INVESTWELL Mining Corporation, which has iron-ore mining operations in
Mambulao, CamNorte, has reportedly paid Php4.5 million to the provincial
treasury as compliance to a provincial ordinance protecting the environment.
The miner also paid an additional Pp300,000 as accreditation fee, according
to online provincial news Camarines Norte News.
The provincial ordinance No. 32-2013 aims to protect the environment
around the area where mining operations are taking place.
The ordinance has required (legitimate) miners to pay Php2 for every
metric ton of ore that would be shipped out of the province.
As of now, Investwell is readying to ship out about 21,000mt of iron
ore which are stockpiled at its Larap mining site.
Of the Php4.5 million, 60 per cent will go to the trust fund for
environmental rehabilitation and the rest would be use to fund the provincial
government’s community projects.
Meanwhile, the BMG has suspended Investwell’s operations in Larap until
its dispute with another miner over mining claims’ ownership has been resolved.
The bureau also said it has allowed Investwell to ship out the iron ore
after it obtained clearance from the Department of Environment and Natural
Resources (DENR).
The mineral cargo will be loaded onto a vessel docked at a port in
Baranggay Osmena, Mambulao. - CamNorteNews
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