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Bullboard - Stock Discussion Forum 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... see more

TSX:SAU - Post Discussion

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Post by Bandmanblues2 on Dec 07, 2021 5:02pm

King king mine

Miners want open-pit mining ban lifted By: Jordeene B. Lagare - 2 hours ago The Chamber of Mines of the Philippines on Tuesday reiterated its appeal to the government to lift the ban on open-pit mining, saying the policy continues to drive investments away from the country. During the 10th Arangkada Philippines Forum held virtually, Gerard Brimo, chair of the Chamber of Mines of the Philippines, said the government should reverse the misguided ban on open-pit mining. Brimo said this policy continues to put a brake on the growth of the industry, adding this mining method is utilized across the globe. I believe this is already in the works and we hope it will happen soon, he added. The suspension on the use of open-pit mining to extract mineral resources was imposed by the late former Environment Secretary Regina Paz Lopez in 2017. As stated in the Department of Environment and Natural Resources (DENR) directive, open pits, if not all, have ended up as perpetual liabilities, causing adverse effects on the environment, particularly due to the generation of acidic or heavy metal-laden water, erosion of mine waste dumps or the vulnerability of tailings dams to geological hazards. INQ President Duterte issued Executive Order No. 130 in April this year, lifting the nine-year moratorium on the issuance of new mining permits, which was seen to provide significant economic benefits for the country. Four months later, the DENR promulgated implementing rules and regulations of EO 130, which did not include lifting the ban on open-pit mining. Aside from that, Brimo said the government should repeal all provincial ordinances that prohibit mining. A province cannot go against the national law that specifies no less that it shall be the, and I quote, the responsibility of the state to promote a rational exploration, development, utilization and conservation of mineral resources through the combined efforts of government and the private sector to enhance national growth, he added. The Chamber of Mines of the Philippines likewise called on the rationalization of no-go zones for mining. That is clearly recognized but lets not go overboard and use that to stymie the growth of the industry, Brimo said. Curated business news Enter your Email By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy. READ NEXT Exporters want CREATE law amended MOST READ Bongbong Marcos-Sara Duterte tandem reaches Metro Manila Solid North? Ilocano group files DQ case vs Bongbong Marcos Holiday advisory: PH to commemorate feast of immaculate Dec. 8 Hontiveros: Who is mystery shopper behind Udennas purchase of Malampaya stake? 8 missing travelers from South Africa put wrong details in info sheets, unresponsive DOH LATEST STORIES No jab, no job: PBA doubles down on strict vaccination rule Senate ratifies bicam report on bill for learners with disabilities Bongbong Marcos-Sara Duterte tandem reaches Metro Manila Senate ratifies bicam report on amendments to Foreign Investment Act US remembers the day the world changed 80 years ago at Pearl Harbor BACK TO TOP
Comment by rapid_fire_ on Dec 16, 2021 12:55pm
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Comment by rapid_fire_ on Dec 16, 2021 10:19pm
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