Figure 1: Location of the MCB Project in the Province of Kalinga, Northern Luzon, Philippines.

Celsius Resources Limited (“Celsius” or “the Company”) is pleased to announce that its Philippine subsidiary, Makilala Mining Company, Inc. (“MMCI”) has received priority project status for the Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project (“MCB” or “the Project”) from the the Mines and Geosciences Bureau (MGB) Director Atty. Wilfredo G. Moncano in a meeting on 18 February 2022.

MMCI’s management and technical staff presented the outcomes of the scoping study completed in December 2021i as part of the declaration of mine feasibility permitting process.

The MGB Officials were pleased with the progress of the project and appreciative of the social and environmental factors integrated into the mine design. The use of paste backfill underground, along with dry stacking of the mine tailings replacing the need for a tailings dam, greatly mitigated the downstream agricultural communities’ concerns as they had witnessed adverse environmental impacts back when the adjacent Batong Buhay Mine was in operations. The MGB officials also commended MMCI Team for their determination to move the project forward despite the most challenging conditions brought about by the COVID-19 pandemic and expressed their support to see the project through to operations.

At the conclusion of the presentation Dir. Moncano announced:, “This project has significant potential, we will endorse it as a priority project to fast-track government approvals.”

Several activities are currently underway to support the application for the Declaration of Mine Project Feasibility and Mineral Production Sharing Agreement (MPSA) as the project proceeds through the various approval phases.

MCB COPPER-GOLD PROJECT

The MCB Copper-Gold Project (MCB) is located in the Cordillera Administrative Region in the Philippines, approximately 320 kilometers north of Manila (Figure 1). It is the flagship project within the Makilala portfolio which also contains other key prospects in the pipeline for permit renewal/extension.

A maiden JORC compliant Mineral Resource Estimate was declared for the MCB Project in January 2021, comprising 314 million tonnes @ 0.48% copper and 0.15 g/t gold, for 1.5 million tonnes of contained copper and 1.47 million ounces of gold, of which 290.3 million tonnes @ 0.48% copper and 0.15 g/t gold is classified as Indicated and 23.5 million tonnes @ 0.48% copper and 0.10 g/t gold is classified as Inferred.

A Scoping Study for the MCB Project was announced by CLA on 1 December 2021, which identified a post tax NPV8 of US$464M, IRR 33% and Capex of US$253M with a 25 year mine life. The scoping study was based on an underground sub level stoping operation of the high grade core of 49 million tonnes @0.85% copper and 0.41 g/t gold and processing facility to produce a saleable copper-gold concentrate.

Article courtesy of Celsius Resources

For the past six years of operations as a drilling contractor at the Masbate Gold Project (MGP), Quest Exploration Drilling (Philippines), Inc. has reached its goal of 1,000,152 safe manhours with 2,141 days without lost time injury (LTI) as of the day shift of November 12, 2021.

The team has drilled over one million meters during this period.

With an excellent commitment to safety and productive performance, QED started its RC in-pit grade control operations at the mine site in Aroroy, Masbate with a contract signed with MGP’s owner, Filminera Resources Corporation, in 2013.

QED’s achievement is the result of obeying established safety management systems and guiding principles.

In an interview with the Philippine Resources Journal, Wayne Smith, QED’s contract manager at the site, revealed detailed insights behind their safety performance.

Smith explained that team in Masbate has been working together in the past nine years.

“Our Masbate operations is basically run by a close team. We train and grow our employee’s knowledge on safety at work and at home to prevent incidents at all times. This process starts from Day 1 of their employment with QED,” Smith said.

Describing QED’s Safety Culture

At QED, everyone understands that a safe operation comes with hard work. Having the need to create a safe work culture requires effort from all team members. Through the commitment of the management, supervisors, and site safety personnel, coaching and mentoring became an integral part of daily routine for the Masbate team.

“We have to refresh and remind employee’s all the time to continue with our safety culture to make sure we all go home safely each day from work. The same mindset applies with safety outside of work as well,” Smith explained.

The pandemic has extended safety protocols to the households of each member of the Masbate team. Like in the past, the management has constantly reminded employees to practice what they learned from their training when they are at home, especially during occasions like Christmas breaks where people tend to lower their guard against unsafe practices.

This part of the QED team’s “safety culture” has made dealing with COVID-19 easier. To prevent virus contamination, the movement of people from their homes to the workplace must be regulated. Getting used to safety discipline while at home contributed well to the adaptation process.

