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[SMM News] Philippines: second round of mining operations review conducted in the fourth week of July
Jul 9,2019 17:18CST
The content below was translated by Tencent automatically for reference.

SMM7, 9 July: according to local media reports in the Philippines, on July 9, Philippine Deputy Secretary of Finance Bayani Agabin said in a statement that the Interdepartmental Mining Coordination Committee (MICC) is conducting a second round of "objective, scientific and fact-finding" review of mining operations in the fourth week of July, which is expected to be completed in January next year. The second audit will cover 17 mining operations across the country and will be carried out by the same technical teams in 26 mines that conducted the first round of reviews last year.

Bayani Agabin, deputy finance minister, said MICC would complete the review and team management in the second and third weeks of July, and we would select about 15 experts from the same technical team in the first audit. The 15 experts will be divided into three groups each with five members and will be assisted by senior and junior technical and research assistants to assist them in the audit. The review will cover the environmental, economic, social, legal and technical aspects of mining operations.

It is reported that earlier, MICC postponed a proposal to lift the suspension of the new mineral agreement. Executive order No. 79 suspends the new mining agreement "until legislation is enacted to rationalize existing revenue-sharing schemes and mechanisms".

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