportunities and contribution to the economy’s growth,” said Alex Garciano, Aboitiz Construction vice president for construction operations, in a statement. The new facility will help manage mining wastes efficiently through the reclamation of valuable copper-bearing ores from low-grade materials discarded by copper mines, thus, decreasing wastes. The company said the project has provided employment opportunities to about 200 individuals, nearly 80 percent of whom were locally hired. The CDP plant is a state-of-the-art ore sorting plant that uses the latest magnetic resonance analyzer technology, which will contribute to a safer, more sustainable, and cutting-edge working environment and operations. The British firm has invested PHP583 million in its ore sortation facility in Cebu, a pioneer project approved by the Board of Investment (BOI). By Carlo Lorenciana   Article courtesy of the Philippine News Agency

The strategic plan to develop Bamboo has been in the portfolio of the Department of Trade and Industry (DTI) many years back. As a chief raw material source for the flourishing Philippine handicraft industry, the demand for Bamboo increased further over the years because of its emerging uses in construction, agriculture, and fisheries. Bamboo development was mentioned in several Physical Framework Plans that the National Economic and Development Authority (NEDA) mandated Local Government Units (LGUs) to prepare. At the national level, the most comprehensive among these plans is the Philippine Bamboo Industry Development Roadmap (PBIDR) crafted by the Board of Investments in 2016. The PBIDR has called Bamboo as the ideal renewable resource that can thrive easily. If managed well, it could provide sustainable raw materials for myriad uses -- house and kitchen utensils, farm implements, furniture and handicrafts, house décor, raw material for construction, banana props, fish pens, banca outriggers, and fuel in the form of charcoal and charcoal briquettes. Bamboo also emerged as the source of pulp and paper, textiles and clothing, and renewable energy resource in the form of chips and pellets. Lately, beer and energy drinks have also been manufactured from Bamboo. In an article published by the Philippine News Agency in 2018, DTI Secretary Ramon Lopez said he will work closely with DENR Secretary Roy Cimatu to “work out a sustainable mining development plan through planting Bamboos for rehabilitation.” Bamboo in Didipio mine’s FMRDP The PRJ interviewed the environment manager of OceanaGold’s Didipio mine operations, Engr. Jason Magdaong, to inquire how the company considered Bamboo in their Final Mine Rehabilitation and Decommissioning Plan (FMRDP). He confirmed the extensive use of Bamboo in their mine rehabilitation and reforestation efforts. The FMRDP is the blueprint of how the mine would become after decommissioning. It is a requirement for operating mines mandated by Republic Act 7942, otherwise known as the 1995 Mining Act. “We’ve considered Bamboo as a rehabilitation and plantation species because it fits well our mine. It is fast growing. Also, it has a very good performance in soil erosion control, and works best in rehabilitating disturbed slopes and riverbanks,” Magdaong explained. Bamboo also has strong carbon absorption capacity and good properties in absorbing heavy metals in normal conditions, that is why generally recommended for most mines, although Didipio does not have pressing concerns on these aspects. Magdaong said that their Didipio nursery has started producing Bamboo propagules two years ago in response to DENR’s call to support the development roadmap. Bamboo has been planted in Didipio’s waste rock dumps which are already topped with soil. “The performance of Bamboo as a rehabilitation species is generally good,” Magdaong affirmed. Initially, OceanaGold used the kawayang tinik (Bambusa blomeana) and bayog (Bambusa merrilliana) which are locally abundant around the Didipio mine site. “When we heard of the giant Bamboo, we thought of using it because of the promising livelihood opportunities it can offer,” Magdaong added. The giant Bamboo (Dendrocalamus asper) has thicker flesh and grows taller than local species like the kawayang tinik, bulo (Gigantochloa levis), buho (Schizostachyum lumampao), and bayog (Bambusa merrilliana). The giant Bamboo is preferred by manufacturers of engineered Bamboo (such as floor tiles, boards, and blocks) because of its superior properties. Magdaong believes that leaving behind a Bamboo Forest along rehabilitated areas and targeted reforestation sites elsewhere could create a flourishing industry for Didipio folks. “The power lines that would be left behind after the mine closes are already three-phase configured, just the kind of electrical power connection needed in establishing industries,” Magdaong explained. Bamboo offers a two-pronged solution according to Magdaong: it mitigates environmental impacts, and at the same time, it offers a supply of resources for a budding industry that would address the social and economic displacement of workers and local folks affected by the eventual mine closure. “Our strong adherence to regulatory requirements and consistent advance towards achieving our goals … allow us the opportunity to nurture the value of our skills, our safety, and our responsibility for the environment, and for the communities to which we belong,” OceanaGold (Philippines) President, Atty. Joan D. Adaci-Cattiling said. As the Didipio FTAA contractor, OceanaGold (Philippines) has committed beyond adherence to responsible mining principles in achieving its goals, do more for Didipio for it is the community that they belong to. Bamboo and Environmental Remediation There is an established claim that Bamboo can produce more oxygen and absorb more carbon dioxide than trees. This makes it perfect for restoring disturbed ecosystems and for remediation of greenhouse gas emission. Because of this, Bamboo is also widely used in urban forestry and landscaping. The Wildlife and Countryside Act 1981 did not identify Bamboo as an invasive species. There are currently no restrictions on planting it. In fact, the Ecosystems Research and Development Bureau of the DENR has been producing Bamboo planting materials for the National Greening Program several years back. Thick Bamboo clumps provide excellent shelter for wildlife. Monitor