Listed natural resources development firm Nickel Asia Corp. (NAC) (PSE: NIKL) announced its unaudited financial and operating results for the six-month period ended June 30, 2023.

During the period, the Company recorded an attributable net income (net of minority interest) of P1.7 billion, down 55 percent from P3.8 billion year-on-year.

Excluding the company’s equity interest in the Coral Bay and Taganito high-pressure acid leach (HPAL) projects, NAC’s attributable net-income (net of minority interest) of P1.8 billion is down 33 percent from P2.7 billion year-on-year on the back of lower nickel ore prices due to the growth in Indonesian nickel production and the slowdown in the Chinese economy. The combined losses incurred by the HPAL plants were due to lower metal prices of nickel and cobalt year-on-year.

Likewise, revenues declined by 8 percent to P10.9 billion from P11.8 billion in the same period last year. Operating mines sold a combined 7.52 million wet metric tons (WMT) of nickel ore, an improvement of 8 percent compared to the same period the year prior.

The Company exported 3.66 million WMT of saprolite and limonite ore at the average price of $28.22/WMT during the period against 3.12 million WMT at $42.05/WMT from the previous year.

Additionally, the Company delivered 3.86 million WMT of limonite ore to the Coral Bay and Taganito HPAL plants, realizing an average price of $10.13 per pound of payable nickel for the first six months of the year. This compares to 3.83 million WMT at $12.52 per pound of payable nickel in the same period of the previous year.

As a result, the weighted average nickel ore sales price during the period decreased by 26 percent to $22.32/WMT from $30.03/WMT last year. The Company realized P55.33 per US dollar from nickel ore sales, a 5-percent increase from P52.56 year-on-year.

The group’s consolidated Earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled P4.79 billion, a 25.7-percent decline from the same period last year. NAC registered a loss from its combined equity interests in the two HPAL plants in the amount of P77.4 million against a profit of P1.1 billion the year prior.

“We may have already seen the bottom of nickel ore prices for this year in the second quarter. The recent pledges from China to bolster their economy will provide a boost to their economic situation and will contribute to drive the demand for Indonesia's incremental nickel supply. The bright spot remains to be the positive electric vehicle (EV) adoption trend, which has remained strong. Furthermore, government policies globally are supportive of the EV industry, which is why we think the nickel sector will be well supported over the longterm,” said Martin Antonio G. Zamora, President and CEO.

Sagittarius Mines Inc. (SMI), the developer of the Tampakan copper-gold project in Mindanao, said it is ready to start construction in the fourth quarter of the year.

"SMI had secured all major approvals to develop and operate the Tampakan copper-gold project. We are ready to start construction in 2023 and produce our first copper concentrate in 2026," SMI external affairs and communications manager Roy Antonio said in a statement on Wednesday.

Antonio said SMI already commenced with early works which include land acquisition and access roads.

"These are pre-construction activities," he said.

Antonio said that for the first 10 years of its operations, Tampakan project is expected to contribute a total of PHP76.6 billion in national taxes, PHP4.8 billion in local taxes, and PHP6.6 billion in royalty for the Blaan indigenous people.

The project is also expected to employ around 2,500 workers during the three-year construction period and 1,000 employees during operations in over 40 years of mine life.

The proposed mine site covers an area of about 10,000 hectares and is located between the towns of Tampakan, South Cotabato and Kiblawan, Davao del Sur in southern Mindanao.

The Tampakan mine would be the largest in the Philippines and among the largest copper mines in the world.

"SMI has invested around PHP31 billion in developing the Tampakan copper-gold project and provided (even if not operating) PHP2.582 billion in national taxes, PHP38.780 million in local taxes and PHP1.4 billion in community and social development programs and activities," Antonio said.

Meanwhile, SMI announced that it recently obtained its 2023 business permit from the municipality of Tampakan.

In a separate statement, the mining firm said the business permit was issued after paying PHP24,579 in regulatory and other fees.

The Court of Tax Appeals earlier suspended the implementation of an order issued by the Regional Trial Court (RTC) of Koronadal City, South Cotabato, which upheld the bid of the municipality of Tampakan, South Cotabato to collect over PHP400 million alleged deficiency taxes from SMI. 

