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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 Bandmanblueson Jun 12, 2021 1:12pm
194 Views
Post# 33377897

Getting Closer

Getting Closer

Villafuerte backs DENR plan to allow open-pit mining

Published June 12, 2021, 2:47 PM

by Mario Casayuran

 
 

Camarines Sur Representative Luis Raymund “LRay” Villafuerte on Saturday, June 12, supported the government’s plan to lift the ban on open-pit mining.

Villafuerte said such a mining method must be anchored on responsible and sustainable practices — given the exigency of creating new jobs and revitalizing rural economies as pillars of the government’s comprehensive post-pandemic recovery program.

He expressed confidence that Department of Environment and Natural Resources (DENR) Secretary Roy Cimatu, under the guidance of the environmental activist President Duterte, would ensure that operators of open-pit mines would strictly adhere to the rules set out by the government for them to start or resume their countryside projects on the back of responsible mining and sustainable development practices.

 
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“The mining industry has the resources and job-generating potentials to become a key driver of our post-pandemic economic recovery. Our largely untapped metals and minerals deposits could help power our way out of the pandemic-induced economic crisis. More importantly, responsible mining will create new jobs and spur economic growth outside Metro Manila,” Villafuerte said.

Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano earlier said that the ban on open-pit would soon be lifted.

The interagency Mining Industry Coordinating Council (MICC) also held a meeting last June 9 to discuss the results of its review started in 2018 of metallic mining operations in the country.

 

Villafuerte said the capital- and labor-intensive mining sector would provide the economic boost to provinces that continue to suffer from massive job losses arising from the malaise wrought by the Covid-19 pandemic upon the global economy.

 
 

Responsible mining, he added, also leads to other “productive activities”, such as investments in rural infrastructure and utilities, and the construction of schools and health facilities in its host-communities.

 
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He said Bicol, his home region, is host to some mining projects. His home province, Camarines Sur, is the site of a white clay mineral reservation.

“I am confident that on the watch of the eco-friendly President Duterte, and with Secretary Cimatu at the helm of the DENR, mining operators will have to tow the line and strictly adhere to the rules set out by the government on mining operations, especially those involving open-pit mining,” Villafuerte said.

 
 

“If you recall, it was only during the time of President Duterte when a serious and comprehensive review of mining operations was done. It was as early as 2012 when the MICC was mandated to conduct an audit of mining operations in the country under Executive Order (EO) No. 79, but no one bothered to implement it except this administration,” he added.

Last April, President Duterte issued EO 130 that lifted the nine-year moratorium on the issuance of new mining permits as part of the measures to boost state coffers amid the continuing huge expenditures for the government’s Covid-19 response and economic recovery programs.

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