lizards, locally known as bayawak, are frequently seen along dense clusters of Bamboo by folks gathering young shoots or labong, a local delicacy. The deep roots of Bamboo usually form spacious crevices that are ideal shelter of many species of reptiles and amphibians. Small birds are also found to nest in the thorny branches of Bamboo culms. “We are also planting other species alongside Bamboo to create a condition for a restored biodiversity. Bamboo is compatible with other species, and one thing good is it blends well with all other species we are planting,” Magdaong explained. Economic Potentials of Bamboo The PBIDR cited that Bamboo products exported increased significantly from 2010 to 2014, growing from US$2,053,838 to US$10,791,526 annually. The roadmap also estimated the demand for Bamboo culms by current industries and sub-sectors would amount to 21,250,874 culms annually. If pulp and paper production and Bamboo chips for fuel would attract more investments, the total demand could climb up to 107,058,770 culms per year. (Source: Export Marketing Bureau, DTI) The PIBR also recognized Bamboo as a US$11.21 billion industry worldwide as of 2009. In 2015, China has been the top exporter of Bamboo products valued at US$1.398 billion and the Philippines was ranked 5th worldwide with exports valued at US$54 million, according to the International Bamboo and Rattan Organization. Stakeholders in the Bamboo industry involve Bamboo clump/plantation owners, gatherers, traders, sawali and basket weavers, and furniture and handicraft producers. They own or work in small, unregistered shops, thus, considered as part of the informal sectors. Sources from the furniture industry estimated around 190,000 or 10% of the total workers in the furniture and handicraft sectors work in Bamboo-related handicraft. Pangasinan, particularly in the towns of San Carlos, Binmaley and Urbiztondo, is the country’s Bamboocraft centre. But since Bamboo is found all throughout the country, bamboocraft-making are also be found in all the provinces. As Bamboo gained the spotlight in the rehabilitation of the Cagayan River, the inter-agency Task Force Build Back Better has laid up a complete plan beyond using the species for riverbank stabilization. They mobilized the Technical Education Skills and Development Authority (TESDA) to train laborers from local communities on seedling propagation and Bamboocraft. Paid by the Department of Labour and Employment (DOLE) under the Tupad Program, locals were mobilized to plant Bamboo in the riverbanks The move has set in motion a strategic Bamboo supply development in the region. Opportunities and Challenges The popularity of Bamboo could be seen in online markets, where varied products such as blinds, steamers, sticks, fence, sala sets, tumblers, mugs, pens, etc. are offered for sale. Giant Bamboo cuttings are also sold online by Bamboo nurseries at P58.50 a piece, excluding delivery cost. The PBIDR has identified key production areas in Batangas (Euro Integrated Farms & Supply, Inc.), Pangasinan (CS First Green Agri-Industrial Development, Inc), Negros Oriental (Philippine Bamboo Foundation, Inc.), and Antipolo City (Carolina Bamboo Farm). These serve as primary sources of planting materials needed to produce enough supply of Bamboo culms in the country. The production of toothpicks and barbeque sticks alone has gone a long way in the Bamboo industry. A small enterprise in Iloilo has grown over the years and now producing large volume of quality toothpicks and barbeque sticks using mechanized equipment. However, as revealed in the PBIDR document, Chinese exports are much cheaper than locally produced Bamboo products. Processing machines are imported because there are no local fabricators yet. There is also a need to set the specifications for Bamboo construction materials so that it will be used in high-level construction sites. These are the ways forward for the Bamboo industry stakeholders to work on.

Photo credit: Masbate Gold Project The Department of Environment and Natural Resources - Mines and Geosciences Bureau (DENR-MGB) is proposing the implementation of a policy that allows only one operator per mining tenement in the country. Implementing such policy will help improve the execution of mining agreements and promote the holistic, harmonious, and systematic conduct of mining operations, MGB Mining Tenements Management Division chief Danilo Deleña said Friday during Day 2 of a virtual mining stakeholders' forum. Deleña said the MGB drafted the policy due to "persistent disputes and issues among contractors and multiple operators, which compromise the conduct of mining operations within mining tenements.” “That's why there's (a) need to limit the operator under a mining tenement," he said. He said the MGB has proposed the policy to Environment Secretary Roy Cimatu for review and approval. If approved, the DENR would issue an administrative order institutionalizing the policy, Deleña said, adding that the MGB is hoping the department would issue the order soon. The proposed policy covers all mineral production sharing agreements (MPSAs) and financial or technical assistance agreements (FTAAs), according to the MGB. The bureau defines the MPSA as a mineral agreement in which the "government shares in the production of the contractor, whether in kind or in value, as owner of the minerals," while the contractor "shall provide the necessary financing, technology, management, and personnel for the mining project." On the other hand, the FTAA is an agreement that "may be entered into between a contractor and the government for the large-scale exploration, development, and utilization of gold, copper, nickel, chromite, lead, zinc and other minerals except for cement raw materials, marble, granite, sand and gravel and construction aggregates.” Deleña said the proposed policy requires mining tenement operators to meet certain qualifications. He said under DENR Memorandum Order 99-10, an operator must have satisfactory environmental management and community relations in previous mineral resource use ventures and must possess technical competence and financial capability to conduct mining operation within the area covered by the MPSA or FTAA concerned. The proposed policy likewise identified grounds for either suspending the mining operations of contractors authorized to undertake these or canceling MPSAs and FTAAs concerned, Deleña said. "Failure of the operator to conduct mining operations in the contract area under the MPSA or FTAA for more than one year from authorization therein shall cause withdrawal of the said authority," he said. Deleña said the proposed policy has a transitory provision covering existing multiple operators under either MPSAs or FTAAs. He said under that provision, operators "shall continue to be authorized until (the) expiration of the term of their respective operating agreement, memorandum of agreement, and other similar forms of agreement." "The authorization of multiple operators shall cease upon expiration of the term of their respective agreements and the contractor shall elect which operator shall remain to conduct mining operation" under the mining agreement concerned, he added.   Article courtesy of the Philippine News Agency