The Mines and Geosciences Bureau in the Caraga Region (MGB-13) has collected PHP2.14 billion in revenues from different mining companies operating in the region last year.

The revenues in the form of fees, charges, and royalties were indicated in the 2022 Caraga Mineral Profile provided by MGB-13 to the Philippine News Agency here Wednesday.

The data specified that PHP123.4 million was generated by the different local government units in the region that hosts the mining companies through local fees during the period.

“In 2022, the mining companies were able to contribute 9 percent share to the Gross Regional Domestic Products in the region in the amount of PHP27.36 billion,” MGB-13 said.

In terms of metallic and non-metallic mines, the total production value of the mining firms in the region last year was estimated at PHP85.2 billion.

The mining companies are operating in 1,310 barangays in 67 municipalities and six cities in Caraga's five provinces.

“These mining companies covered around 50,130.93 hectares or 2.33 percent of the 2,145,835 hectares of total land area in the Caraga Region,” MGB-13 said.

Of the total number of mining companies, 19 are engaged in metallic mining project operations; four are in mineral processing plant operations; three in industrial sand and gravel; one in a joint operating agreement; and another in a special mines permit.

Eight of the mining companies are operating in Dinagat Islands, six in Agusan del Norte, five in Surigao del Norte, five in Surigao del Sur, and four in Agusan del Sur.

The mining firms also allocated a PHP608.2 million budget for community development programs and services last year, especially for livelihood and education.

Some 10,108 scholars from the different communities in the region directly benefited from the community development allocations in 2022, the agency said.

The data also pointed out that PHP2.85 billion in funding was released by the mining companies for environment protection programs and services.

Around 18 million seedlings were also planted last year, covering some 10,584.08 hectares of reforestation sites in the region. By Alexander Lopez

Article courtesy of the Philippine News Agency

The mining industry in the Caraga Region will work jointly with the different government agencies, the local government units (LGUs) and other stakeholders to strengthen the resilience of communities against the threats of natural disasters.

The move is among the agenda of the weeklong Caraga Resilient Mining Week (CRMW) activity which formally opened on Monday (July 24) in Surigao City and was graced Assistant Secretary Nonita Caguioa of the Department of Environment and Natural Resources (DENR).

The CRMW was organized by the Mines and Geosciences Bureau in the Caraga Region (MGB-13) of the DENR in partnership with the Chamber of Mines of the Philippines and the Philippine Society of Mining Engineers.

“The weeklong activity will bring together nearly 30 stakeholders in the mining industry in the region, including government agencies, mining companies, industry organizations, youth groups, and LGUs working together towards a common goal,” MGB-13 Director Larry Heradez said in a statement Monday.

The gathering, Heradez said, aims to address challenges posed by disasters and climate change by joining forces of all the stakeholders in the mining industry by developing programs to reduce risks and enhance community resilience.

"This is an important moment for Caraga Region and the mining industry as a whole. With the Caraga Resilient Mining Week, we are taking proactive steps towards responsible mining practices, community well-being, and environmental sustainability," Heradez added.

Anchored on the theme “Responsible Mining – Pathway to Community Resilience,” the event will run until July 30.

Heradez said the CRMW seeks to present diverse programs to equip the participants with knowledge and tools to build a more resilient and sustainable community through knowledge-sharing sessions on disaster prevention and recovery.

“Focus discussions on promoting responsible mining investments and the prudent use of the nation's mineral resources are also part of the activity,” Heradez said.

Promotion of Caraga’s mineral wealth

In a separate statement on Monday, the Department of Tourism in the Caraga Region (DOT-13) lauded the MGB-13 and the other stakeholders in the mining industry for incorporating the promotion of the region’s tourism industries and local products.

“Exhibitors from all over Caraga, during the weeklong event, will showcase their exceptional local products ranging from intricately crafted indigenous handicrafts to delectable culinary delights that reflect the rich cultural diversity of the region,” DOT-13 said.

