Sagitarrius Mines to release assessment on open-pit mining

Sagitarrius Mines Inc. will likely release the results of its Environmental Impact Assessment in June, in hopes of gaining consent of the provincial government of South Cotabato to review the ban on open-pit mining. The ban was enacted by the provincial government to protect the natural resources of the province. Earlier, Sagitarrius Mines had openly declared open-pit mining as the most viable method to extract ore from the mine site in Tampakan, South Cotabato. "We're hoping that the study will prove the environmental soundness of the project, its compliance with all the mandatory requirements of the Environment Department and the provincial government of South Cotabato," a community relations official from the company said in an interview on Friday. Current estimates indicate that the site could yield about 375,000 metric tons (MT) of copper and 360,000 ounces of gold every year over a 17-year period. Rough estimates say the project could contribute an average of 1 percent of the annual gross domestic product of the Philippines. It is also expected to generate around 10,000 jobs during construction and 2,000 jobs during operation. In 2009, it contributed P1.3 billion to the Philippine economy by employing 341 personnel and 1,050 contractors, P328 million from the purchase of goods and services, P27 million for power and fuel charges, P189.4 million in annual wages, and P207.2 million worth of taxes and charges remitted to the government. Barring any objections from the community, government and shareholders, Sagitarrius said it expects to commence operations by end-2016. — JMT/VS, GMA News