Olongapo SubicBay BatangGapo Newscenter

Sunday, February 21, 2010

NiHAO Unit Gets Permit To Develop Zambales Mining Claim

DJ NiHAO Unit Gets Permit To Develop Zambales Mining Claim >NI.PH

NiHAO Mineral Resources International Inc. (NI.PH) said Monday its wholly owned subsidiary, Mina Tierra Garcia Inc., has signed a mineral production sharing agreement with the government that allows it to explore and develop a 5,081-hectare mining claim in Zambales province, north of Manila.

The claim, across Iba and Botolan towns, contains potential sources of nickel, cobalt, chromite and other mineral deposits.

The agreement has a 25-year term that could be renewed for another 25 years.

-By Cris Larano, Dow Jones Newswires

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It is reported that Companhia Nube Minerale Inc, a subsidiary of Nihao Mineral Resources International Inc, has executed an operating agreement with another local mining firm for the exclusive right to develop a nickel mine in Botolan, northwest of Manila.

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Two militant legislators are seeking congressional inquiry, in aid of legislation, on the involvement of high-ranking government officials in the alleged irregular endorsement and granting of mining contracts to two companies headed by former environment secretary Michael Defensor.

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Nihao Mineral Resources International Inc. will raise funds through a stock rights offering for its mining activities in its nickel tenements, the company told the Philippine Stock Exchange

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Zambales: Mining capital

Mistulang mining capital ang Zambales. Noong panahon ng panunungkulan ni Governor Vic Magsaysay, malalaking minahan lamang ang namamayagpag. Pero sa ilalim ng kasalukuyang lokal na pamunuan ni Governor Amor Deloso, mas pinaigting ang kampanya para sa pagsusuporta hindi lamang sa malalaking minahan kundi maging sa small-scale mining o SSM.

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  • This is not necessarily good news. Its better to have a few large companies than many small scale companies. For one , smaller companies tend to destroy the environment more than large companies. Smaller means employing less qualified technical people and lesser concern in addressing environmental issues. And if something goes wrong , we can run after the large one. The smaller ones will just pack up.

    By Anonymous Anonymous, at 2/24/2010 10:21 PM  

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