It added that the respective booths of the exhibitors will also serve as interactive information centers which will provide insights into the region’s abundant tourist attractions to the guests and visitors of the event. By Alexander Lopez

Article courtesy of the Philippine News Agency

Philex Mining Corporation, is one of the oldest and largest gold and copper producers in Southeast Asia, and a leader in right and principled mining. The Company generated an additional of Php314 million in core net income for 2Q2023, reporting a 1H2023 core net income of Php702 million. EBITDA of Php553 million for 2Q2023 increased 1H2023 EBITDA to Php1.188 billion.

Lower tonnage milled for 2Q2023 when compared to 2Q2022 levels resulted in the contraction of gold and copper output by 21% and 13%, respectively. Slight improvement in gold prices continue to mitigate the negative impact of the softening copper prices when compared to the same period in 2022. The combined negative effect of the lower metal production and softening of the copper prices was mitigated by the slight improvement in gold prices resulted to operating revenues of Php2.051 billion in 2Q2023, 17% lower than the Php2.485 billion for the same period in 2022 and 3% lower than the Php2.105 billion in 1Q2023. Realized gold price at US$1,937 per ounce in the second quarter was higher by 6% when compared to 2Q2022, while realized copper price at US$3.82 per pound was 7% lower when compared to 2Q2022. Prices for gold and copper for the first half of the year averaged at US$1,924 per ounce and US$3.91 per pound, respectively. Operating costs and expenses for 2Q2023 slightly increased by 2% to Php1.701 billion from Php1.663 billion in 2Q2022.

PRODUCTION

The Company milled a total of 1.825 million tonnes during 2Q2023, 7% higher than the 1.706 million tonnes milled in 1Q2023, but 2% lower than the 1.859 million tonnes in 2Q2022. Total tonnage milled for 1H2023 was at 3.531 million tonnes, lower by 4% than the 3.681 million tonnes in the same period last year, as the Company continues to address the unscheduled breakdowns of the ageing equipment at the mill plant. Ore grades for gold and copper for 2Q2023 declined by 14% and 7%, respectively, when compared to the same period in 2Q2022. Gold output for 2Q2023 was 10,300 ounces, higher by 2% than the 10,062 ounces of 1Q2023, but lower by 21% against the 13,116 ounces in 2Q2022. On the other hand, copper output for 2Q2023 at 5.642 million pounds was higher by 2% than the 5.531 million pounds of 1Q2023, but lower by 13% versus 6.461 million pounds in 2Q2022.

Total gold output for 1H2023 stood at 20,361 ounces while copper output was at 11.173 million pounds, lower by 19% and 12%, respectively when compared to the same period in 2022.

OPERATING EXPENSES

Operating costs and expenses for 2Q2023 at Php1.701 billion was higher than the same period in 2Q2022 at Php1.663 billion, despite lower tonnage milled. The continued implementation of efficiency measures in operations offset the increases in the purchase costs of the materials and supplies as well as equipment parts and repairs. Higher power costs, however, continued to increase operating costs and expenses despite lower production level.

Total operating costs and expenses for 1H2023 at Php3.338 billion was almost the same as the Php3.318 billion in 1H2022.

SILANGAN PROJECT

Despite the current challenges in Padcal mine operations, the Company is still on track with development works on the Silangan Project in Surigao del Norte. The construction of the east decline portal has been completed and the arrival of tunnelling equipment, such as low profile loaders, jumbo drill and accessories allowed for the commencement of tunnelling works as programmed. The ongoing tunnelling works is on its second month and is necessary for the development of the mine production levels as well as ventilation openings. The preparatory works, including permitting works for the tailings storage facility (“TSF”) is simultaneously being undertaken. More recently and in line with the project timelines, the tender documents for the construction of the process plant had been issued to potential contractors.

The Company is in the final stage of negotiation and documentation of the syndicated debt facility to complete the funding requirement of the Silangan project. The debt syndication is spearheaded by BDO Capital and Investment Corporation and targets to raise a minimum of US$100 million. This new credit facility completes the full funding requirement for the Silangan Project after the stock rights offering (SRO) last year and the capital infusion from the Company out of its cash reserves.

OUTLOOK

“Cautious optimism is still the name of the game,” according to Philex President and CEO Eulalio B. Austin Jr. “The first half of the year was challenging, no doubt, but we are still confident that, with the Silangan Project and other prospects in the pipeline, the situation would improve. We are all geared up for mining opportunities moving forward.”

