Quote from SMI's Arnaldo:“When we start operating, original...

Quote from SMI's Arnaldo:

“When we start operating, original projection was April 2016 but then again with all the approvals we need to secure, three ECCs, FPIC, local government endorsements — a total of 4 provinces, 4 municipalities, 9 baranggays, and we also have to make sure the resettlement process is in place, and shareholder approval. So it’s important we get the approvals sooner for us to be able to operate soon,” he noted.


Some here may try to have you believe it is just one province that needs to change one rule and away we go, excavators on site. Some approvals and procedures will be trickier than others. There is also the chance that the policy may provide for more inclusive decision making, like for downstream agricultural values, as hinted by Dept. of Ag. boss recently. Furthermore, there is the time it will take to sort out the approval heirachy as directed by the policy, which I imagine SMI will not want to see end up in the courts.


Article:

http://www.tribuneonline.org/20120605/business/20120605bus4.html