The Mines and Geosciences Bureau (MGB) approved the Declaration of Mining Project Feasibility (DMPF) of TVI Resource Development Phils., Inc. (TVIRD) on April 29, 2016 covering the 4,996-hectare contract area located in Diplahan Municipality, Zamboanga del Sur.

TVIRD is a publicly listed company and holder of Mineral Production Sharing Agreement No. 086-97-IX. With the approval of the DMPF, the company is now authorized to proceed to the Development and Operating Period of the MPSA, which includes the extraction and commercial disposition of gold, copper and associated minerals within the contract area.

The Balabag Gold and Silver Project has an ore reserve of about 1.35 million metric tons with an average annual production rate of 193,000 metric tons of ore per year with a mine life of seven (7) years. The said project requires a capital investment of PhP1.04 Billion and is expected to generate PhP6.54 Billion in revenues, of which the Government is projected to benefit PhP742.70 Million.

By: Mining Tenements Management Division