Photo credit: Nickel Asia Corporation Facebook Page Nickel Asia Corporation recently announced its unaudited financial and operating results for the nine-month period ended September 30, 2021 with an attributable net income (net of minority interests) of P6.17 billion, 168% higher compared to the P2.30 billion achieved in the same period last year. Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to P11.01 billion compared to P5.93 billion in the prior period. The higher net income was primarily the result of higher ore sales prices. The Company sold a total of 14.4 million wet metric tons (WMT) of nickel ore at the weighted average realized price of $27.96 per WMT in the first nine months of 2021, compared to 14.0 million WMT at $20.10 per WMT in the same period last year. Accordingly, total revenues increased by 39% to P21.06 billion from P15.11 billion in the prior year. Breaking down the ore sales, the Company exported 8.73 million WMT of saprolite and limonite ore to customers in Japan and China at the average price of $38.69 per WMT in the nine-month period ended September 30, 2021. This compares to 7.50 million WMT at $30.53 per WMT in the same period last year. Likewise, the Company delivered 5.68 million WMT of limonite ore to Coral Bay and Taganito HPAL plants, the prices of which are linked to the LME, and realized an average price of $8.20 per pound of payable nickel. This compares to 6.52 million WMT at $5.97 per pound of payable nickel in the same period last year. Following higher Nickel LME prices in 2021, the Company recognized gain from its equity share in its investments in the two HPAL plants in the combined amount of P340.4 million in the first three quarters of 2021, compared to a loss of P11.1 million in the same period last year. Furthermore, due to the stronger US Dollar, the Company recognized net foreign exchange gains from its US Dollar denominated net financial assets in the amount of P587.2 million for the first nine months of 2021, a turnaround from the net foreign exchange losses of P333.5 million in the same period last year. Total operating cash costs increased by 13% year-on-year to P8.86 billion from P7.83 billion in 2020. On a per WMT basis, total operating cash costs increased to P615 per WMT of ore sold from P559 per WMT in 2020. “Chinese stainless steel production was up 12% year-on-year and nickel ore prices as well as LME Ni price have continued its upward momentum, despite the slowdown in Chinese GDP growth” said Martin Antonio G. Zamora, President and CEO of the Company. “While the Chinese economy is currently facing short-term uncertainties, the surging EV industry remains the main driver of nickel demand over the long-term,” Mr. Zamora added. Finally, the Company’s Board of Directors approved the declaration of a special cash dividend of P0.22 per share of common stock, payable on December 2, 2021 to shareholders of record on November 18, 2021.   Article courtesy of the Philippine Stock Exchange

Photo credit: Bilyonaryo Atlas Consolidated Mining and Development Corporation (“Atlas Mining”) reported net income of Php3.48 billion for the three quarters of 2021 compared to the net income of Php490 million for the same period in 2020. Higher metal prices and the stable production in the three quarters sustained the improvement in net income. Metal prices remained high in the third quarter this year pushing average copper price higher by 60% to $4.22/lb and gold price by 4% to USD1,803/ounce compared to the same period last year. Atlas Mining’s wholly-owned subsidiary, Carmen Copper Corporation, reported higher copper production and shipments in the third quarter compared to the second quarter due to improvements in copper head grades and recovery. Quarter-on-quarter, copper metal produced increased by 11% from 22.80 million lbs to 25.36 million lbs while gold produced increased by 44% from 5,829 ounces to 8,386 ounces. Year-on-year, copper metal production decreased from 81.62 million pounds in 2020 to 64.09 million pounds in 2021, due mainly to the decrease in copper grades by 20% from 0.309% to 0.246% as ore milled in the first quarter was sourced from stockpiles. Gold production decreased year-on-year by 45% from 35,814 ounces to 19,562 ounces due also to lower gold grades from 8.05 grams/dmt to 5.38 grams/dmt. Cash costs decreased by 3% year-on-year from Php7 billion in 2020 to Php6.82 billion in 2021, due to overall lower volumes of shipments and production. Earnings before interest, tax, depreciation and amortization (EBITDA) was Php8.02 billion for the three quarters, 31% higher compared to Php6.13 billion in 2020. Core income for the period was Php3.34 billion in 2021 compared to Php1.64 billion in 2020. Atlas Mining continues to strengthen its overall financial position supported by its improving earnings, efficient operations and robust metals market.   Article courtesy of the Philippine Stock Exchange

In celebration of World Bamboo Day last September 18, The Philippine Mining Club presented a webinar/summit titled "Bamboo Economics and Initiatives to Re-Imagine Mining into Social Enterprises -- A Summit on Re-Imagining, Developing, and Sustaining Mining Communities in the Philippines with Bamboo."   The summit was a 5-hour online event that was made possible in partnership with the Department of Trade and Industry Philippines, Philippine Nickel Industry Association, Mines and Geosciences Bureau, Chamber of Mines of the Philippines, Kilusang 5K, and more.

