Apex renews claims in Maco mines
abs-cbnNEWS.com | 03/27/2009 7:04 PM
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Apex Mining Co. said Friday that it has renewed its claims in two mining sites in southern Mindanao.
In a statement, Apex said that the Mines and Geosciences Bureau of the Department of Environment and Natural Resources has certified the validity of the company's mineral production sharing agreements in two sites in Maco, Compostela Valley.
The bureau also said that Apex has complied with the terms and conditions of its agreements, adding that the company has undertaken mining activities in accordance with approved work programs.
Last month, Apex said it discovered 32,000 kilograms of ore with visible gold during its first week of exploration at Sagaysagay, a new gold vein of its Maco mining project.
The company told regulators that it has entered into an agreement with a cooperative composed of villagers and local government units to explore the Sagaysagay deposits, which were discovered by locals last year.
"On the cooperative's first week of operation it gathered 800 bags at 40 kilograms per bag of ore," Apex said.
Sagaysagay contains ores with "free-gold," which is expected to result in higher gold recovery.