Celsius Resources is pleased to announce that our Philippine subsidiary, Makilala Mining Company, Inc. (“MMCI or “the Company”), has been issued a Certificate of Approval for its Environmental Protection and Enhancement Program (“EPEP”) and Final Mine Rehabilitation and/or Decommissioning Plan (“FMRDP”) for its flagship Maalinao-Caigutan-Biyog Copper-Gold Project (“MCB” or “the Project”).

The issuance of the Certificate of Approval indicates that the Company has instituted the necessary environmental measures pursuant to the Philippine Mining Act of 1995 (“Philippine Mining Act”), and its Implementing Rules and Regulations or the Department of Environment and Natural Resources (DENR) Administrative Order No. 2010-2.

The issuance of the Certificate of Approval indicates the Company has instituted these environmental measures prior to the commencement of construction and mining operations, and that the Company has committed to environmental protection for the life of the mine.

Among the terms and conditions of the said certificate, is the establishment of a guarantee funding mechanism, collectively known as the Contingent Liability and Rehabilitation Fund, to ensure satisfactory compliance with the commitments and performance of the activities stipulated in the EPEP-FMRDP.

Under the Philippine Mining Act, applications for a mining permit shall be supported by an EPEP-FMRDP.

The EPEP is a comprehensive and strategic environmental management plan that serves as an operational link between the environmental management provisions of the Philippine Mining Act’s Implementing Rules and Regulations and the conditions stated in the Environmental Compliance
Certificate issued to the MCB project.

It contains contingency and emergency preparedness as well as environmental monitoring and implementation costs, while the FMRDP considers mine closure scenarios and remediation process, for returning the mine sites and affected area to viable and self-sustaining ecosystems, including cost estimates for its implementation.

Celsius Executive Chairman Atty. Julito R. Sarmiento, said: “We are grateful for the Philippine government regulatory bodies in the prompt review and approval of our environmental permitting requirements. In turn, we reiterate our firm adherence to and commitment to go beyond compliance with environmental laws in the development of the MCB Project.”

The approval of the EPEP-FMRDP is another step closer in the mine permitting process of obtaining a Mineral Production Sharing Agreement (MPSA) with the Philippine Government which the Company envisages receiving by the end of August 2023.

Nickel demand is expected to further increase, driven by the shift to smart cities and clean energy, but additional investments are needed to help the Philippine nickel industry take advantage of the global demand, the Philippine Nickel Industry Association (PNIA) said.

In a statement, the PNIA said raw nickel ore is not only a critical component of electric vehicle (EV) batteries but is also processed to create stainless steel, which is used in the development of megacities and renewable energy technology.

“Clean energy and smart cities cannot be realized without nickel as nickel has cross-cutting use in the development and manufacturing of various clean energy technologies, such as electric vehicles (EVs), solar panels, power grid systems, wind turbines, and new technologies, such as hydrogen-based energy,” PNIA president Dante Bravo said.

The total current value of investments in the global EV industry alone already amounts to USD300 billion and might even reach as high as USD1 trillion within the next five years, he said.

Demand for nickel will mainly be driven by China, he said, adding that the rollout of an infrastructure investment plan in the country would further boost demand for stainless steel.

Bravo, however, said to take advantage of this growing global demand, the Philippines needs to attract additional investments that would enable the exploration, processing, and further development of the country’s nickel reserves.

At present, the Philippines and Indonesia have substantial reserves to meet this global nickel demand.

“Currently, we only have 34 nickel mines, and production is typically influenced by global nickel supply and price. Production in 2022 is at 29.2 million dry metric tons. Meanwhile, Q1 (first quarter) 2023 production is at 3.9 million dry metric tons," he said. "We can expect significant growth in production if we start to attract investments in mining exploration and there is a clear viable track towards value-added processing.”

Bravo said the Philippines only has two successfully operating nickel processing plants.

To be considered viable, he said, a processing plant needs at least 100 million tons of raw nickel ore, hence, the need to further conduct exploration and feasibility research to determine nickel reserves.

“The industry needs a lot of support from the government, be more open to exploration, and make it easy for foreign investors to come in. We need to map out what we have and what we don’t have. Currently, we have the capability to mine nickel, but there is a whole value chain in value-added processing leading to the manufacturing of battery that needs to be enabled, guided by the right government policies and programs," Bravo said.

