Dear Stakeholders
There were several articles regarding the Ordinance on Open Pit Mining that were published in the past 24 hours. Worth noting in particular are the following:
"An alliance of mining companies operating in Mindanao is calling for the immediate repeal of local government ordinances issued by South Cotabato and Zamboanga del Norte which banned open pit mining methods. The Coalition for Responsible Mining in Mindanao (Coremin2) said the ban on open-pit mining contradicts the national policy on mining as embodied by Republic Act No. 7942 or the Philippine Mining Act of 1995.”
Read Full Story Here: http://businessmirror..com.ph/home/regions/20344-coremin-wants-repeal-of-open-pit-mining-ban-by-south-cotabato-zamboanga-norte
“MANILA, Dec 7 (Reuters) - The Philippines is preparing guidelines on the use of taxes paid by mining companies to ensure local communities benefit, as it remains firm in upholding the supremacy of the Mining Act over local rules, a senior government official said on Wednesday. The guidelines on mining revenues aim to end graft practices by local officials and the move, along with the government's strong view that local mining bans were inconsistent with national policy, should boost investor interest in the sector with estimated untapped mineral reserves worth $1 trillion. Local Governments Secretary Jesse Robredo said Manila was ready to intervene, if needed, to overrule local regulations banning open pit mining.”
Read Full Story Here: http://m.trust.org/trustlaw/news/interview-philippines-readies-rules-on-use-of-mining-taxes
But likely the most important news is that the Province where TVI has its Balabag gold property (separate from the province where Canatuan operates), has passed a resolution saying that Bayog cannot prohibit legitimate mining firms from exercising their rights over mining sites that are covered with mineral production sharing agreements (MPSA) with the government. According to the board, the MPSA is an agreement between the State and the contractor or the mining firm authorized under Republic Act 7942 or the Philippine Mining Law. “In other words, the interest of the Government is also prejudiced if the contractor cannot exercise such right,” the Sangguniang Panlalawigan said.
Read Full Story Here http://interaksyon.tv/article/19073/zambo-del-sur-govt-invalidates-order-banning-open-pit-mining-in-bayog-town
Please visit TVI’s “Ordinance” page on our website for full coverage, photos and other media http://www.tvipacific.com/Investors/Ordinance/default.aspx
Regards,
Rhonda
Rhonda Bennetto | VP Investor & Corporate Relations
desk 403.233.6506
mobile 403.389-4633
skype rbennetto
TVI Pacific A Philippine Resource Company
2000, 736-6 Ave SW | Calgary, Alberta l Canada l T2P 3T7
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PRODUCTEUR |
CODE : TVI.TO |
ISIN : CA8729171097 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
TVI Pacific est une société de production minière d'or et d'argent basée au Canada. TVI Pacific est productrice d'or, d'argent, de cuivre et de zinc aux Philippines, et détient divers projets d'exploration aux Philippines et en Chine. Son principal projet en production est CANATUAN aux Philippines et ses principaux projets en exploration sont SIENNALYNN, BALABAG, RAPU RAPU et BALABAG RIDGE aux Philippines et SHUIKOUSHAN en Chine. TVI Pacific est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 948 844 (727 479 US$, 651 021 €). La valeur de son action a atteint son plus haut niveau récent le 17 mai 1996 à 2,74 , et son plus bas niveau récent le 06 mai 2016 à 0,01 . TVI Pacific possède 47 442 200 actions en circulation. |