Despite the challenges posed by the Covid-19 pandemic, production and favorable metal prices for gold and copper have been sustained since 1Q2021. As a result, the Management and the Board of Directors of Philex Mining Corporation recently announced that the Company generated another quarter of positive results. Philex recorded a Core Net Income of Php716 million for the quarter, higher by 55% than the same period in 3Q2020, mainly due to higher copper prices, favorable foreign exchange rates and managed operating expenses. The 3Q2021 Core Net Income of Php716 million rides on the positive and upward profit trend from the Php540 million achieved in 1Q2021 and the Php610 million posted in 2Q2021. This brings the 9M2021 core net income to Php1.865 billion, higher by 116% over the same period of 9M2020, attributable to favorable metal prices, sustained metal output and efficient deployment of operating costs and expenses. On the other hand, 3Q2021 EBITDA at Php1.168 billion continue to maintain the positive trend during the first two quarters EBITDA of Php2.027 billion, to top up 9M2021 EBITDA to Php3.194 billion, a 57% rise from the same period 9M2020. Reported net income for 3Q2021 is Php721 million, a 46% increase over the same period 3Q2020, while 9M2021 Reported net income reached Php1.880 billion, a 105% increase from 9M2020. Production and Revenues The Company generated higher tonnage in the third quarter of the year. For 3Q2021, total tonnage milled was at 2.006 million tonnes slightly higher compared to 1.985 million tonnes in 3Q2020 and 1.943 million tonnes of 2Q2021. Philex produced slightly lower gold output at 14,270 ounces in 3Q2021 when compared to 3Q2020 due to lower gold grades while the slightly higher copper grades produced higher copper output at 6.54 million pounds, which mitigated the impact to the total revenues. The Company was able to maintain a positive trend in metal output since 1Q2021 for both gold and copper mainly due to the resilient execution of the mining plan that resulted to better blended metal grades and sustained level of metal output. The favorable prices for both gold and copper attributed to the higher revenues for 3Q2021 at Php2.656 billion, a 13% increase over the revenues of the same period of 3Q2020 at Php2.350 billion. The favorable foreign exchange rate contributed to higher revenues in 3Q2021. For the 9M2021 period, revenues at Php7.742 billion was higher by 22% from revenues of 9M2020 at Php6.332 billion. This is attributable to the significant increase in the realized price of copper since 3Q2020 resulting into a higher contribution of revenues from copper at 52% of total revenues for 9M2021 from 40% of total revenues for 9M2020. On the other hand, revenues contribution from gold declined from 59% in 9M2020 to 47% in 9M2021 mainly due to the slightly lower gold output, from 43,136 ounces in 9M2020 to 41,295 ounces in 9M2021. Operating Costs and Expenses The Company’s operating cost and expenses for 3Q2021 stood at Php1.603 billion, higher than 3Q2020 of Php1.582 billion. The slight increase is consistent with the slightly higher tonnage milled in 3Q2021 versus 3Q2020. Materials and supplies usage at Php454 million accounting for 28% of operating cost remained almost the same level. Power costs, accounting for 18% of operating cost, was higher at Php290 million, an of 7% when compared to 3Q2020. Overall, the Company continue to manage operating cost efficiently. For the 9M2021, operating cost inched up by 3% to Php4.843 billion from Php4.686 billion in 9M2020 as a result of higher power and labor costs from higher tonnage milled, and higher excise taxes attributed to the higher total revenues. For the nine months period ended September 30,2021, the Company recorded its share in the net losses of its associates amounting to Php510 million, inclusive of the Company’s share in the PXP Energy Corporation provision for impairment of assets and goodwill related to Peru block Z-38, net of proceeds from the settlement agreement with third party. As a result of the extension of the Padcal mine life from December 31,2022 to December 31,2024, the Company recognized a net reversal of the previously recorded impairment provision in its mining assets amounting to Php374 million. Positive outlook and extension of Padcal life of mine By itself, 3Q2021 ushered in a more stable and continuing positive outlook for the mining industry, brought about by significant developments in the previous quarter. In April 14, President Rodrigo Roa Duterte issued Executive Order No. 130 which amended Section 4 of Executive Order No. 79 and lifted the moratorium on mineral agreements that had been existing for the past 9 years. This will pave the way for the development of stalled mining projects, leading to renewed investor’s interest in our Silangan Project. The Company is currently exploring options on viable financial packages that would bankroll a phased development approach (In Phase Development) of Silangan. The extended Life of Mine from December, 2022 to December, 2024 will ensure the continuous employment of 1,831 Padcal employees and support the social development of the Host Local Government Units (LGU) and neighboring communities especially in this time of COVID- 19 Pandemic. It will also give more time for the Company to bring the Silangan Project to development and commissioning stages. “In response to this global trend of strong demand and strong metal prices, as well as responding to the Government challenge for the revitalization of the mining industry, Philex will keep improving on how we do things and undertake innovative initiatives related to the promotion of right and principled mining,” according to Eulalio B. Austin Jr., President and CEO. “The pursuit for excellence is a continuous journey and we have to keep raising the bar.” “With higher metal prices and a better economic outlook for the mining industry moving forward, we can maintain the momentum of last year’s exemplary performance into this year, notwithstanding the pandemic and the challenges we have faced in our operations,” concluded M.V. Pangilinan, Chairman. “Time and again, the women and men of Philex have proven their resilience during tough times. With the extension of Padcal mine life for another two years, the prospect of a viable financial package for our Silangan project, and the rollout of our vaccination program for our employees and their dependents, it looks like the full year 2021 will produce excellent results for your Company.”   Article courtesy of the Philippine Stock Exchange