To accelerate the growth of mining and to shift towards value-added processing, PNIA is currently hosting policy discussions with government counterparts and stakeholders under its Nickel Initiative program.

Bravo said PNIA has so far conducted three roundtable discussions with different government agencies to make the local mining industry more competitive, attract more investments, and promote responsible mining.

“The discussions have been productive so far and we look forward to zooming in on action points that raise the competitiveness of the Philippine nickel mining sector and make it a veritable driver of responsible mining and inclusive economic development,” he said.

The roundtable discussions are set to be completed in August during the conduct of the Nickel Initiative 2023 Business Conference, which will be attended by government, private sector, and other non-government nickel industry stakeholders.

Photo: MGB Regional Office No. III

In line with the celebration of the 2023 World Environment Day, all Mines and Geosciences Bureau Regional Offices together with the mining companies in their jurisdictions join the simultaneous tree planting activities in the mined-out areas and clean-up of nearby river and coastal areas. The said activity aimed to plant endemic and native species as well as fruit trees in the mined-out areas and other areas outside the tenement.

In addition, the conduct of the said is in line with the Memorandum dated June 2, 2023 from the Office of the Undersecretary for Field Operations Luzon, Visayas and Environment and the Office of the Undersecretary for Field Operations Mindanao.

World Environment Day is observed annually every June 5^th of the year. It is a global event that aims to raise awareness and promote action for the protection and conservation of the environment. The celebration of World Environment Day was established by the United Nations General Assembly in 1972. Since then, World Environment Day has been celebrated in over 100 countries around the world.

Updates on the Simultaneous Tree Planting and Clean-up Activity of MGB Regional Offices and Mining Companies in connection with the celebration of 2023 World Environment Day.

The Board of RTG Mining Inc. is pleased to announce that the Company has received commitments to raise approximately A$14 million (circa US$9 million) in a private placement to institutional and sophisticated investors (“Private Placement”).

With the recent announcement of a prominent and successful new partner for the Mabilo Project in the Philippines the Private Placement received strong institutional support, demonstrating the considerable support for RTG’s high grade copper/gold/magnetite Mabilo Project and the Company’s other projects and opportunities.

The Private Placement will result in the issue of approximately 289.9 million Chess Depository Instruments (“Securities”) to be listed on the ASX at an issue price of A$0.048 per Security (“Issue Price”), representing a 7.7% discount to RTG’s last closing price on the ASX of A$0.052. The Company will also issue two (2) free attaching unlisted options for every three (3) Securities issued pursuant to the Placement (exercisable at 7.5c with a 12 month expiry from the date of issue) (“Attaching Options”).

Net proceeds of the Private Placement will be used to continue to advance the Mabilo Project towards start-up, the first phase being a Direct Shipping Operation as well progress plans for additional exploration at the Mabilo Project, exploration plans at the Company’s Chanach Copper and Gold Project in the Kyrgyz Republic, continue the pursuit of new potential business development opportunities, including the Panguna Project in the Autonomous Region of Bougainville, repayment of the US$0.5 million Corporate Loan Facility together with any interest and general working capital purposes.

Placement Details

The Private Placement consists of 289.9 million new Securities to be issued at the Issue Price of A$0.048 per Security to raise total funds of circa A$14 million. The first tranche of approximately 208.9 million Securities are expected to be issued on or around 12 July 2023 under the Company's ASX placement capacity, comprising the issue of:

• 125,808,218 Securities using the Company's 15% placement capacity under ASX Listing Rule 7.1 to raise ~A$6 million (before costs); and
• 83,084,972 Securities using the Company's 10% placement capacity under ASX Listing Rule 7.1A to raise ~A$4 million (before costs).

The balance of the Private Placement (~81 million Securities) relates to:

• subject to receiving shareholder approval under ASX Listing Rule 10.11.1, the issue of up to 3.6 million Securities to the RTG Directors; and
• subject to receiving shareholder approval under ASX Listing Rule 7.1, the issue of a total of up to 77.4 million Securities to the Company’s substantial shareholders, Equinox Partners and a portion of the Hains Family subscription. Equinox Partners and the Hains Family have committed to subscribe for 57.5 million and 19.9 million Securities respectively in respect of Tranche 2. The participation by Equinox Partners and the Hains Family are expected to result in those shareholders holding a 19.7% and 18.3% interest in RTG respectively.