Systems-based Approach

Safety as a science is basically a system of establishing control measures. To implement such controls, the team uses a systems-based approach to manage training and to effectively run safety meetings and pre-task risk assessments. The system also includes communicating safe working procedures, inspections, and auditing processes.

“Without these systems being in place, which gives a structure to the relationship between us (as the contractor) and the client, we would not have the control measures in place to prevent accidents from occurring,” Smith said.

With over 50 people on board, QED’s Masbate team has been honed in the last nine years to face a long mine life. “Doing the things we have been taught to do” is a mantra for everyone in the QED management and workforce.

Smith observed that a key element in their success is cultivating professional honesty among each team member. Training won’t work if some people still have the tendency to cover up mistakes, he said.

“If you made a mistake and failed to report or concealed your actions, how would we fix it?” Smith often ask his team.

Maintaining an open communication line between and among members of the team allows the reporting system to smoothly flow.

On the positive side, initiatives that add value to everyday safety performance was not left out. Smith said motivations like giving commendations and rewards is also part of their organizational system.

Photo: Oil Refinery

Philippine Economic Zone Authority (PEZA) director general Charito Plaza has invited oil companies in the United Arab Emirates (UAE) to build and operate oil refineries in the country.

During the Global Biz with PEZA featuring the United Arab Emirates held in Dubai Tuesday, Plaza said oil companies based in the UAE can look into opportunities in making the Philippines its hub in the Southeast Asian region.

“We seek your help to talk with big oil companies here in UAE as we attract them to locate in our island refinery ecozones, so to bring their oil deposits, stock it in the Philippines and have it refined there,” she said.

Plaza added UAE firms can take advantage of the ease of doing business as PEZA offers a one-stop shop for processing investments within ecozones and enjoying fiscal incentives and lower corporate income tax rate with the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law.

Island refinery ecozone is a new type of ecozone that PEZA is pursuing to help the country secure petroleum needs and lessen its vulnerability from oil supply and price disruptions in the world market.

UAE is one of the biggest oil and gas producers in the world with a daily average production of 3 million barrels of petroleum and oil reserves of 100 billion barrels. 

One-third of its economy depends on its oil and gas industry.

Aside from setting up oil refinery ecozones, Plaza said UAE companies may also explore opportunities in establishing halal ecozones, as well as Islamic banking in the Philippines.

She said there are only six locators from the UAE in PEZA zones with total investments amounting to PHP383 million and employing 1,049 personnel. By Kris Crismundo

Article courtesy of the Philippine News Agency

Photo credit: Atlas Consolidated Mining and Development Corporation

The Australia Philippine Business Council (APBC) said the impacts of lifting the open-pit mining ban will spill over to other industries like manufacturing.

In a statement, APBC said the decision of the government to lift the moratorium will revitalize the mining industry, usher in the country’s manufacturing resurgence, and boost investors’ confidence in the Philippines.

“The Philippines lifted a four-year-old ban on open-pit mining for copper, gold, silver, and complex ores in December 2021. This followed scrubbing of the 2012 moratorium on new mining agreements seven months earlier. These developments are expected to usher in significant benefits to the economy including manufacturing resurgence, and step up investor confidence,” APBC said.

APBC president Rene Cabrera added that with the lifting of the moratorium, the Philippines and Australia can further strengthen partnerships in the mining sector.

“Mining is one industry that truly highlights the complementarity between Australia and the Philippines. The Philippines has vast untapped natural resources; Australia is a global expert in minerals development and production underpinned by responsible mining practices sought by the Philippine government and community. The potential for rewarding opportunities has always been there,” Cabrera said.

APBC special advisor and former chair of OceanaGold Philippines Jose Leviste Jr. said Australian firms are “well-placed to capitalize on these developments” in the Philippine mining industry.

“The areas of opportunity include mineral exploration, mining equipment supply, engineering services, specialist software, and industry education and training,” Leviste added.

APBC said the prospects in the mining industry remain largely untapped, noting that the country has an estimated USD1.3 trillion worth of mineral resources.

The copper industry is one of the five key sectors under the Department of Trade and Industry’s (DTI) Make It Happen in the Philippines investment campaign, the country having the fourth largest copper reserves in the world.

