Mina Tierra gets DENR okay to develop Zambales mine

MANILA, Philippines - Mina Tierra Gracia Inc., a wholly-owned subsidiary of NiHAO Mineral Resources International, Inc.. has entered into a mineral production sharing agreement (MPSA) with the Department of Environment and Natural Resources (DENR).

The MPSA will allow Mina Tierra to explore and develop for commercial use of the nickel, cobalt, chromite and other minerals and deposits in its 5,081.6408 hectare mining area located in Iba and Botolan, Zambales.

In a disclosure to the Philippine Stock Exchange, Mina Tierra said the MPSA was granted by the DENR last Feb. 19.

Mina Tierra’s MPSA is for a period of 25 years and can be renewed for another term not exceeding 25 years.

NiHAO is engaged in exploring, developing and operating nickel properties.

As of Dec. 31, 2008, NiHAO had four mining claims in the country – one each in Zambales, Misamis Oriental, North Cotabato and Antique.

The mining firm also operates small-scale mining claims in Botolan, Zambales through Mina Tierra; as well as in Manticao, Misamis Oriental.

Mina Tierra acquired last year three other small-scale mining firms – Nube Minerale, Minera Tierra and Minedomain.

One of NiHao’s directors is former DENR Secretary Mike Defensor who is also a director of Geograce Resources Philippines.