Photo credit: Oceanagold OceanaGold Corporation reported its financial and operational results for the quarter ended September 30, 2021. Details of the consolidated financial statements and the Management Discussion and Analysis are available on the Company’s website. Scott Sullivan, Chief Operating Officer & Acting CEO of OceanaGold said, “I am very pleased with the financial performance of the business driven by strong EBITDA and profits. The main drivers of this financial performance relate to a strong quarter at Haile and Didipio, where we are pleased to announce the completion of gold-copper 2 concentrate transportation. Despite this strong performance, we have much work ahead of us to progress the safe restart of Didipio processing and mining operations, complete the Haile Technical Review and get the New Zealand operations back on-track while continuing to manage the ongoing risks associated with the pandemic.” “The Didipio restart activities continue to exceed our expectations with recruiting and training activities progressing to plan despite the ongoing risks associated with COVID-19. We are pleased to announce the resumption of underground mining and the delivery of underground ore to the ROM pad early in October, one month ahead of schedule. Stope development is expected to commence in the coming weeks and we will continue to ramp-up underground operations to full mining production rates over the course of the next eight to nine months. Processing activities are tracking ahead of plan with recommissioning of the primary crusher completed in the third quarter. We expect milling at Didipio to recommence in mid-November with ore sourced primarily from stockpiles and supplemented progressively with higher-grade underground ore.” “At Haile, the operation achieved a better-than-expected quarter of production with costs in-line with expectations. Although the fourth quarter is expected to deliver softer production from mining and processing of lower grades, we are well positioned to finish the year strongly. We are pleased to increase Haile’s 2021 production range to 175,000 to 180,000 ounces of gold reflecting the better-than-expected operating performance over the first nine months of the year. The Haile Technical Review continues to advance well, and we are expecting to complete a new mine plan within the first half of 2022.” “In New Zealand, both operations were adversely impacted by the two-week nationwide lockdown. At Waihi, the impact related to the shutdown and subsequent regional lockdowns was greater than first expected with carry over impacts in our supply chain beyond the two-week closure. Additionally, recent updates to the resource models impact material planned for the fourth quarter. As a result, Waihi is now expected to deliver 30,000 to 35,000 ounces of gold for the full year. Despite the challenges Waihi has had recently, ramp-up of Martha Underground mining rates continue to advance and the Company expects a stronger fourth quarter and 2022. At Macraes, we are focused on delivering a strong fourth quarter of production to achieve the narrowed guidance range of 138,000 to 143,000 ounces.” “Looking ahead, the Company reaffirms its full year guidance range of 350,000 and 370,000 ounces of gold at an AISC of $1,200 to $1,250 per ounce sold. Operations Consolidated gold production for the YTD 2021 was 256,216 ounces, including 79,177 ounces in the third quarter. YTD gold production increased 27% above the prior YTD driven by higher production from Haile partially offset by lower production at Macraes. Third quarter gold production decreased 16% due to softer production from the New Zealand operations, principally related to the two-week nationwide COVID-19 lockdown and lower production at Haile from lower grades as expected. YTD and third quarter consolidated AISC were $1,218 per ounce and $1,200 per ounce on gold sales of 276,226 ounces and 97,445 ounces, respectively. AISC was flat quarter-on-quarter and YTD, attributable to higher gold sales that are largely offset by higher sustaining capital investments. In the Philippines, the Government renewed the Didipio FTAA for an additional 25-years effective June 19, 2019. The renewal in mid-July paved the way for the resumption of operations and commencement of restart activities including the recruitment and training of the workforce, delivery of equipment and supplies, the transportation and sale of gold and copper inventory (both doré and concentrate), process plant maintenance and recommissioning and underground inspections and upgrades. The Didipio restart activities continue to advance well with recruitment tracking to plan. The Company expects 90% of the workforce to be in place by the end of the year subject to continued management of COVID-19. Process plant restart activities continue to progress ahead of expectations with recommissioning of the primary crusher completed prior to the end of the quarter, completion of upgrades to the Ball and SAG mills and delivery of supplies ahead of first ore feed in mid-November. Underground mine inspections were completed in the third quarter along with upgrades and delivery of new Sandvik equipment. In the third quarter, the Company began ore mining, one month ahead of schedule while stope development is expected in November. First underground ore was delivered successfully to the ROM pad at the end of the third quarter. During the third quarter, the Company sold 19,151 gold ounces and 3,356 tonnes of copper from inventory on hand at Didipio. All gold-copper concentrate has been delivered successfully to the San Fernando port and the Company has received $38 million of cash as at the end of the third quarter. The Company expects to progressively receive all payments associated with the sale of gold-copper concentrate prior to the end of the year. In the United States, Haile produced 147,491 ounces of gold YTD, including 45,910 ounces in the third quarter. Haile’s YTD production was 67% higher than the corresponding period in 2020 due to increased head grade as expected and operational improvements. Third quarter production was slightly lower than the previous quarter; however, a positive reconciliation led to better than planned production for the quarter. Haile’s YTD AISC was $1,028 per ounce and cash costs of $653 per ounce on gold sales of 148,529 ounces. Third quarter AISC and cash costs were $1,208 per ounce and $581 per ounce on gold sales of 44,013 ounces. In New Zealand, Macraes delivered YTD gold production of 92,902 ounces, with lower-than-expected gold production of 25,720 ounces in the third quarter. YTD 2021 gold production was approximately 9% lower than YTD 2020 due to geotechnical challenges at Coronation North leading to reduced mining rates in higher grade ore zones and extended downtime related to planned and unplanned process plant maintenance leading to decreased throughputs. Third quarter production was 21% lower than in the second quarter mainly related to the two-week nationwide lockdown and subsequent slower than expected ramp-up of operations. Macraes’ YTD AISC was $1,468 per ounce sold while third quarter AISC was $1,573 per ounce sold. The Waihi operation produced 7,547 ounces of gold in the third quarter, and 15,823 ounces YTD. The YTD production was approximately 30% higher due to ongoing ramp-up of Martha Underground. Third quarter production increased quarter-on-quarter following the completion of plant upgrade works in the second quarter. The quarter-on-quarter increase was partially offset by the two-week nationwide lockdown and slower than expected subsequent ramp-up of operations. Waihi’s YTD AISC was $1,589 per ounce while third quarter AISC was $2,072 per ounce sold. Financial YTD 2021 revenue was $536.1 million, a 62% increase over the corresponding period in 2020 related to higher sales from Haile and Waihi and sales related to Didipio following the renewal of the