Celsius Resources Ltd (ASX:CLA, AIM:CLA) told investors that its Philippine subsidiary, Makilala Mining Company (MMC), has received certification from the authorities approving key environmental and mine planning documents for the flagship Maalinao-Caigutan-Biyog (MCB) copper-gold project.
The AIM-quoted firm, in a stock market statement, noted that MMC now has a Certificate of Approval for its environmental protection and enhancement program and final mine rehabilitation and/or decommissioning plan.
"We are grateful for the Philippine government regulatory bodies in the prompt review and approval of our environmental permitting requirements,” said Celsius executive chair Julito Sarmiento.
“In turn, we reiterate our firm adherence to and commitment to go beyond compliance with environmental laws in the development of the MCB Project."
The certification confirms the project complies with necessary Philippine law and regulations, committing the company to environmental protection for the life of the mine. It also includes the establishment of a guarantee funding mechanism, covering contingent liabilities related to the mine.
Celsius noted that it is a comprehensive and strategic environmental management plan that serves as an operational link between the environmental management provisions of the Philippine Mining Act's Implementing Rules and Regulations and the conditions stated in the Environmental Compliance Certificate issued to the MCB project.
These are necessary steps in the process to securing a mining permit in the country.
Today, as the permitting process continues, Celsius highlighted that it envisages receiving a Mineral Production Sharing Agreement (MPSA) by the end of August.
The MCB project is located in the Cordillera Administrative Region of the Philippines, and, is host to a resource comprising 1.5 million tonnes of contained copper and 1.47 million ounces of gold.
It is the flagship project among multiple key prospects in the company’s Makilala portfolio.