Celsius Resources Ltd (ASX:CLA, AIM:CLA) said its Philippines subsidiary, Tambuli Mining, has applied for a Declaration of Mining Project Feasibility at its Sagay copper-gold project in the island of Negros.
The application states minerals are present in the area applied for and are recoverable by socially acceptable, environmentally safe and economically sound methods after a series of studies.
This has included a mining project feasibility study; a final exploration report; an environmental Impact Statement; an Environmental Protection and Enhancement Program; and a final mine rehabilitation/decommissioning plan.
Celsius executive chairman, Atty. Julito "Sarge" Sarmiento, said: "This is another achievement for Celsius' portfolio of assets in the Philippines.
“As with the Maalinao-Caigutan-Biyog copper-cold ("MCB") Project, we aim to develop the Sagay Project into a productive mine that would not only bring value to our stakeholders and shareholders but also showcase our commitment to sustainable and responsible mining practices.
“The company believes that mineral extraction must be done through innovative solutions which optimise benefits and avoid adverse social and environmental impacts.”