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DMPF application submitted for Sagay

DMPF application submitted for Sagay

08 January 2024 Announcement
  • An application for a Declaration of Mining Project Feasibility has been submitted to the
    Philippine Mines and Geosciences Bureau confirming the technical and financial viability for
    the Sagay Copper-Gold Project.

Celsius Resources (ASX, AIM: CLA) is pleased to announce that its Philippine subsidiary, Tambuli Mining Company, Inc. (“TMCI” or the “Company”), has applied for a Declaration of Mining Project Feasibility (“DMPF”) for its Sagay Copper-Gold Project in the island of Negros.

The said application proclaims the presence of minerals in the area applied for, which are recoverable by socially acceptable, environmentally safe and economically sound methods as further manifested in the following key documents comprising the application:

  • Mining Project Feasibility Study Report
  • Final Exploration Report
  • Environmental Impact Statement Report
  • Environmental Protection and Enhancement Program
  • Final Mine Rehabilitation/Decommissioning Plan
  • Social Development and Management Program
  • Care and Maintenance Program

These plans and programs were developed following an extensive stakeholder consultation process to ensure the integration of social and environmental safeguards and local context. Endorsements from host local government units were also secured in the form of resolutions interposing no objection to the project.

Celsius Executive Chairman, Atty. Julito “Sarge” Sarmiento, said:

“This is another achievement for Celsius’ portfolio of assets in the Philippines. As with the Maalinao-Caigutan-Biyog Copper-Gold (“MCB”) 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.

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.”