Nadecor, TVI seen getting MGB approval

MANILA, Philippines - The Mines and Geosciences Bureau (MGB) is expected to approve this month the mining operations of Nationwide Development Corp. (Nadecor), Adnama Mining Resources Inc. and TVI Resource Development (Philippines) Inc.

MGB Director Leo B. Jasareno said Nadecor may get the nod first as it had fulfilled most of the requirements, followed by TVIRD.

“Chances are Kingking mines of Nadecor will get their permits next week,” Jasereno said over the weekend.

But Jasareno anticipates that TVIRD could get the development process moving faster as it is operating a medium scale gold mining operations.

The Kingking mining operations covers a 1,656-hectare mineral rights area located in barangays Kingking, Magnaga, Tagdangua and Araibo in the municipality of Pantukan, Compostela Valley.

“The development requirements for Kingking is much larger than the TVIRD,” the MGB director said.

Development requirements include road infrastructure and processing plants.

The MGB wants all permits released this year so that full mining operations could get going next year.

Kinking is a world-class project, with investments worth over $1.5 billion. It is a gold-rich porphyry copper deposit spatially related to significant epithermal vein systems that can be potentially utilized through the open pit mining method.
Most of the mineral deposits indicate two concentrates, copper-gold concentrate and gold concentrate.