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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

Comment by singlefileon Apr 25, 2021 3:27pm
100 Views
Post# 33063855

RE:A Glimmer Of Hope (for open pit mining)

RE:A Glimmer Of Hope (for open pit mining)Excellent article ..thx - 

DIMACULANGAN also noted the Mining Act of 1995 allows the implementation of open-pit mining.

“There are economic, safety and environmental considerations for employing this method. Thousands of mines worldwide have adopted this primary method, including Australia, Canada, China, Brazil and the USA. We are the only country in the world that bans this method,” he said.

Lastly, Dimaculangan said open-pit mines can be operated safely by following globally accepted standards and mined-out areas  that “can be rehabilitated properly in a manner that provides alternative and productive land use after the life of the mine.”  Also interesting: 

‘Not To Worry’

MGB Director Wilfredo Moncano, in a telephone interview with the BusinessMirror, told industry players “not to worry.”

Sabihin mo lang [Tell them] don’t worry,” Moncano said. The official, however, stopped short of saying the ban on open-pit mining method will also be lifted soon.

“What I can say is that a working group is working on it in the DENR,” he said.

Moncano, however, said any decision on the issue of open-pit mining will depend on the appreciation and recommendation of DENR Secretary Roy A. Cimatu to Malacaang.

“Of course, it will all depend on Secretary Cimatu’s decision,” he said.

Moncano has been vocal in supporting the mining industry in its calls to reverse alleged anti-mining policies put in place by Lopez, which include the mining audit that saw 26 mining projects having been canceled or suspended, cancellation of 75 inactive Mineral Production and Sharing Agreements (MPSA) and one Financial and Technical Assistance Agreement (FTAA) and the open-pit mining ban.


https://businessmirror.com.ph/2021/04/25/a-glimmer-of-hope/

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