FTAA in mid-July and a higher average gold price received. Third quarter revenue of $204.6 million was 12% higher quarter-on-quarter related to Didipio gold and copper sales, partially offset by decreased sales from Haile and Macraes and lower average gold price received. Adjusted EBITDA (excluding idle capacity costs related to Didipio carrying costs) for YTD 2021 was $259.2 million, reflecting a 173% increase year-on-year. Third quarter adjusted EBITDA was $97.3 million, 2% above the previous quarter in line with higher gold and copper sales. YTD 2021 adjusted net profit was $111.7 million or $0.16 per share, compared with an adjusted loss of $40.5 million over YTD 2020 related to higher revenue from increased sales at Didipio and Haile and a higher average gold price received. Third quarter adjusted net profit was $53.0 million, or $0.07 per share, which was significantly above the comparative quarters. Cash flows from operating activities were $152.4 million for the YTD including $69.0 million in the third quarter, which was 9% and 92% above the prior September and June quarters respectively. Relative to EBITDA, operating cash flow offset by physical settlements of the gold prepayment arrangement whereby 8,889 ounces valued at $17.1 million were delivered in the third quarter. A total of 40,000 ounces valued at $76.7 million were physically delivered for the YTD. The Company has no further physical deliveries due or other hedging arrangement in place. Cash flows used in investing activities totalled $236.0 million in the YTD, which was 45% above the prior year driven by higher growth capital investments at Haile related to the expansion of waste storage facilities, the Golden Point Underground development at Macraes, and the ongoing development of Martha Underground at Waihi. Fully diluted cash flow per share before working capital movements and exclusive of gold prepayments was $0.12 in the third quarter and $0.34 for the YTD. During the third quarter the Company drew down $50 million of debt under its revolving credit facilities and established an additional short-term working capital facility of $30 million. As at September 30, 2021 the Company’s revolving credit facilities remained drawn to $250 million with $30 million undrawn. At the end of the third quarter, the Company had available liquidity of $143.2 million including $113.2 million in cash. The Company’s net debt position was $256.5 million, an increase from the previous quarter of $224.8 million as increased capital expenditures were partially offset by higher sales. Consolidated capital expenditure in the third quarter of 2021 was $91.2 million, a slight decrease quarter-onquarter, primarily lower growth capital invested partially offset by higher pre-stripping capital. YTD capital expenditures of $255.4 million increased 30% over the prior year, reflecting capital investments related to increased pre-stripping capital at Haile and Macraes, and growth capital associated with the Haile expansion, Golden Point Underground at Macraes and the ongoing development of Martha Underground at Waihi. Third quarter capital expenditure of $55.5 million at Haile was primarily related to the ongoing expansion of mining operations, including construction of the third tailings storage facility wall lift and heavy earthworks related to the 7 construction of potentially acid generating (“PAG”) waste storage facilities. Pre-stripping capital at Haile is tracking higher than originally guided, reflecting a higher allocation of mining costs to capital expenditure than previously forecast. Haile pre-stripping capital for 2021 is now expected to range between $65 and $70 million. As this is a reclassification from cash costs, there is no change in total mining costs or AISC as a result. Outlook On a consolidated basis, the Company expects to achieve its full year gold production guidance of 350,000 to 370,000 ounces at an AISC of $1,200 to $1,250 per ounce sold and cash costs of $725 to $775 per ounce sold. The consolidated guidance reflects the changes to the Haile and Waihi guidance ranges and is inclusive of Didipio’s fourth quarter guidance. In the United States at Haile, the stronger than expected production YTD has a resulted in the Company increasing Haile’s full year outlook, whereby production is expected to range between 175,000 and 180,000 ounces of gold compared to 160,000 and 170,000 ounces of gold previously guided. Haile’s 2021 AISC guidance range remains unchanged at $1,100 to $1,150 per gold ounce sold and at a lower cash cost of $650 to $750 per ounce sold. The Haile Technical Review continues to progress with a comprehensive review of mining and processing operations, costs, capital investments and water and waste management including open-pit/underground tradeoff studies. This review is expected to reflect historical and forecast operational data and cost inputs and resequencing of mining activities, with an aim to maximise cash flows over life of mine while incorporating more effective capital allocation. The Company expects an updated mine plan in the first half of 2022, with ongoing implementation of operational changes and value realisation over the next 18 months. The timing of a new mine plan is also dependent on receipt of the SEIS final Record of Decision and associated permits. Based on feedback from regulators, the Company now expects the Record of Decision and related permits to be completed within the first quarter of 2022. These permits relate to the expansion of the operating footprint to accommodate waste stockpiles, increased capacity through the water treatment plant, as well as development of the Haile Underground. Engagement with the US Army Corps of Engineers and South Carolina Department of Health and Environment Control is ongoing as the Company responds to inquiries received post release of the Draft SEIS. The Company expects Macraes’ gold production for the full year to range between 138,000 to 143,000 ounces of gold from 135,000 to 145,000 ounces previously, with higher throughput and stronger grades expected in the fourth quarter. Following the two-week New Zealand national lockdown, the ramp-up of operations in September was slower than initially expected. Now into the fourth quarter, Macraes operations are ramping-up to expectations. The Macraes AISC guidance range remains unchanged at 1,300 to 1,350 per ounce sold. The Waihi operation is expected to produce between 30,000 and 35,000 ounces of gold compared to its original 2021 guidance range of 35,000 to 45,000 ounces of gold. The decrease in forecast output is due to resource model updates affecting material planned for the fourth quarter related to grade reconciliation. The Company does not expect this to have a long-term impact on the operation, with resource definition and grade control programmes well advanced. The COVID-19 two-week lockdown compounded the impact by deferring alternate high-grade panels to 2022. The Waihi AISC guidance has been revised to $1,525 to $1,575 per ounce sold. Preparation for the lodgement of a consent application for the Waihi North Project, inclusive of Wharekirauponga (“WKP”) Underground Mine, continued to progress with environmental assessments nearing completion. The Company