From the latest RTG presentation:
-The Philippines requires 60% ownership by local Filipinos in companies that hold an exploration licence
-The investment in the Philippines is held through a 40% indirect investment in Mt. LaboExploration and Development Corporation
-Once a Mining Permit is issued, typically mining operations are run though two local companies: a mining company which mines the ore and sells the ore to a second production company
-The production company processes the ore. Processing is not a nationalisedindustryMabiloProject Ownership Structure32
What are the implications of the above in light of RTG wining the Singapore arbitration ? After wining the litigation RTG owns 100% of Mabilo. Do they need to find a local partner for 60%. Could this be what is holding up developing Mabilo ?
60% local ownership requirements by Philippines
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