2 NiHao units get permits in Zambales
NiHao Mineral Resources International Inc. yesterday said its mining subsidiaries have obtained temporary permits after the Zambales government canceled their small-scale mining licenses.
NiHao said in a disclosure to the stock exchange that Compania Nube Minerale Inc. and Companhia Minera Tierra Inc., wholly-owned subsidiaries of Tierra Gracia Inc., secured the temporary permits. Tierra Gracia is a wholly-owned unit of NiHao.
The permits are valid for a period of 30 days and renewable for the same term.
NiHao, meanwhile, said it was in the process of securing a similar temporary permit for Minedomain Inc. over its mining tenement in Mambog, Botolan, Zambales. Minedomain earlier applied for a small-scale mining permit.
Zambales Gov. Amor Deloso rejected all pending applications for mining permits due to overlapping mineral rights. Deloso’s order also opened areas covered by the canceled mining permits to new applications
NiHao, formerly Magnum Holdings Inc., earlier said it had 7,102 hectares of mining claims in Botolan and Iba.
The company is initially exploring 400 hectares of its claims. It said it had delineated a 100-hectare zone that contained nickel laterite and saprolite material with 0.8 percent to 2.0 percent nickel based on contiguous test pits.
NiHao said it was conducting further tests to determine the mineable ore reserve.
The company last year expressed plans to conduct a stock rights offering to generate as much as P700 million in proceeds to fund exploration projects in Zambales and in Mindanao. Jenniffer B. Austria - Manila Standard Today
NiHao said in a disclosure to the stock exchange that Compania Nube Minerale Inc. and Companhia Minera Tierra Inc., wholly-owned subsidiaries of Tierra Gracia Inc., secured the temporary permits. Tierra Gracia is a wholly-owned unit of NiHao.
The permits are valid for a period of 30 days and renewable for the same term.
NiHao, meanwhile, said it was in the process of securing a similar temporary permit for Minedomain Inc. over its mining tenement in Mambog, Botolan, Zambales. Minedomain earlier applied for a small-scale mining permit.
Zambales Gov. Amor Deloso rejected all pending applications for mining permits due to overlapping mineral rights. Deloso’s order also opened areas covered by the canceled mining permits to new applications
NiHao, formerly Magnum Holdings Inc., earlier said it had 7,102 hectares of mining claims in Botolan and Iba.
The company is initially exploring 400 hectares of its claims. It said it had delineated a 100-hectare zone that contained nickel laterite and saprolite material with 0.8 percent to 2.0 percent nickel based on contiguous test pits.
NiHao said it was conducting further tests to determine the mineable ore reserve.
The company last year expressed plans to conduct a stock rights offering to generate as much as P700 million in proceeds to fund exploration projects in Zambales and in Mindanao. Jenniffer B. Austria - Manila Standard Today
posted by OlongapoCity Zambales at
12:14 AM
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