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MANILA, Philippines – Mining firm Rapu-Rapu Mineral Inc (RRMI) will extend the life of its polymetallic project in Albay province if additional deposits are found in the mine.
In an interview on the sidelines of a mining forum in Makati City Friday, August 10, RRMI President Rogelio E. Corpus said they hope to extend production at Rapu-Rapu beyond 2013 — the estimated end of the mine life.
Corpus noted that RRMI’s 25-year mineral production sharing agreement (MPSA) with government is valid until 2033.
“We intend to continue exploration this year, next year. [The extension of the mine life] depends on our findings. [If we find more deposits, we will move to extend the mine life] that’s our objective,” Corpus told reporters.
“The intention is to comply with regulation because in the MPSA, you’re required to conduct exploration because it’s an agreement with the government. If we do not find anything, the project is over,” he added.
CSR activities
Corpus said in his presentation that the company intends to spend some P60.8 billion for various community activities in Rapu-Rapu this year.
These activities include livelihood training, education activities, day care facilities/services, health services, and other community programs and projects.
To date, Corpus said the company already spent some P70.7 billion in corporate social responsibility (CSR) efforts. – Rappler.com
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