The government issued the first mining exploration permit in two years, since President Benigno Aquino signed Executive Order No. 79 to introduce industry reforms in July 2012.
The Mines and Geosciences Bureau said it approved the exploration permit of Goodearth Mining and Development Inc. for a 1,968-hectare area in Dinapigue, Isabela.
An exploration permit allows a qualified person to undertake exploration activities for mineral resources in certain areas open to mining.
“The EP issued on May 19, 2014 grants Goodearth the right to explore the potential nickel, chromite and other associated mineral deposits within the permit area for a period of two years renewable for like periods but not to exceed a total term of six years, as such the case for metallic minerals,” MGB said.
The exploration permit of Goodearth will expire on May 19, 2016.
“The said approval of the EP is in accordance to the pertinent provisions of Republic Act No. 7942, otherwise known as The Philippine Mining Act of 1995 and implementing rules and guidelines,” MGB said.