No valid ground to cancel mining contract, says TVI
Louise Maureen Simeon (The Philippine Star) - February 24, 2017 - 11:24pm

MANILA, Philippines - Canadian-owned TVI Resource Development Philippines Inc. maintained that the Department of Environment and Natural Resources’ decision to cancel its mining contract has no ground.

TVIRD’s Balabag Gold-Silver project in Zamboanga del Sur was among the 75 mineral production sharing agreements (MPSAs) ordered cancelled by Environment Secretary Gina Lopez.

“There exists no ground to validly cancel, terminate or suspend the MPSA between the government and our company. There is neither violation of the terms of the MPSA nor of any law, rule or regulation that would merit its cancellation, termination or suspension,” TVIRD president Eugene Mateo said.

“It is on this basis that TVIRD vehemently assails in the strongest terms the arbitrary decision of the DENR to cancel its Balabag MPSA and the complete absence of respect for the sanctity of contracts entered into by both parties for their common development,” he added.

TVIRD argued that the project is not located within the vicinity of any lake, spring or tributary enumerated in the country’s list of proclaimed watershed forest reserves or any critical watershed.

 

RESOURCE DEVELOPMENT PHILIPPINES
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