By Ephrem Joseph | Proactive | September 08, 2021 15:36

The Mabilo Project in the Philippines is permitted to proceed to development and operation and has been named as one of the priority projects for the country.

RTG Mining Inc (ASX:RTG, TSX:RTG) has made considerable progress during the half-year ending June 30, 2021, in driving the Mabilo Copper-Gold Project in the Philippines towards development and production.

During the period there has also been progress made in legal matters relating to the Panguna Copper-Gold Project on Bougainville, Papua New Guinea, while the company is set for field season work at the high-grade Chanach Gold and Copper Project in the Kyrgyz Republic.

The company holds a 40% interest in Mt Labo Exploration and Development Corporation which holds the high-grade Mabilo Project.

Priority project for Philippines

Mabilo is permitted to proceed to development and operation and has been named as one of the priority projects for the country.

Having secured the Mining Permit and the successful Final Award in the SIAC matter, Mt Labo has received a number of debt finance and offtake term sheets.

These will fully finance the start-up development capital costs for the Stage One Direct Shipping Operation and a preferred provider on attractive terms has been selected and documentation is being finalised.

On-ground work

Progress on the ground in preparation for a commitment to development is proceeding well with the Mines and Geosciences Bureau (MGB) being very supportive of the efforts to fast-track start-up of the project in line with the permits issued to Mt Labo, with full access to all the project lands for Stage One now finalised.

Mt Labo continues to make good progress in the preparation for the development where clearing has begun for the waste dump area along with the initial preparation work for the office and camp area.

Promisingly, as a further demonstration of the commitment to supporting the mining industry, the Philippines President recently issued Executive Order No 130, which lifted the 9-year ban on granting new mining agreements to stimulate the economic growth in the country.

Bougainville progress

In Bougainville, the company has been nominated development partner with the joint venture (JV) company established by the Special Mining Lease Osikaiyang Landowners Association (SMLOLA) and Central Exploration Pty Ltd.

The highlight of the JV is the landowner proposal concerning the redevelopment of the Panguna Project.

The SMLOLA was established by the Autonomous Bougainville Government nearly a decade ago to exclusively represent the Customary Owners of the land within the original Special Mining Lease and which contains the resource endowment of the Panguna mine.

Supreme Court ruling

Since June 30, 2021, the Supreme Court of Victoria has fully dismissed all claims made by Bougainville Copper (ASX:BOC) Limited, the former owner of the Panguna mine, against RTG, Central and indirectly SMLOLA.

Key findings in the judgement are a complete vindication of the position taken by RTG, SMLOLA and its members.

The judgement states that the members of the SMLOLA ‘are the relevant and dominant customary landowners and it will be their views and objections that count when it comes to any assessment of landowner attitudes to the grant of any exploration or mining tenement over the former Special Mining Lease’.

Both the SMLOLA and RTG are highly respectful of President Toroama’s call for the Panguna landowners to unite and the landowners have been very active working to deliver the requests of the President.

Chanach fieldwork

RTG holds a 90% stake in the Chanach Project in the Kyrgyz Republic where fieldwork has begun.

As weather conditions improve, the mobilisation of equipment and clearing work on the access road has been carried out.

Response to COVID-19

RTG continues to assess the wide-ranging impacts of COVID-19, responding decisively on several fronts.

During the period, the Perth and Manila offices maintained normal working arrangements in compliance with country-specific recommendations.

The head office and project teams are operating at full capacity with reduced staff and working remotely where available, which to date has been both efficient and effective.

Source: Proactive