SEC okays registration of Radtech Mining

The Securities and Exchange Commission (SEC) has approved the registration of Radtech Mining Corp., a joint venture between businessman Michael ‘Mikee’ Romero and former Sen. Joey Lina.

Radtech is initially capitalized at P250 million, P62.5 million of which has been subscribed and P16 million paid for.

Radtech is 60 percent owned by Romero’s Mikro-Tech Capital Inc. and 40 percent by Lina’s Radiant 3100 Inc.

According to Romero, Radtech initially intends to engage in nickel mining in mine sites covering some 10,0000 hectares in Zambales. Of these, 6,700 hectares are in Masinloc; 1,600 hectares are in San Marcelino and while 1,800 hectares are in Candelaria.

The identified mine sites are  closely situated to the coastline which presents potentials for strategic port development north of Subic.

In July 2007, Mikro-Tech Capital bought a 33.6-percent stake in Pacifica from project development firm Strategic Alliance Development Corp., making it  one of the major shareholders of the recently-converted mining firm.

Pacifica, which recently raised its capital to P500 million from only P200 million, is looking at acquiring mining tenements in Zambales and Mindanao.

Pacifica earlier extended a P50 million loan to Zam-Iron Mining Corp. for the latter’s exploration of metal deposits in the Zamboanga peninsula in Mindanao.