Manila okays mining project

Published August 28, 2008

MANILA, Aug 27: The Philippines’ Department of Environment and Natural Resources has approved an application by a company controlled by the president of food and drinks giant San Miguel for a large-scale mining permit, a senior official said on Wednesday.

The application by Agusan Petroleum and Mining Corp has been sent to the office of President Gloria Macapagal Arroyo for a final approval, the official said.

Agusan Petroleum, owned by San Miguel president Ramon Ang, has applied for a financial and technical assistance agreement (FTAA), a contract allowing 100 per cent foreign ownership of a mining project and is open to large projects with initial capital of at least $50 million.

The environment and natural resources department first approved Agusan’s FTAA proposal in early 2007, said Horacio Ramos, director of the Mines and Geosciences Bureau.—Reuters

Opinion

Editorial

IHK resolution
Updated 08 Nov, 2024

IHK resolution

If the BJP administration were to listen to Kashmiris, it could pave the way for the resumption of the political process in IHK.
Climate realities
08 Nov, 2024

Climate realities

THE Air Quality Index in Lahore once again shot past the 1,000-level mark on Wednesday morning, registering at an...
Rule by fear
08 Nov, 2024

Rule by fear

THE abduction of an opposition MNA, as claimed by PTI, is yet another grim episode in Pakistan’s ongoing crisis of...
Trump 2.0
Updated 07 Nov, 2024

Trump 2.0

It remains to be seen how his promises to bring ‘peace’ to Middle East reconcile with his blatantly pro-Israel bias.
Fait accompli
07 Nov, 2024

Fait accompli

A SLEW of secretively conceived and hastily enacted legislation has achieved its intended result: the powers of the...
IPP contracts
07 Nov, 2024

IPP contracts

THE government expects the ongoing ‘negotiations’ with power producers aimed at revising the terms of sovereign...