The provincial government of South Cotabato, Philippines, has reversed a 2010 policy that banned open-pit mining, removing the final regulatory hurdle for the stalled Tampakan copper-gold project, reported Reuters.

Wilfredo Moncano, director of the Mines and Geosciences Bureau, said the Tampakan project has “one of the largest copper-gold reserves in Southeast Asia.” Developer Sagittarius Mines has estimated resources at the 10,000-hectare mine site to be 15 million tonnes of copper and 17.6 million ounces of gold.

"All the major requirements to legally support the mining operation has been complied with,” Moncano added.

Tampakan is the Philippines biggest stalled mining project with development cost previously estimated at $5.9 billion before it was stalled by the provincial ban.

Source: Reuters

 

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