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Celsius Resources Ltd - mineral explorer focused on portfolio of copper-gold resources in the Philippines - Philippine government’s Department of Environment & Natural Resources approves mining permit for Celsius’s flagship Maalinao-Caigutan-Biyog copper-gold project. The permit is for 25 years, renewable for another 25 years. Celsius says the permit is the first approved in the Philippines in the past 15 years. It grants local subsidiary Makilala Mining Co Inc the exclusive right to undertake exploration, development, and commercial production of copper in the MCB area. ‘The grant of the MCB mining permit marks the progression of Celsius from being known as an exploration company to a mineral resource developer, and eventually a mine operator,’ says Celsius Managing Director Peter Hume. Celsius also enter a mineral production sharing agreement with the Philippine government. Current stock price in Sydney: A$0.015, closed up 15% on Monday 12-month change: down 25% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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