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St Augustine Gold and Copper Ltd T.SAU

Alternate Symbol(s):  RTLGF

St. Augustine Gold and Copper Limited is a Singapore-based mineral exploration company. The Company is focused on the King-King copper-gold project on the island Mindanao in the Philippines. The King-king tenement is comprised of approximately 184 mining claims that are owned by Nationwide Development Corporation (NADECOR). The Project is a copper-gold mineral reserve located at Sitio Gumayan, Barangay King-king, Municipality of Pantukan, Davao de Oro, on Mindanao Island, Philippines. Its deposit is a porphyry copper-gold deposit hosted primarily by porphyritic hornblende diorites, submarine volcanic rocks, and volcanoclastic sediments. The sulfide copper mineralization in the King-king deposit consists of chalcopyrite and bornite, with lesser amounts of chalcocite, digenite, and covellite.


TSX:SAU - Post by User

Post by db2067on Dec 21, 2020 12:35pm
134 Views
Post# 32153205

Sustainable mining program to start next year 2021

Sustainable mining program to start next year 2021
Another perspective from the Manila Times on the adopting the Canadian Towards Sustainable Mining program starting in 2021. This is good news for the Philippines, when done right, which we all want, open pit mining is not going to be an issue with the 3 projects that are permit ready. They have also updated the royalty and tax agreements to be equitable to the citizens of the Philippines. Going forward with responsible mining is good news, PH is the 5th most mineral-rich country in the world for gold, nickel, copper, and chromite. A well executed reopening can go a long way to helping fund all the infrasture projects happening. 
 
 
https://www.manilatimes.net/2020/09/19/business/business-top/comp-sustainable-mining-program-to-start-next-year/769642/
 
Sustainable mining program to start next year
 
By
Eireene Jairee Gomez
September 19, 2020
 
 
After nearly three years of “substantial review,” the Chamber of Mines of the Philippines (COMP) said a “sustainable mining” program in Philippines would finally begin next year.
 
This came after COMP completed the rollout of the Towards Sustainable Mining (TSM) initiative among its member-firms in Luzon and the Visayas after its launch in Mindanao last month.
 
Established in 2004, TSM is a corporate social responsibility program developed by Ottawa-based Mining Association of Canada (MAC) aimed at improving environmental and social practices in the mining industry.
 
COMP adopted TSM in 2017, making the Philippines the first in Asia to subscribe to the self-assessment system that is rapidly evolving into the global standard for best practices in sustainable mining.
 
“[The] COMP is now ready to implement TSM after nearly three years of substantial review of the program’s various components to assure applicability to conditions in the Philippines,” it said.
 
Through TSM, COMP said it aimed to drive its members’ environmental and social performance, ensure that key mining risks were managed responsibly, and best practices were used at members’ facilities nationwide.
 
Canadian Ambassador to the Philippines Peter MacArthur said that when TSM was launched, the program “was the first mining standard to apply at the facility level, with public reporting, independent verification and civil society oversight. Today, TSM helps to ensure affected communities have the data they need to know nearby mines are being managed responsibly and safely for the overall public good.”
 
“A very important aspect of TSM is the way in which it incorporates civil society oversight through the community of interest advisory panel, which not only oversees the development and implementation of TSM, but also provides a dialogue table between the industry and civil society, resulting in an industry that is more aware and responsive to the views of communities,” he added.
 
Nonita Caguioa, Environment assistant secretary for mining concerns, said President Rodrigo Duterte’s pronouncements at the beginning of his term served as a wake-up call for the mining industry to adhere to international standards.
 
“In response, the government has implemented new mining policies and strict environmental guidelines that are all geared toward the protection of the environment and mining communities,” she added.
 
“As we are facing this global pandemic, the government considers the mining industry as one of the primary measures for economic recovery. This is an opportune time for the industry to adopt TSM because sustainability should go hand in hand with economic growth.”
 
Besides Canada and the Philippines, other countries that have adopted TSM are Argentina, Botswana, Brazil, Finland and Spain. South Africa, Indonesia and Laos have expressed interest to adopt TSM, as well.
 
Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano said the Environment department and MGB would give their utmost support for the development of TSM in the country.
 
“We will also guarantee our role to serve by administering and enforcing more progressive laws and regulations for the mining sector. We all know that mining is finite and a temporary use of land for the creation of economic wealth. The challenge (for COMP members) is to ensure TSM will be used properly to achieve sustainable development,” he added.
 
More than 200 individuals representing the country’s biggest large-scale mining projects participated in the TSM rollouts. These were held through a videotelephony platform and hosted by the Embassy of Canada Trade Mission.
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