(NewsDirect)
In what is perhapsthe company’s biggest milestone to date, Celsius Resources Ltd(ASX:CLA) managing director Peter Hume sits down with Proactive’sJonathan Jackson to discuss the importance of its Philippinesubsidiary, Makilala Mining Company, Inc. (MMCI), being granted aMineral Production Sharing Agreement (MPSA) for theMaalinao-Caigutan-Biyog Mining Project (MCB).
Issued by the PhilippineDepartment of Environment and Natural Resources on March 14, 2024,this permit is valid for 25 years and renewable for another 25 andrepresents a pivotal step for Celsius in transitioning from anexploration entity to a mineral resource developer and future mineoperator.
TheMPSA, the first copper project approval in the Philippines in the last15 years, endows MMCI with exclusive rights for the exploration,development, and production of copper and associated minerals withinthe 2,500-hectare contract area. This development catalyses the MCBproject's progression towards operational status.
Hume lauded the achievement as a testamentto the diligence of the in-country team and a critical juncture in thecompany’s evolution. Granting of the permit is expected to stimulatefinancial investments, with Celsius already engaging with potentialbackers. With the permit secured, Celsius is set to finalise fundingmechanisms, advancing the MCB project into its next developmentalphase.
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
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