Shareholder approval under ASX Listing Rule 7.1 will also be sought at the General Meeting for the issue of the Attaching Options described above.

Details relating to the issue of these securities will be set out in a Notice of Meeting to be sent to shareholders in due course.

The Private Placement will be conducted under exemptions from prospectus and registration requirements of securities laws in relevant countries. The Private Placement is subject to approval of TSX.

Euroz Hartleys and Foster Stockbroking, together with INTE Securities LLC and M2- Advisors (the “Agents”), acted as Joint Lead Managers to the Private Placement.

ABOUT RTG MINING INC

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently focused primarily on progressing the Mabilo Project to start-up having now received a mining permit for the Project, with a view to moving quickly and safely to a producing gold and copper company.

RTG also has a number of exciting new opportunities including the Panguna Project in Bougainville, which it remains committed to while also considering further new business development opportunities.

RTG has an experienced management team which has to date developed seven mines in five different countries, including being responsible for the development of the Masbate Gold Mine in the Philippines through CGA Mining Limited. RTG has some of the most respected international institutional investors as shareholders including Franklin Templeton, Equinox Partners and Sun Valley.

Listed Global Ferronickel Holdings, Inc. (FNI) remains bullish about the outlook for the nickel industry as it aims to expand its business to take advantage of the higher demand for nickel. 

"Certainly, the outlook for the nickel industry remains compelling. On the demand side, we see tremendous opportunities from many trends that will shape the world," said FNI president Dante Bravo during the company's annual stockholders meeting on Thursday.

Bravo said growth of the industry will mostly be driven by the urbanization of mega cities and energy transition.

"As you know, more people now live in cities than in rural areas and this is set to continue and while income and population growth have long been the key determinants of commodity demand, including nickel, evidence shows that urbanization can be very important for commodity consumption over the next 30 years, especially in emerging markets and developing economies," he said.

Bravo said the further reopening of China's economy and its infrastructure investment plan will also boost the demand for stainless steel.

In terms of energy transition, Bravo said nickel was earlier identified by the World Bank as one of the critical minerals in the clean energy transition.

"Importantly, nickel is considered cross cutting because it is used in a variety of technologies and is not dependent on a single application," he said.

In the medium to long-term, nickel demand is projected to grow further due to its wide range of applications in renewable energy technologies and critical infrastructure including electric vehicles, solar panels, power grid systems, wind turbines, and new technologies such as hydrogen-based energy.

Bravo said the Philippines and Indonesia will continue to be top nickel producing countries.

To take advantage of these opportunities, FNI plans to expand its nickel resource by investing in exploration and development activities to ensure a sustainable supply for future operations.

The company also plans to venture into value-added processing which include the establishment of a ferronickel processing plant, nickel matte processing, battery-grade nickel plant, and steel plant.

"The establishment of a battery grade nickel plant and a steel plant signifies the company's commitment to capitalizing on emerging opportunities in the electric vehicle and infrastructure sectors," Bravo said.

Aside from these, FNI is likewise looking to expand its logistics business in Mariveles, Bataan and venturing into cement manufacturing.

"This involves the production of limestone, clinker, and other key materials used in the cement industry. This enables the company to tap in the construction and infrastructure sectors, which offer significant growth potential," Bravo added.

FNI's subsidiaries include Platinum Group Metals Corporation (PGMC), Surigao Integrated Resources Corporation, PGMC-CNEP Shipping Services Corp., and PGMC International Limited.

Article courtesy of the Philippine News Agency

Figure 2. The location of the Botilao tenement with respect to the MCB Tenement. The Pasil River Fault which is the mineralisation control for the MCB Deposit extends towards the Botilao Prospect.

Celsius Resources Limited is pleased to announce that a secondary tenement, the Botilao Porphyry Copper-Gold Prospect under its Philippine subsidiary, Makilala Mining Company, Inc. (MMCI) which is located beside the MCB project will be explored to complement the development of the area with a potential to extend the operational mine life. The Mines and Geosciences Bureau has confirmed that all documentary requirements have been satisfied, which will allow the permit issuance upon the clearance of signatories which is anticipated in the coming weeks.

