DENR hikes mining fees, capital requirement

MANILA, Philippines – The Department of Environment and Natural Resources (DENR) would be raising all filing fees for mining applications and the required minimum paid-up capital of applicants.

The DENR said these were stipulated under the new mining policy or the Executive Order No. 79.

In a notice on Friday, February 22, the DENR said filing fees would be increased for applications for the following:

For exploration permits (EP) 
New: P300 per hectare but not less than P200,000 per application
Old: P60 per hectare but not less than P50,000 per application

For Mineral Agreement (MA)
New: P300 per hectare but not less than P300,000 per application
Old: P60 per hectare but not less than P50,000 per application

For Financial and Technical Assistance Agreement (FTAA)
New: P300 per hectare but not less than P500,000 per application
Old: P60 per hectare but not less than P100,000 per application

The DENR is also raising the minimum capital requirements for mining applicants.  

The minimum authorized and paid-up capital would be be raised, respectively, to P100 million from P10 million, and to P6.25 million from P2.5 million.

Applicants for FTAA must have P500 million paid up capital upon grant of the agreement by the President and prior to its registration with the Mines and Geosciences Bureau (MGB).

All mining applicants with pending applications are required to comply with the new payment regulation within 60 days.

The DENR said that failure to comply with the new payment regulation shall cause the denial of their mining applications “as deemed appropriate by the MGB.”

The orders shall take effect 15 days upon publication. – Rappler.com