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Philippine mining fees up starting March 2013

February 22, 2013 3:37pm
All fees related to applications for mining activities are up starting next month, the Department of Environment and Natural Resources (DENR) said Friday, citing provisions of Executive Order No. 79 which President Benigno Aquino singed in July 2012.
 
The application fee for exploration permits will be raised to P300 per hectare from P60, but not less than P200,000 per application from not less than P50,000 per application, according to a notice the DENR published in Philippine Daily Inquirer.
 
The new fees will take effect 15 days after having been published, and covers all applications that are pending with the DENR and its attached agencies.
 
Other fees were also raised as follows:
 
Mineral Agreement—P300 per hectare but not less than P300,000 per application from P60 per hectare but not less than P50,000.
 
Financial and Technical Assistance Agreement (FTAA)—P300 per hectare but not less than P500,000 per application from P60 per hectare but not less than P100,000.
 
The department is also raising the capital requirements for mining companies.
 
The minimum authorized paid up capital for mining applications will be P100 million from P10 million, and the minimum paid-up capital to P6.25 million from P2.5 million.
 
For a company to go for an FTAA, which will be granted by President, it must have a paid up capital of P500 million before it registers with the Mines and Geosciences Bureau (MGB).
 
The mapping of no-go zones is not yet complete, however, and the DENR can issue new exploration permits only once the mapping is done. No-go zones are areas where mining activities are prohibited or restricted because the place is dedicated solely to agriculture and tourism activities or are protected areas. — VS, GMA News 
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