Celsius Resources Ltd (ASX:CLA, AIM:CLA), through its Philippine subsidiary Tambuli Mining Company, Inc, has formally applied for a Declaration of Mining Project Feasibility (DMPF) to the Philippine Mines and Geosciences Bureau for its Sagay Copper-Gold Project on Negros Island.
Approval of the DMPF will advance Celsius’ portfolio in the Philippines, demonstrating the project's technical and financial viability.
Comprehensive documentation submitted
The DMPF application consists of a suite of comprehensive documentation including a mining project feasibility study report, final exploration report, environmental impact statement report, social development and management program, care and maintenance program and others.
These documents reflect the integration of social, environmental and economic considerations, developed following extensive stakeholder consultations.
Celsius has secured endorsements from local government units, indicating no objections to the project.
This move reflects the company's commitment to sustainable and responsible mining practices.
OIC regional director of the Mines and Geoscience Bureau Cecille Ochavo Saycon receives the company’s DMPF application and documents from CLA managing director Peter Hume.
Celsius executive chair Atty Julito 'Sarge' Sarmiento said: “This is another achievement for Celsius’ portfolio of assets in the Philippines.
“As with the Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project, we aim to develop the Sagay Project into a productive mine that would not only bring value to our stakeholders and shareholders but also showcase our commitment to sustainable and responsible mining practices.
Innovative solutions
“We are at such a critical and pivotal point in human history where the ongoing climate change emergency demands an accelerated transition away from fossil fuels to renewable energy, and a green economy would necessitate the extraction of more so-called green metals like copper.
“The company believes that mineral extraction must be done through innovative solutions which optimise benefits and avoid adverse social and environmental impacts.
“We will work closely with the national and local government units as development partners to pursue shared goals.”
The Sagay Copper-Gold Project, in the northeastern part of Negros Island, Philippines, boasts a resource estimate of 302 million tonnes with 0.41% copper and 0.11 g/t gold, including 1.2 million tonnes of contained copper and 1 million ounces of contained gold.
The DMPF application is a vital step towards obtaining an exclusive mineral permit for mining operations in the region and the company says it is committed to providing progress updates on the status of the approval.