I am unaware of any recent amendments to the 1995 Mining Act? I am assuming that Celsius will apply for a MPSA which will require 60% local ownership. There is an excellent website explainiing the mining regulatory environment which is quite up to date.
https://iclg.com/practice-areas/mining-laws-and-regulations/philippines
Having the right Philippine partner can also significantly reduce the development risks and have greater national appeal to the government and general public and may actually make financing easier. I dont see it as being a negative.
Ann: Celsius Resources MCB Project takes step closer to Operation, page-12
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