The DTI aims to attract foreign companies to invest in integrated facilities—from extraction to manufacturing of high-value copper products. By Kris Crismundo

Article courtesy of the Philippine News Agency

Photo credit: Department of Trade and Industry - Philippine Trade Secretary Ramon Lopez and UAE Minister of State Ahmed Ali Al Sayegh

Construction companies in the United Arab Emirates (UAE) are “very interested” to participate in the 'Build, Build, Build' infrastructure program despite the term of President Rodrigo Duterte will end mid-2022.

In a radio interview on Wednesday evening, Department of Trade and Industry (DTI) Secretary Ramon Lopez said he is confident that the 'Build, Build, Build' program will be continued in the next administration, thus, foreign investors remain confident to invest in the construction industry.

“We told them that many presidentiables are saying that Build Build Build will be their platform also. That’s why they can expect that this program will continue as they have seen the success of the Build Build Build under the administration of President Duterte,” he added.

Lopez was in Dubai for an official trip as he graced the Philippines’ National Day at the Expo 2020 Dubai.

He also met with high-level officials from the UAE, where they have concluded agreements to further strengthen the economic ties between the two countries.

One of the results of the trip is the conclusion of the Investment Promotion and Protection Agreement (IPPA) to facilitate investment flow between the Philippines and UAE.

Lopez said that with the conclusion of the IPPA, the next step for the two countries will be the signing of the agreement.

The DTI chief added that through the IPPA, the Philippines aims to get a good share of investments from the Middle East country as it has a sovereign wealth fund of around USD1.3 trillion. By Kris Crismundo

Article courtesy of the Philippine News Agency

Photo credit: Department of Public Works and Highways

President Rodrigo Roa Duterte formally opened Tuesday, February 15, 2022 the elevated extension of South Luzon Expressway (SLEX) northbound entry connected to Skyway system in Alabang, Muntinlupa City.

During the inauguration, President Duterte lauded the successful partnership of the Department of Public Works and Highways (DPWH) and concessionaire San Miguel Corporation (SMC) and Citra Metro Manila Tollway Corporation, for the timely completion of the project despite the challenges posed by the pandemic.

The Sucat-Alabang Skyway Extension now offers a travel time of 30 minutes from two (2) hours between Muntinlupa City to Balintawak, Quezon City, addressing traffic congestion in SLEX and Skyway.

During the ceremony, DPWH Senior Undersecretary Rafael C. Yabut delivered the welcome remarks in behalf of Acting Secretary Roger G. Mercado while SMC President and Chief Executive Officer Ramon S. Ang explained the overall project impact.

The event was also attended by Senator Christopher Lawrence Go, Transportation Secretary Arthur Tugade, DPWH Undersecretary Roberto Bernardo and Assistant Secretary Wilfredo Mallari, and other officials.

The project will reduce time spent on roads by motorists travelling to Laguna and Southern Luzon.

The formal opening of the SLEX Elevated Extension provided motorists direct access to and from the elevated Skyway from Susana Heights to Sucat, Parañaque and vice versa, significantly easing at-grade traffic.

The project can accomodate 200,000 vehicles per day and complete the seamless connectivity between SLEX, Skyway, and North Luzon Expressway for faster and more efficient travel, transport of goods, and trade throughout Metro Manila and the provinces.

Article courtesy of the Department of Public Works and Highways

Photo credit: Philippine National Oil Company

The Department of Energy (DOE) is reviewing the terms of reference (TOR) for the public bidding of consultancy services to do the feasibility study as the government aims its own oil reserve operation.

During the Laging Handa briefing Wednesday, DOE Assistant Director Rodela Romero said after the failed bidding in getting an adviser to do a study on the establishment of Strategic Petroleum Reserve (SPR), the agency still targets to finish the study before the end of the Duterte administration.

In September last year, the Philippine National Oil Company (PNOC) said it aims the establishment of SPR that will involve crude oil and petroleum importation, storage, and distribution facilities within and outside the country.

Romero said the SPR program is a long-term plan and an oil contingency plan that aims to lessen the country’s vulnerability from the impact of supply and price disruptions in the world market.

“So (it is an) assurance that we will be able to build the said strategic petroleum reserve through proper analysis, wherein the government will not incur any losses,” she said in Filipino.

A few months after the onset of the pandemic, DOE Secretary Alfonso Cusi expressed his intention to build a stockpile of oil to take advantage of low prices of fuel products then, which plummeted below USD20 a barrel.