Celsius Executive Chairman Atty. Julito R. Sarmiento, said: “This is another opportunity for Celsius to explore and develop our portfolio of copper-gold assets in the Philippines. We appreciate the trust of the Marcos Jr.’s Administration in the Company’s commitment to build responsible and transformative mining projects that goes beyond regulatory compliances. This tenement could add significant value and complement the Maalinao-Caigutan-Biyog (“MCB”) Copper-Gold Project, given its location and porphyry Cu-Au mineralisation within the area.”

BOTILAO PORPHYRY COPPER-GOLD PROSPECT

Botilao is located in the Cordillera Administrative Region in the Philippines, approximately 320km north of Manila (Figure 1). It is a prospect within the Makilala portfolio with a tenement area of 947.67 hectares, southwest of the MCB Project.

Drilling was previously conducted by Lepanto Exploration Asia in the ‘70s which determined the presence of copper-gold mineralisation in the area.

Botilao is along the same northeast structure which is a major control of the porphyry Cu-Au mineralisation in the MCB Project that will provide the initial working model for the Botilao Prospect (Figure 2).

The proposed initial two-year exploration work program aims to define the extent and distribution of the observed mineralisation along Botilao Creek. Activities will consist of regional to semi-detailed geochemical sampling and mapping to generate future targets for possible geophysical surveys and eventual diamond drilling activities.

Mapping of different rock types or lithologies in the area will be conducted to characterise and delineate mineralised or altered zones.

Detailed mapping will focus on identified mineralised outcrops to ensure proper understanding of the classification and controls of mineralisation.

Article courtesy of Celsius Resources

By Mae Ann Cabasag, EM - Part 2: MOM Operational Control & Assets Performance Domains DIGITAL TRANSFORMATION is vital for mining companies to mitigate challenges caused by "poor visibility" in mining operations. Dassault Systèmes MINE OPERATIONS MANAGEMENT (MOM) utilizes real-ti...

Sagittarius Mines, Inc. (SMI) warmly welcomed the appointment of its Chairman of the Board, Atty. Gilberto "Gibo" Teodoro, Jr., as Secretary of the Department of National Defense in the PBBM Administration.

President Ferdinand Marcos, Jr. on Tuesday, June 6, administered the oath of office to Secretary Teodoro in an official ceremony held at Malacañan Palace in Manila.

Teodoro served as Chairman of the Board of Sagittarius Mines, Inc. (SMI) from 2015 up to his appointment and led the Company in achieving critical milestones for the Tampakan Copper-Gold Project, putting it in a ready position to construct and operate as soon as possible.

The SMI Board’s total investment in the project reached about PhP32 billion, with PhP3 billion paid in national and local taxes and about PhP1.3 billion provided to the local communities for development programs and activities focused on education, infrastructure and access to health.

Through his leadership, SMI successfully undertook in 2018 a comprehensive study for a phased approach to the development of the Tampakan Project, secured in 2019 the approval of its Declaration of Mine Project Feasibility and obtained in 2020 a Certification Precondition from the National Commission on Indigenous Peoples for the Free and Prior Informed Consent (FPIC) agreement between the company and Tampakan Project’s 11 Indigenous Cultural Communities to develop the untapped minerals within their ancestral land. 

During his term, SMI was able to continue its Early Works site development activities such as geotechnical / hydrogeological drillings for its planned facilities, repair/rehab of main access roads, operationalization of SMI Basecamp, construction of its Mindanao Administration Office, and secured its port facility in General Santos City. 

Secretary Teodoro had served as the secretary of the Department of National Defense from 2007 to 2009 and the Representative of the First District of Tarlac from 1998 to 2007.

He completed his law degree at the University of the Philippines (UP), graduated at the top of his class and was the Philippine Bar topnotcher in 1989. He also has a Master of Laws degree from Harvard Law School.

Teodoro was recognized as a Leadership Awardee and Seminar Academic Excellence Awardee after completing the Philippine Air Force’s Air Command and Staff Course in 2001.