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- RTG Mining (RTG) has noted the Philippines’ decision to lift a four-year ban on the open-pit mining of copper, gold, silver and other complex ores
- Environment Secretary Roy Cimatu signed the order on December 23rd to lift the ban
- The order will set out strict conditions and requirements for those who use the open-pit method
- The company says it will cooperate with the requirements which affect its Mabilo project
- Shares in RTG Mining were up 8.33 per cent to 13 cents each at 11:39 am AEDT
RTG Mining (RTG) has noted the Philippines’ decision to lift a four-year ban on the open-pit mining of copper, gold, silver and other complex ores.
The Department of Environment and Natural Resources (DENR) Secretary Roy Cimatu signed the order on December 23rd to lift the ban.
Open pit mines have come under criticism for its damage to the environment. It extracts minerals from the ground whilst underground mines have tunnels.
The order covers all mining tenement holders that will adopt a surface mining method and sets strict conditions and requirements for those that would use the open pit method to ensure all mining undertaken to the best practices.
The lifting of the ban is expected to benefit the company’s Mabilo project. The company says the project will be developed in line with DENR’s directives and has the capacity to stimulate economic growth in local communities.
DENR says the lifting of the ban will “revitalise the mining industry and usher in significant economic benefits to the country by providing raw materials for the consumption and development of other industries and by increasing employment opportunities in rural areas.”
Shares in RTG Mining were up 8.33 per cent to 13 cents each at 11:39 am AEDT.