The government aims to buy oil when prices are low, stock it, and use it for domestic consumption when prices are rising.

This could be a solution to the present oil price woes, in which prices have been increasing for seven straight weeks now.

In a statement last week, senatorial bet and former defense secretary Gilbert “Gibo” Teodoro called on the DOE and the PNOC to fast-track the national oil stockpiling program and be more proactive on energy issues.

Moreover, Romero said the DOE has proposed to Congress to give authority to the agency to put up the SPR, “whether commercial or strategic”, to address impacts of oil supply and price disruptions. By Kris Crismundo

Article courtesy of the Philippine News Agency

Philex Mining Corp., one of the country’s largest producers of copper and gold, said recently it plans to prolong the life of its underground mine in Padcal, Benguet, potentially overlapping with the start of the commercial production of its Silangan mine in Mindanao by 2025.

The decision to extend Padcal’s mine life beyond 2024 will depend on the study of the remaining mineable reserve, favorable price of copper and gold, cost of producing the metals moving forward and obtaining the required government permits, the company said.

“Studies are ongoing. The extension of Padcal’s operation will be dependent on the study of the remaining mineable reserve, favorable price of copper and gold, as well as cost of producing the metals moving forward and obtaining the required government permits. If prices hold on to the levels where they are now, which we consider high, then there is a possibility of extension,” said Philex president and chief executive Eulalio Austin Jr.

Padcal, where copper and gold, were extracted beginning 1958, is scheduled to cease operation by the end of 2024 after several extensions of its mine life.

Philex said it would begin the development of a starter mine in Silangan in Surigao del Norte this year. The copper and gold mine will start commercial operation by early 2025, limiting any major impact to Philex’s income flow even if Padcal ceases operation as scheduled in 2024.

An overlap in Padcal and Silangan’s operation could bolster Philex income stream, officials said.

Philex said it secured all regulatory approvals for Silangan, including the nod of the local government units, indigenous people and the Department of Environment and Natural Resources. The mineral production sharing agreement, which was scheduled to expire in 2024, was also extended by the full 25-year term or up to 2049.

An initial investment of $224 million is needed to develop a starter mine that will produce around 2,000 metric tons of ore per day. Production, under the current development plan, will be ramped up to 12,000 MT a day or 4 million MT annually by the 12th year. With Jenniffer B. Austria

Philex estimated total investment, including spending to operate and maintain the mine, would reach $1.5 billion over its 28-year-mine life. It is also expected to generate thousands of jobs, particularly in Surigao del Norte towns of Placer, Tubod, Tagana-an and Sison, and contribute billions of pesos in taxes to both the local government units and the national government. by Othel V. Campos

Article courtesy of the Manila Standard 

Photo credit: Department of Public Works and Highways

Department of Public Works and Highways (DPWH) Secretary Roger G. Mercado declared that Binondo - Intramuros Bridge Project is the next flagship infrastructure project of DPWH - Unified Project Management Office (UPMO) Operations that will be completed soon.

In his report to Secretary Mercado, Undersecretary for UPMO Operations Emil K. Sadain said that works at the Binondo Intramuros Bridge Project are progressing well and on track for the planned opening this 2022 Holy Week.

“At 92 percent, we are rushing to finish the soon to be one of newest landmarks in Manila with its iconic basket-handle tied steel arch" said Undersecretary Sadain.

Undersecretary Sadain, Chief Implementer of flagship infrastructure projects under Build Build Build program, inspected the on-going bridge construction on Thursday, February 10, 2022 with Project Director Benjamin A. Bautista and Project Manager Melchor Kabiling of DPWH UPMO Roads Management Cluster 1 and reminded anew the contractor, China Road and Bridge Corporation, of the project’s target opening.

Completing the up and down ramps at Binondo and Intramuros has been a priority.

The ramps at Binondo side are located at Muelle dela Industria Street for up-ramp and at Rentas Street and Plaza del Conde Street for down-ramp.

Also on-going are the construction of ramps at Intramuros side with up-ramp at Riverside Drive and down-ramp at Solana Street.

Just like the steel arch main bridge, the girders of the ramps are made of fabricated steel members done internationally in Shanghai delivered in the Philippines in several delayed shipments because of the pandemic.

By March, the contractor will begin the final retouching of the steel arch bridge and asphalt will be laid on the concrete slab so we are hoping for continued good weather, added Undersecretary Sadain.

