MGB approves development of Agata mine by TVI Resource and Mindoro Resources

The Mines and Geosciences Bureau (MGB) approved the metal mining project of  TVIRD Resource Development Phils. Inc. and Mindoro Resources Ltd. in Agusan Norte.

 

The of Agata Project was given a Declaration of Mining Project Feasibility (DMPF) for the development of high-iron laterite resources at the mine site, Canada's TVI Pacific Inc., the parent of TVIRD Resource, noted on its website Wednesday.

 

The project feasibility declaration is the last document a mining company must secure from the national government before it can start to operate operate. 

 

In this case, DMPF gave TVIRD Resource and Mindoro Resources the authority to extract and sell iron, nickel and other minerals from the contract area.

 

Development of the Agata Project is will start next month, and shipping of high-iron laterite will start in the third quarter of 2014, according to TVI Pacific.

 

“We are pleased with this development that will allow TVIRD to move back into production while working in parallel to further realize our proposed nickel processing project for the benefit of our shareholders and the community,” said TVI Pacific chairman, president and CEO. Cliff M. James.

 

The construction of a port to be used for ore transport was also given the green light by the Philippine Ports Authority, according to TVI Pacific.

 

“We continue to successfully achieve significant milestones that include the results of testing at our pilot plants in both China and the Philippines, and the technical program remains on track to provide metallurgical data required to design the proposed full-scale processing plant and to finalize a bank feasibility study," James said. – VS, GMA News