expects to lodge its formal consenting application inclusive of stakeholder feedback with the regulator in the first half of 2022. The Company continues to advance the technical studies as part of the consenting and Pre-feasibility Study (“PFS”) workstreams. This work is ongoing and supported by resource conversion drilling at WKP. Although the PFS is contemplated for completion in the first half of 2022, the Company may increase the scope of the work and expand drilling efforts to further enhance the project value proposition. The impact on the timing of such work is being considered and could result in extending the date of completion of the study. In the Philippines, the Company will continue to advance restart and ramp-up activities while managing the ongoing risks associated with COVID-19. For the fourth quarter, Didipio is now expected to produce between 7,000 and 12,000 ounces of gold (previously 5,000 to 10,000 ounces of gold) and 1,000 tonnes of copper with the range reflecting the ongoing risks noted. For the full year, Didipio gold sales are expected to range between 25,000 and 30,000 ounces while copper sales are expected to range between 4,500 and 5,000 tonnes. 2021 AISC is now expected to be between $100 and $150 per ounce sold while by-product cash costs are expected to range between $25 and $75 per ounce sold with higher copper pricing increasing by-product credits. Full year 2021 sales are expected to range between 25,000 and 30,000 ounces of gold and 4,500 and 5,000 tonnes of copper. Looking ahead to the fourth quarter, the Company expects milling at Didipio to commence in mid-November, with ore feed sourced primarily from lower grade stockpiles and supplemented with higher grade underground ore as the underground mining operations ramp-up. Underground mining activities have commenced, one month ahead of schedule and the Company expects first stoping in November, also ahead of schedule.   Article courtesy of OceanaGold 

October is United Nations Month with its main celebration last 24 October 2021. In response to the United Nations Sustainable Development Goals (UNSDG), the Philippine Nickel Industry Association (PNIA) launched their first sustainability report to highlight the industry’s contribution and impact to local communities for 2020. They presented their report via a Zoom media launch last 20 October 2021. This online event is the 4th episode of the Nickel Initiative Webinar Series. The sustainability report is titled “Global Goals, Local Action – Sustainability as our way of life in nickel mining”. From PNIA’s press release, “The report underscores the industry’s social and economic contributions in the country consistent with the UN SDG global policy goals which are policy framework aimed at achieving sustainable living for current and future generations.” PNIA is a non-stock, non-profit association that was established in 2012. PNIA was organised “to be the single voice of the industry in championing and positioning the nickel development sector as a globally-competitive and responsible driver of inclusive and sustainable economic growth in the Philippines”. PNIA is registered with the Securities and Exchange Commission. October is United Nations Month with its main celebration last 24 October 2021. In response to the United Nations Sustainable Development Goals (UNSDG), the Philippine Nickel Industry Association (PNIA) launched their first sustainability report to highlight the industry’s contribution and impact to local communities for 2020. They presented their report via a Zoom media launch last 20 October 2021. This online event is the 4th episode of the Nickel Initiative Webinar Series. The sustainability report is titled “Global Goals, Local Action – Sustainability as our way of life in nickel mining”. From PNIA’s press release, “The report underscores the industry’s social and economic contributions in the country consistent with the UN SDG global policy goals which are policy framework aimed at achieving sustainable living for current and future generations.” PNIA is a non-stock, non-profit association that was established in 2012. PNIA was organised “to be the single voice of the industry in championing and positioning the nickel development sector as a globally-competitive and responsible driver of inclusive and sustainable economic growth in the Philippines”. PNIA is registered with the Securities and Exchange Commission.

TVI Pacific Inc. is pleased to announce the completion of a second shipment of gold doré from the Balabag gold and silver project. Balabag is owned 100% by TVI Resource Development Phils., Inc. a Philippines corporation in which TVI holds a 30.66% interest, and is located in Zamboanga del Sur, Philippines.  Continuing Gold Production at Balabag Gold-Silver Project : Further to the announcement of September 30th, 2021, in which the Company announced the first shipment of gold doré from Balabag and reported various operating statistics, TVIRD has further confirmed that Balabag mill plant availability month-to-date has been 85% and that it is currently processing at a month-to-date average rate of 1,064 tpd.  The second shipment in the amount of 894 kg of gold doré has been delivered to the designated refinery and contains 641 ounces of Au and 27,552 ounces of Ag for 992 gold equivalent ounces.  Gross proceeds from the second shipment are US $1.8 million.  The second shipment of gold doré follows the completion of the first shipment on September 30, 2021.  Activities at site continue to be concentrated on optimizing the operation and the ramping-up of throughput to 2,000 tpd.  The average head grade month-to-date has been 1.8 g/t Au and 95.1 g/t Ag while the average recoveries month-to-date have been 93% for Au and 86% for Ag. The run of mine ("ROM") mineralized stockpile, in-pit stockpile and crushed mineralized stockpile currently contains an approximate 100,000 tonnes of mineralized material, much of which is low to marginal grade and continues to be mined to expose the higher-grade mineralized resource during waste stripping and bench forming.  The stockpiles have an average grade of 1.3 g/t Au and 47.7 g/t Ag.  It is expected that the average grade of feed will increase as higher-grade mineralized resource is mined.  Ongoing exploration drilling is continuing at Balabag with TVIRD having completed to date twenty-six (26) drillholes for a total meterage of 3,720 meters in its Phase 5B drilling program.  A total of twenty-eight (28) holes are expected to be drilled with an estimated meterage of 4,200 meters.  The Phase 5B drilling program together with assays and reporting is currently expected to be completed in Q4 2021. "We are pleased with the progress at Balabag having now completed the second shipment of gold doré within days of the first shipment being delivered to the designated refinery.  Our focus continues to be to further ramp-up throughput as we continue to optimize the process but in general the equipment is working well", said Mr. Cliff James, Chairman and CEO of TVI and Chairman of TVIRD, "We look forward also to our soon being able to share with all stakeholders the results of Phase 5B drilling as TVIRD continues to pursue its growth strategy with ongoing drilling at Balabag."