The ₱3.39 Billion project is financed by a government aid grant from the People’s Republic of China.

Under similar grant, DPWH UPMO has completed in 2021 the new Estrella - Pantaleon Bridge included in the Metro Manila Logistics Network connecting the cities of Mandaluyong and Makati.

The project supports the traffic decongestion program of the President Rodrigo Roa Duterte administration.

Article courtesy of the Department of Public Works and Highways

The Philippine delegation for Expo 2020 Dubai conducted meetings with top government and business officials of the United Arab Emirates (UAE) and discussed ways to strengthen trade, investments, and economic relations.

Department of Public Works and Highways (DPWH) Secretary Roger G. Mercado took the Expo 2020 Dubai where prolific business opportunities are forged as an opportunity for the Philippines to present on the world stage, the resounding development of Philippine infrastructure.

Philippine delegation that arrived in Dubai, UAE are led by Trade and Industry Secretary Ramon Lopez and Presidential Communications Secretary Martin Andanar.

In their visit to Dubai, Secretary Mercado as part of the Philippine delegation also participated in high-level meetings with prominent UAE government and business leaders.

Secretary Mercado showcased the Philippines massive infrastructure development turn into a tangible reality under the President Rodrigo Roa Duterte administration and encouraged the UAE government and business leaders to explore possible points of investment collaboration on Build Build Build infrastructure program that will further strengthen the Philippines-United Arab Emirates bilateral relations.

The Philippines is an active participant to the World Expo 2020 hosted by Dubai, UAE through the pavilion named Bangkóta, the ancient term for “coral reef”, that presents contemporary expressions in architecture, art, and design that links the deep past with the future of connectivity for the Filipino.

The Philippine pavilion at Expo 2020 Dubai proves to be an excellent showcase of the country’s rich history and heritage, presenting as well the modern Filipinos of the present, and the future.

World Expo 2020 Dubai opened on the last quarter of 2021 and will last until end of March 2022.

Secretary Mercado on Saturday, February 12, 2022 is expected to address the Dubai International Conference of the United Architects of the Philippines (UAP) – Dubai Chapter.

The UAP has established itself as one of the finest associations in the Philippines, demonstrating not only prowess, but also resolve in cultivating unity within the architecture profession not only locally in the country but also internationally like in Dubai, United Arab Emirates.

Photo credit: Mining Journal - Gerard Bond

OceanaGold Corporation is pleased to announce the appointment of Mr. Gerard Bond as the Company’s new President and Chief Executive Officer effective April 4, 2022. Mr. Bond will also serve as a member of the Board of Directors.

Mr. Paul Benson, Chairman of the Board, said, “On behalf of the Board of OceanaGold, I would like to extend a warm welcome to Gerard. Following an extensive executive search, we are pleased to have attracted such an accomplished and recognised executive to lead OceanaGold forward. Gerard has demonstrated strong leadership during his career, brings a wealth of commercial and industry experience and has a proven track record of driving performance and delivering on business potential. This appointment marks an exciting new chapter for OceanaGold and the Board is looking forward to working with him to maximise the value of the Company.”

Mr. Bond has extensive experience in global finance and the resources industry and has held numerous senior executive roles across Europe and Australia. Most recently, he was the Finance Director and Chief Financial Officer at Newcrest Mining Limited from January 2012 to January 2022, a period of considerable operational, financial and growth transformation. Prior to joining Newcrest, Mr. Bond was with BHP for over 14 years where he held various senior executive roles in Mergers and Acquisitions, Treasury, as Deputy CFO of the Aluminium business, CFO and then Acting President of the Nickel business, and finally as BHP’s Head of Group Human Resources. Prior to joining BHP, Mr. Bond worked in Corporate Finance for Coopers & Lybrand.

Mr. Bond said, “I am honoured and delighted to join OceanaGold as President and CEO. The Company has an exciting portfolio of assets and growth opportunities. I look forward to working closely with the Board, the leadership team and the workforce to safely and responsibly drive improved operating and financial performance, realise the full potential of the Company’s growth opportunities and to maximise value and returns to shareholders.”

Mr. Scott Sullivan will continue as Acting President and CEO until Mr. Bond’s commencement on April 4, 2022, following which he will revert to his role as Chief Operating Officer and support the leadership transition. Mr Benson added, “The Board wishes to express its sincere gratitude to Scott for serving as our Acting CEO during a challenging period for the Company. Through his extensive technical experience and that of the technical bench strength that now exists in the Company along with Gerard’s appointment as CEO, we are well placed to deliver on our commitments and regain our favoured market position.”

