Benguet Corp. said Tuesday it secured from the Department of Environment and Natural Resources the renewal of its Mineral Production Sharing Agreement in a mining claim in Bataan.
The listed mining company said its subsidiary, Balanga Bataan Minerals Corp., was granted by the DENR a 25-year extension, which starts 31 March next year.
The renewal will allow Benguet Corp. to continue its drilling activities and other exploration efforts crucial for advancing toward a Declaration for Mining Project Feasibility.
The MPSA is situated in the mineral-rich Bataan Province, known for its promising geological formations.
The ability of Benguet Corp. to carry out these exploration works is expected to contribute not only to the company’s growth but also to the local economy.
The extension of the MPSA enables the company to further assess the mineral potential of the area, laying the groundwork for future mining operations that could create jobs and stimulate economic development in the region.
With this renewed agreement, Benguet Corporation aims to leverage its expertise in mining operations to maximize the potential of its mineral resources while implementing environmentally responsible practices.
The company is poised to undertake extensive exploration and feasibility studies in the coming years, which could lead to significant advancements in its mining projects.
