DTI Sydney lauds granting of mining permit to Australian company

By DTI-Foreign Trade Service Corps
March 25, 2024

SYDNEY, Australia – On the heels of the successful visit of President Ferdinand R. Marcos Jr to Melbourne, Australia which yielded a total value of USD1.53 billion business agreements signed, the Department of Trade and Industry’s (DTI) overseas office in Australia, the Philippine Trade and Investment Center in Sydney (PTIC Sydney) lauded the recent granting of a mining permit to Perth-based Celsius Resources, through its Philippine subsidiary, Makilala Mining Company, Inc. (MMCI) for its flagship Maalinao-Caigutan-Biyog Mining Project (MCB) located in the Cordillera Administrative Region in the Philippines.

The Philippine government, through the Department of Environment and Natural Resources (DENR) granted the mining permit or Mineral Production Sharing Agreement (MPSA) to Makilala Mining Company, Inc on 15 March 2024. The permit grants the company exclusive rights to undertake rational exploration, development, and commercial production of copper and associated minerals.

The issuance of the MPSA, which is the first copper project to be approved in the Philippines in the last fifteen years, grants MMCI the exclusive right to undertake rational exploration, development, and commercial production of copper and associated minerals within the Contract Area covering approximately 2,500 hectares for a period of 25 years and is renewable for another 25 years.

During President Marcos visit to Melbourne, he highlighted to the Australian Business Community that the Philippines is positioning itself as a regional hub for smart and sustainable manufacturing. To achieve this, he emphasized that the Philippines is at the forefront of attracting sustainable-driven strategic investments such as investments in critical mineral processing, wherein the government enforces strict adherence to labor and environmental standards.

Celsius Executive Chairman Atty. Julito R. Sarmiento said: “The issuance of the mining permit has been much awaited by Celsius and the Balatoc Community. Now is our chance to deliver on our firm commitment to work with the Government and the local communities to develop the MCB Project in a sustainable manner that creates value not only for our shareholders but also for our communities.”

Sarmiento added that they are seriously taking the government’s call for the Project to go beyond compliance by striking a balance between keeping the business viable, protecting and rehabilitating the environment, uplifting local communities, and supporting the government’s socio-economic agenda. He also expressed confidence that they can make the project happen with the Philippine Government under the bold leadership of His Excellency President Ferdinand R. Marcos, Jr.

Meanwhile, Celsius Managing Director Peter Hume, said the grant of the MCB mining permit marks the progression of Celsius from being known as an exploration company to a mineral resource developer, and eventually a mine operator.