Article courtesy of OceanaGold

Authorities are optimistic for the implementation of most infrastructure projects proposed under the government’s "Build, Build, Build" program after noting the project’s long-term impact on the economy.

In a virtual briefing hosted by the Presidential Communications Operations Office (PCOO) on Tuesday, Department of Public Works and Highways (DPWH) Undersecretary Emil K. Sadain said 18 of the 112 infrastructure flagship projects (IFPs) would be completed by June this year, or at the end of the Duterte administration.

He said 12 additional projects are targeted to be completed by end-2022 while 89 are scheduled for implementation by 2023 and be completed in the next six years.

These projects cost around PHP6.65 trillion and have an investment requirement of around PHP3.12 trillion.

He is hopeful that the next administration will continue with the implementation of the remaining projects “since most of these projects have been properly reviewed by the NEDA-ICC (National Economic and Development Authority-Investment Coordination Committee) Board and it went through a process.”

“And most of these are actually yielding a high impact economic analysis. The national return is so huge,” he said.

Sadain also pointed out that “there’s no way the next administration will shelve most of these projects but instead may be look at it and revisit. “

“We have seen also that the viability of implementing these projects are so strong because of the huge economic impact that will be brought to the country. We believe that these can be sustained by the next administration,” he said.

Sadain said the big-ticket inter-island projects under the Build, Build, Build include the Bataan-Cavite Interlink Bridge, the Panglao-Tagbilaran City Offshore Connector, Guicam Bridge, 3 Tawi-Tawi Bridges, the Panay-Guimaras-Negros Link Bridge, Cebu-Mactan Bridge and Coastal [Road Construction], Panguil Bay Bridge, and the Samal Island-Davao City Connector.

For Department of Transportation, he said the projects “of high importance” is the North Commuter Railway and Metro Manila Subway.

He also mentioned the Wawa Bulk Water Supply Project of the Metropolitan Waterworks and Sewerage System, the Jalaur River Multipurpose Project Stage 2.

During the same event, NEDA Undersecretary Roderick M. Planta said the NEDA-ICC-approved IFPs that are ongoing have the basic principle “that the benefits outweigh the cost.”

“So, we think that we could make a case for making the next administration see the benefit of continuing its implementation,” he said.

He also made an appeal for the next administration to continue with infrastructure development build up because of the big gap in the country.

Photo credit: Shell

President Rodrigo Duterte on Friday slammed the Senate resolution recommending charges against Department of Energy (DOE) Secretary Alfonso Cusi and other officials over the approval of what lawmakers alleged was an anomalous sale of shares in the Malampaya gas field.

In a statement, Duterte expressed "grave concern" over the Senate's adoption of the resolution, as it casts "undue, undeserved, and unwarranted aspersion" on key DOE officials.

"The government values the critical role and contribution of the Malampaya Gas Field to energy security. I will not allow this valuable resource to be jeopardized and embroiled in the political antics of some members of the Senate," he said.

Duterte affirmed that Cusi still has his full trust and confidence, and shall remain as the head of the energy department.

He maintained that the national interest has been protected and the government's rights remain intact amid the developments involving the share sale and purchase agreement.

"I am calling on our legislators to ensure that our ability to compete is not jeopardized by political intrigues and innuendoes. Leave business transactions in the capable hands of the business sector. Let us respect their business decisions while we protect our national interests," Duterte said.

The resolution, penned by Senator Sherwin Gatchalian, recommends the filing of criminal and administrative charges before the Office of the Ombudsman and the Civil Service Commission against Cusi and other DOE officials for approving and recommending approval of the Chevron Philippines-UC Malampaya transaction.

Gatchalian said the officials violated laws for allegedly railroading the approval to the sale of the 45-percent participating interest in the Malampaya gas project of Chevron Malampaya LLC Philippines, now known as UC 38 LLC, to UC Malampaya, an indirect subsidiary of Udenna Corporation, despite the lack of financial qualification.

Duterte, however, said that the sale and purchase of the stock of Chevron Malampaya LLC was a private transaction between private entities that must be respected.

He also reiterated that both foreign and local investments are "vital" to the economy.

