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2/2/17

(UPDATED) The Philippines mining suspensions are announced and OceanaGold (OGC.ax) (OGC.to) is down 18% in Australia trading

Here's the news report, here below is the paste out and OceanaGold (OGC.to) (OGC.ax) and its Didipio mine is on the list of suspended companies.

B2Gold (BTO.to) (BTG) and its Masbate mine is in the clear.

My thanks to reader AM.

UPDATE: OGC just published this NR.

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MANILA, Philippines (UPDATED) – The Department of Environment and Natural Resources (DENR) announced the closure of 15 mining operations on Thursday, February 2.
"We have decided to close any kind of mining operation in functional watersheds," Environment Secretary Gina Lopez said at a press conference on Thursday.
Lopez said the mining operations to be closed are of the following firms:
  • BenguetCorp Nickel Mines Incorporated
  • Eramen Minerals Incorporated
  • LNL Archipelago Minerals Incorporated
  • Zambales Diversified Metals Corporation
  • Mt Sinai Mining Exploration and Development Corporation
  • Emir Minerals Corporation
  • Techiron Mineral Resources Incorporated
  • AAMPHIL Natural Resources Exploration
  • Krominco, Incorporated
  • Oriental Vision Mining Philippines Corporation
  • Libjo Mining Corporation
  • Adnama Mining Resources, Incorporated
  • Platinum Group Metals Corporation
  • Claver Mineral Development Corporation
Meanwhile, Lopez also announced the suspension of the following mining firms:
  • OceanaGold Phils Incorporated
  • Lepanto Consolidated Mining Company
  • Citinickel Mines And Development Corporation
  • Berong Nickel Corporation
  • Ore Asia Mining and Development Corporation

UPDATE 2: Here's a segment from this report:


Lopez also announced that the operations of four companies were suspended due to violations. They would be allowed to operate once these issues were addressed.
Suspended are Oceana Gold Mining Operation in Nueva Vizcaya for causing reduced agriculture production of farmers in the area, Citnickel Mines and Development Corporation in Narra, Palawan for siltation of river and farm lands, Lepanto Mines and Development Corporation for leakage of mine tailings into the river and Ore Asia Mining and Development Corp for siltation of rivers.
Lopez said the DENR is “fully aware” that many workers in the mines would be affected, but the welfare of the people in these areas was more important.