TVIRD moves closer to operating Zambo del Sur mine

MANILA, Philippines – TVI Resource Development Philippines Inc. (TVIRD) said it has submitted to the Philippine government its Declaration of Mining Project Feasibility (DMPF) for its Balabag gold-silver project in Zamboanga del Sur.

The document confirms the technical and economic viability of the mine and is a key requirement for the company’s bid to mine the area.

TVIRD, the local subsidiary of Canadian mining firm TVI Pacific Inc., said the DMPF will now be reviewed by the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources (DENR).

In January 2013, TVIRD filed for an Environmental Compliance Certificate (ECC), another key component of the government’s regulatory regime for mine exploration. The ECC stipulates conditions that the company must meet before, during and after the operation of the project.

“The Balabag project is ready to go, as soon as these documents get the final approval of the government,” said TVI Pacific Chairman and CEO Cliff James.

“We have the funding in place, and we have completed all the technical requirements needed for approval. Once the documents are signed, we will be in a position to accelerate development of the Balabag project to the benefit of all stakeholders,” he added.

The 4,779-hectare Balabag property, located in the town of Bayog, Zamboanga del Sur, is estimated to hold 1.78 million tons of mineral resources with over 134 thousand ounces of gold and over 4 million ounces of silver.

“With the necessary project requirements in place, we have reason to have a positive outlook on the forthcoming issuance of our ECC,” said TVIRD President Eugene Mateo.

“We draw confidence from TVIRD’s successful operational track record in Canatuan and wish to bring to Balabag the same successful business model, which presents inclusive benefits to all sectors,” Mateo added.

The company also runs a copper-zinc mine in Canatuan, Zamboanga del Norte. – Rappler.com