Permits of Nihao, other Zambales miners, cancelled
Publicly listed Nihao Mineral Resources International Inc. said Friday its mining subsidiaries in Zambales province, northwest of Manila, lost their mining and quarrying permits after the provincial governor cancelled all regulatory approvals.
The company said all pending applications for mining and quarrying permits were also denied by the provincial government.
It said this was “due to multiple overlapping of mining rights resulting from the acceptance and processing of mining applications not in accordance with [the] law, as well as the cancellation of mining and quarry applications without due process.”
“The areas covered by the [cancelled] applications were thus deemed open to new applications,” Nihao told the stock exchange.
Nihao said its subsidiaries had obtained temporary mineral land occupation permits (TMLOPs), “which authorize the holders to conduct area delineation, access development, exploration, environmental assessment, community consultations, limited incidental mining, among others.”
Nihao’s companies that operate in Zambales are Companhia Nube Minerale Inc., Companhia Minerale Tierra Inc. and Minedomain Inc. These are wholly owned subsidiaries of Minera Tierra Gracia, a wholly owned subsidiary of Nihao.
Their small-scale mining permit applications were cancelled or denied “and in lieu thereof TMLOPs have been issued by the office of the provincial governor of Zambales,” Nihao said.
The temporary licenses are valid for 30 days and renewable for similar periods thereafter.
Nube Minerale and Minera Tierra have been granted temporary permits, each for five-hectare sites, and Nihao is in the process of securing a TMLOP for Minedomain for its 20-hectare mining tenement in the village of Mambog in Botolan town.
Nihao and its subsidiaries are engaged primarily in nickel mining.
On the Philippine Stock Exchange, Nihao’s share price ended Friday at P11.25, up from P11.00 on Thursday. Only P323,900 worth of shares was traded. With editing by INQUIRER.net - By Daxim Lucas - Philippine Daily Inquirer
The company said all pending applications for mining and quarrying permits were also denied by the provincial government.
It said this was “due to multiple overlapping of mining rights resulting from the acceptance and processing of mining applications not in accordance with [the] law, as well as the cancellation of mining and quarry applications without due process.”
“The areas covered by the [cancelled] applications were thus deemed open to new applications,” Nihao told the stock exchange.
Nihao said its subsidiaries had obtained temporary mineral land occupation permits (TMLOPs), “which authorize the holders to conduct area delineation, access development, exploration, environmental assessment, community consultations, limited incidental mining, among others.”
Nihao’s companies that operate in Zambales are Companhia Nube Minerale Inc., Companhia Minerale Tierra Inc. and Minedomain Inc. These are wholly owned subsidiaries of Minera Tierra Gracia, a wholly owned subsidiary of Nihao.
Their small-scale mining permit applications were cancelled or denied “and in lieu thereof TMLOPs have been issued by the office of the provincial governor of Zambales,” Nihao said.
The temporary licenses are valid for 30 days and renewable for similar periods thereafter.
Nube Minerale and Minera Tierra have been granted temporary permits, each for five-hectare sites, and Nihao is in the process of securing a TMLOP for Minedomain for its 20-hectare mining tenement in the village of Mambog in Botolan town.
Nihao and its subsidiaries are engaged primarily in nickel mining.
On the Philippine Stock Exchange, Nihao’s share price ended Friday at P11.25, up from P11.00 on Thursday. Only P323,900 worth of shares was traded. With editing by INQUIRER.net - By Daxim Lucas - Philippine Daily Inquirer
posted by OlongapoCity Zambales at
7:09 AM
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