"We compete for them with other countries, and our ability to do so requires me to create and maintain an environment conducive to the entry of investors," he said.

Duterte said that while he recognizes the Senate's power to conduct congressional probes in aid of legislation, this should be exercised "with prudence and circumspection, devoid of reckless accusations, and focused on improving existing laws". By Filane Mikee Cervantes

Article courtesy of the Philippine News Agency

Photo credit: Transportation Secretary Arthur Tugade (3rd from left) leads the ribbon-cutting ceremony of the Light Rail Transit Line 1 (LRT-1) Cavite Extension Phase 1 viaduct on Monday (Feb. 7, 2022). To date, Phase 1 of the project is 67.5 percent complete and is expected to be done by late 2024 or early 2025. (Photo courtesy of LRMC)

The viaduct for the Light Rail Transit Line 1 (LRT-1) Phase 1 has been completed by LRT-1 private operator Light Rail Manila Corporation (LRMC) and project contractor Bouygues Travaux Publics (Bouygues).

In a statement on Monday, LRMC president and CEO Juan Alfonso thanked project partners in the government and private sectors, noting that the project achieved “significant progress” despite limitations caused by the Covid-19 pandemic.

“LRMC is glad to welcome 2022 with this LRT-1 Cavite Extension accomplishment. I am proud of the commitment and sacrifice of all our teams, who displayed resilience amidst unsettling conditions and the determination to deliver with excellence,” Alfonso said.

During the ceremonial erection of the last span for the LRT-1 Cavite Extension Phase 1, Transportation Arthur Tugade said the project would provide “mobility, connectivity, and convenience” to commuters in Cavite and the southern part of Metro Manila.

“20 years ago, the government had a vision of putting a Cavite extension for the LRT-1 line. This was just a dream 20 years ago,” Tugade said.

He thanked the LRMC for continuing the project’s construction amid the Covid-19 pandemic and for the “active” collaboration of the local government of Parañaque City.

“I think it’s just appropriate that we salute LRMC. Pinakita ninyo ang pangangailangan na talaga na maganda ang (You have shown the need for good) partnership between the local government, private sector, and the national government,” Tugade said.

Phase 1 of the 11.7-kilometer (km) LRT-1 Cavite Extension project covers a total of five stations—Dr. A. Santos, Ninoy Aquino, Asiaworld, MIA, and Redemptorist—is 67.5 percent complete as of end-December 2021, and is expected to be complete by late 2024 or early 2025.

The LRT-1 Cavite Extension—in its entirety—is a joint project of the Department of Transportation, the Light Rail Transit Authority, and the LRMC.

It will have eight stations connecting Baclaran in Parañaque City to Bacoor, Cavite, and is 61.60 percent complete as of December 2021. By Raymond Carl Dela Cruz

Article courtesy of The Philippine News Agency

Photo credit: Bilyonaryo

The Securities and Exchange Commission (SEC) has considered favorably the stock rights offer by Philex Mining Corporation for a maximum of PHP3.15 billion.

In its meeting on January 27, the commission en banc resolved to render effective the registration statement filed by Philex Mining for a stock rights offer covering up to 842 million common shares, subject to certain remaining requirements.

The actual number of common shares to be issued will depend on the final offer price. 

Philex Mining will offer the shares to eligible shareholders for a maximum offer price of PHP4.81 per share.

Net proceeds from the offer could amount to PHP3.059 billion. 

Proceeds will be used for the company’s investment in subsidiary Silangan Mindanao Mining Company, Inc. through Silangan Mindanao Exploration Co., Inc. for the capital expenditures and development cost of its Silangan Project, which includes mine development, construction of the mill plant and support facilities, and storage tailings facility.

The stock rights offer will run from February 28 to March 10, in time for the listing of the offer shares on the Philippine Stock Exchange on March 21, according to the latest timetable submitted by Philex Mining to the SEC.

The company has engaged BDO Capital & Investment Corporation as the issue manager and lead underwriter for the offer.

Article courtesy of the Philippine News Agency

One of the new trains of the Philippine National Railways (PNR) Clark Phase 1 during an inspection in Valenzuela City on Wednesday (Jan. 26, 2022). Transportation Secretary Arthur Tugade said the construction of the PNR Clark Phases 1 and 2 are in "full swing." (Photo courtesy of DOTr)

The Department of Transportation (DOTr) has begun the inspection of trains purchased for the Philippine National Railways (PNR) Clark Phase 1 project in Valenzuela City on Wednesday.

