OceanaGold Corp T.OGC

Re:No renewal for Didipio - the background

[psych01]

Elvis--that question has bee settled by the courts---Oceana's operations are not on indigenous land claims; in any event the Philippine government retains ownership of the land, the mining companies are contracted to do the mining and pay government enormous amounts of money.
 President Duterte has been given (by Federal Government Legislation) --sole authority to grant permission to mine, provided the miner complies with environmental regulations.  Two important departments---Mines and Finance have recommended renewal of Oceana's FTAA.  
      It is simply a matter of who Duterte side with in the end---the ultra leftist environmentalists or the pragmatists around him who know that the Philippines needs hard currency for their economic recovery and that Didipio can be up an running full bore within about two months.  I think they're trying to appease the green factions while figuring out a way to get the mine opened---not easy to say the least.  The article you offer is old and contains absolutely nothing new.  IMO

[Esther1]

An interesting read on the FTAA agreement. Particularly Section XVI and XVII. Also interesting that OGC can remove all of its equipment if the agreement is terminated or expired Lot of complications can be put in the way by an adverserial party ( not necessarily the government ), which might take a while to work out.  It does not look so cut and dry ( legally) that OPG can be just kicked