The permit that they have requires 60/40 ownership, in truth and in fact
There is a Supreme Court ruling in this matter already (Narra Nickel)
It does matter who controls the shares and where the money goes
The mineral processing company can be 100% foreign-owned
Do they already have one in place?
What is there to process in Direct Shipping Ore?
60% local ownership requirements by Philippines, page-26
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