Photo credit: TVIRD - TVIRD’s field office and processing plant sit at the crest of Balabag Hill – which provides a good vantage point for monitoring its mining operations and progressive rehabilitation as well as a proper slope for directing effluents to its tailings storage and impoundment facility down below. Mining stakeholders of this town are jubilant that TVI Resource Development Philippines Inc. (TVIRD) finally commenced its commercial mining operations in Sitio Balabag.  Subanen tribal leaders as well as local government officials are likewise optimistic that with this development, people in the region will surely benefit from the increased economic activity in downstream industries. The news also brought a smile to the 78-year old tribal leader, Timuay Casiano Edal – a member of the Subanen tribal council called Pigsalabukan Gokum de Bayog (PGB) and one of the signatories of the Memorandum of Agreement (MOA) signed by the tribe and TVIRD.  The MOA enumerates the duties and responsibilities of the two parties as the company utilizes the Subanen ancestral lands and harnesses its resources. “After many years of waiting, finally TVIRD is operational.  I never thought I would still witness its mining operations,” the chieftain told TVIRD Community Relations Officer Lope Dizon.  Edal was among the many Subanens who warmly welcomed the company’s geologists assigned to explore Balabag some 20 years ago. “He has a heart for his tribesmen.  Because of this, Edal believes that tribal leaders can now implement the development plans embodied in their Ancestral Domain Sustainable Development and Protection Plan (ADSDPP), which was approved by the National Commission on Indigenous People (NCIP),” added Dizon. The government’s partner Bayog Mayor Celso A. Matias is also confident that his constituents will enjoy more benefits now that the company is operational.  In a recent TV interview, the mayor discussed the economic impact of mining on his town and commended the company for providing employment to his constituents. In that interview, the mayor also applauded TVIRD for supporting local businesses and its implementation of development projects through its Social Development Management Plan or SDMP. “Namalit sila sa mga lokal nga produkto dinhi sa Bayog. Sa karne lang, daku nga volume ang ilang ginapalit nga usahay ma-‘short’ na gani ang mga supplier (They are buying their essentials here. They are ordering a large volume of local meat that may sometimes result to shortage of the product from its supplier),” he said. The mayor who once visited TVIRD’s first project in Sitio Canatuan, Siocon, Zamboanga del Norte is hopeful that Bayog can also be elevated from being a third-class municipality to first-class status due to the company’s local taxes remittances – this, in addition to its tax contribution into the national government. Mayor Matias is referring to the excise taxes paid by mining companies to the national government in which the host province, municipality and barangay will have a predetermined share of the tax as mandated by the Mining Act of 1995. During its gold-silver and copper-zinc projects in Canatuan, TVIRD paid a total of Php395.2 million in excise tax to the national government.  Records from TVIRD’s Finance Department also show that the company paid a total of Php38.9 million to Siocon town for its business permit from 2004 to 2018 while another Php18.7 million was paid for its real property tax. Meantime, TVIRD invested some Php173.4 million in its SDMP and Php264-million in royalties to the Subanen tribe during its 10-year run in Canatuan. To spark hope Seeing him at work, one can say that Antonio Malco, Jr. is happy and content in working for TVIRD.  Malco, Jr. 38, is a resident of Bayog and father of a teenage son who is already in high school.  He is a crane operator and has been with the company for two years now. “During this pandemic, when many are hungry and hopeless because of joblessness, I can say that I am blessed to have this job.  My family is assured of food on our table and other basic needs,” he said. Welder Ariel Arado, 36, likewise shared that he is happy to be back in TVIRD.  He said he likes working for the company since it looks after the welfare of its employees.  “Happy ako sa trabaho ko (I am happy with my job).” Arado was a member of the Special Civilian Active Auxiliary (SCAA) that helped secure the company’s assets in 2005 and was also part of the exploration team in 2007 until 2008.  Malco and Arado are two of over 750 people working in TVIRD Balabag. Hiring locals TVIRD’s 4,779-hectare Mineral Production Sharing Agreement (MPSA) area spans the three provinces of the Zamboanga Peninsula.  Nearly half of its workers are residents of Bayog, an agricultural town.  Meantime, eligible candidates from neighboring Sibugay, Zamboanga del Norte and other provinces are appointed to technical positions. The company likewise honors its agreement to provide employment for eligible Subanens.  Some 13% of its workforce are Subanens – a development lauded by Timuay Lucenio Manda of the PGB and who leads the collective Subanen tribe along with Edal. TVIRD Balabag Project Manager Jun Gingo said that the company is currently operating at a capacity of 1,000 tons per day and has completed its first shipment of gold doré in the amount of 855 kg containing 932 ounces of gold and 25,959 ounces of silver. With the Balabag plant and mining activities operating twenty-four hours per day, Gingo draws confidence from the collective experience of its workers and the capability of the newly-installed mill plant – which will enable TVIRD to ramp-up operations to double the current capacity.   Article courtesy of TVIRD

TVI Pacific Inc. is pleased to announce that gold production has commenced at the Balabag gold and silver project ("Balabag"). Balabag is owned 100% by TVI Resource Development Phils., Inc. ("TVIRD"), a Philippines corporation in which TVI holds a 30.66% interest, and is located in Zamboanga del Sur, Philippines.    First Gold Production at Balabag Gold-Silver Project : TVIRD has confirmed that Balabag mill plant availability month-to-date has been 90% and that it is currently processing at a month-to-date average rate of 936 tpd.  The first shipment in the amount of 855 kilograms ("kg") of gold doré has been delivered to the designated refinery and contains 932 ounces of Au and 25,959 ounces of Ag for 1,263 gold equivalent ounces.  Gross proceeds from the first shipment are US $2.2 million.  Activities at site continue to be concentrated on optimizing the operation and the ramping-up of throughput to 2,000 tpd.  The average head grade month-to-date has been 1.6 g/t Au and 79.0 g/t Ag while the average recoveries month-to-date have been 95% for Au and 86% for Ag. The plant is currently being fed from the run of mine ("ROM") mineralized stockpile.  An approximate 86,500 tonnes of mineralized material is now on the ROM mineralized stockpile, in-pit stockpile and crushed mineralized stockpile, much of which is low to marginal grade and was mined to expose the higher-grade mineralized resource during waste stripping and bench forming.  The stockpiles have an average grade of 1.1 g/t gold and 39.7 g/t silver.  It is expected that the average grade of feed will increase in the coming weeks as higher-grade mineralized resource is mined.  Twenty-four-hour operation of the plant was introduced in late August. TVIRD is continuing to pursue its growth strategy with ongoing exploration drilling at Balabag.  As announced in the Company's news release of August 4, 2021, five (5) drill rigs are actively working through TVIRD's Phase 5B drilling program through which twenty-seven (27) holes are expected to be drilled with an estimated meterage of 4,155 meters.  The Phase 5B drilling program together with assays and reporting is currently expected to be completed in Q4 2021. "We are proud of the Balabag project and operating teams for completing construction activities through a global pandemic and achieving a successful ramp-up to first gold pour and shipment.  I want to take this opportunity to commend our team's commitment and hard work in achieving this major growth milestone for both TVIRD and TVI Pacific", said Mr. Cliff James, Chairman and CEO of TVI and Chairman of TVIRD, "This is the culmination of a long journey that started many years ago that has faced many challenges but the determination of our team to bring Balabag to reality has endured and has now created the potential to generate significant benefit for all stakeholders.  We are happy to share notice of this achievement with our shareholders."