In a Facebook post, DOTr Secretary Arthur Tugade led the inspection of the trains purchased from the Japan Transport Engineering Company and Sumitomo Corporation as part of the North-South Commuter Railway (NSCR) system.

“Fifty-eight train sets ang inaasahang tatakbo sa kabuuang NSCR mula sa Clark International Airport (CRK) hanggang sa Calamba, Laguna (58 train sets are expected to operate in the entire NSCR from the CRK to Calamba, Laguna),” Tugade said.

Despite failed attempts to build such a rail system since 1994, with the latest resulting in a protracted legal battle in an international arbitration between Northrail and SINOMACH in 2016, Tugade said the PNR Clark Phase 1 (38-kilometers long from Tutuban to Malolos) and Phase 2 (53-km long from Malolos to Clark) are now “in full swing construction.”

In addition, he said the delivery of the NSCR’s 58 eight-car train sets, or a total of 464 train cars, has started after the first train set was delivered in November 2021.

“Oras na matapos ang PNR Clark Phase 1, magiging 35 minutes na lamang ang travel time mula Tutuban, Manila patungong Malolos, Bulacan, mula sa current 1.5 hours (Once PNR Clark Phase 1 is complete, travel from Tutuban, Manila to Malolos, Bulacan will be reduced to 35 minutes from the current 1.5 hours)," Tugade said.

Both PNR Clark Phase 1 and 2 are funded through assistance from the Japan International Cooperation Agency (JICA) and the Asian Development Bank (ADB).

On the other hand, all nine civil works contracts for the construction of PNR Calamba—56-km long from Manila to Calamba—are expected to be awarded within the first quarter of 2022.

To date, the PNR Clark 1 has a 53.85 percent overall progress rate, the PNR Clark 2 at 34.46 percent, and PNR Calamba at 28.62 percent complete. By Raymond Carl Dela Cruz

Article courtesy of the Philippine News Agency

In an effort to support women workers in the small-scale mining industry, the Mines and Geosciences Bureau (MGB) in partnership with planetGOLD Philippines, held a two-day online workshop on gender inclusivity last December 9-10, 2021. The workshop, dubbed “Mainstreaming Gender in Small Scale Mining,” aimed to help the participants gain knowledge on gender issues in the small-scale mining industry. Over 50 representatives from the MGB Central Office and the gender focal from the regional offices participated in the workshop.

“For mining practice to be socially responsible, it should address the needs of men and women in small-scale mining communities. The government programs for small-scale mining are trying to focus on how the sector can provide opportunities for men and women and promote women empowerment. For this reason, gender mainstreaming should be integrated into our efforts to formalize the sector,” said Engr. Roland A. De Jesus, Assistant Director of Mines and Geosciences Bureau.

The workshop served as an avenue for discussion on the legal framework related to gender and small-scale mining. It tackled issues such as limited access to sustainable livelihood, violence against women, unpaid carework, lack of gender inclusive initiatives, and the poor working condition of small-scale women miners. The gender leads who participated in the workshop developed action plans to enhance the current effort of MGB in achieving a gender-inclusive environment in the male-dominated industry of small-scale mining.

According to a baseline study on the current situation conducted by the planetGold Philippines in Sagada, Mountain Province, and in Paracale, Camarines Norte, the common issues faced by women in small-scale mining includes limited access to resources and benefits, poor working conditions, occupational health hazards, job insecurity, unpaid care work (domestic work), and gender-based violence.

“Women face several barriers to have meaningful participation in small-scale mining. Their contributions to the sector are undervalued.  Several gender gaps such as access to resources in small-scale mining remain unaddressed. The planetGOLD Philippines is working to address these challenges in order to make small-scale mining inclusive and a safe space for women to work, ” planetGOLD Philippines National Gender Specialist Jacklyn Belo-Enricoso explained.

Guided by the presentations, the participants joined a breakout session to brainstorm on action steps for the welfare of women in the small-scale mining industry. The small groups developed localized action plans to resolve key gender issues and address policy and institutional gaps in mainstreaming gender in small-scale mining.

The workshop serves as a prelude to the gender-inclusivity series to be conducted starting 2022 to strengthen the efforts of making small-scale mining a gender-inclusive sector.

Article courtesy of the Mines and Geosciences Bureau