Gov’t revamps mining permits, sells 50 assets

The Department of Environment and Natural Resources (DENR) will begin auctioning off about 50 idle mining assets nationwide to the private sector as early as next month, in line with the government’s efforts to maximize the country’s vast natural resources.

- By DEXTER BARRO II

DENR Undersecretary Carlos Primo David said the department is finalizing an administrative order to provide the guidelines of the auction, which will cover mines with cancelled or expired permits.

The list of mining assets would include those with cancelled or expired exploration permits (EPs), mineral production agreements (MPAs), and financial or technical assistance agreements (FTAAs), among others.

David said this totals to around 50 idle mining assets across the country, with actual locations to be announced at the annual Mine Safety and Environment Conference in Baguio City next month.

He noted that each site will be packaged with a prospectus, covering all the necessary information and details of the project, which will make it easier for companies to find the asset they would like to invest in.

Following the announcement, the government will immediately begin the auction through a competitive selection process.