Renouvellement ou prolongation de la durée de la concession
This contract may by renewed as may be provided by law and the regulations at the time of renewal. - Sec. 2
There shall be no implied or presumption of renewal. The parties shall have to agree on it. - Sec. 22
Tomas Q. Soriano, President, Oro Development Corporation (for the Mining Lease Contract)
Aurelia Ma. S. Hernandez, President, Oro Development Corporation (for the Deed of Assignment)
James G. Ong, President, Ore Asia Mining and Development Corporation (for the Deed of Assignment)
The lessee shall observe environmental protections such as policing and sanitation of mines, pollution control, disposal of waste and tailings, and prevention of undue waste. - Sec. 16
The lessee shall pay annual rental fees and royalties as provided in the tax code. - Sec. 3
The lessee shall pay real estate tax on the buildings and improvements built on the land leased. It shall also pay rentals, royalties and taxes as required by law.- Sec. 5, 6
The lessee commits to spend at least Php100.00 per hectare per calendar year. If lessee happens to cover another area adjacent to the contract area herein, it may choose which areas to prioritize and spend the money on as most advantageous and beneficial for mining purposes. Excess amounts spent for one year may be carried forward to the next, while underspending shall be covered with payments to the Bureau of Mines and Geosciences under Mines Special Funds. - Sec. 14
The lessee may assign or transfer its rights under this contract upon prior written consent of the government, and only to entities with proper qualifications to become lessees. - Sec. 15
The lessee assigned its rights to the contract to Ore Asia Mining and Development Corporation. - Deed of Assignment
This contract shall lapse if the lessee fails to pay the foregoing rental, royalties, taxes and fees, after 30 days upon demand, or 2 consecutive years without demand. - Sec. 7
This contract shall be cancelled if lessee uses, attempts to use, or permits the use of the contract area for purposes other than mining, or uses it for the benefit, directly or indirectly, of entities not qualified to acquire a mining lease by themselves. - Sec. 10
This contract may be revoked by the government anytime, if required for public purposes. - Sec. 12
The lessee shall forfeit its rights under this contract if it fails to submit the annual report for 2 consecutive years. - Sec. 14
The government may cancel this contract if the lessee fails to comply with its terms as well as the provisions of Presidential Decree No. 463, as amended, and Commonwealth Act Nos. 466 and 470, as amended, and pertinent rules and regulations. - Sec. 18
The lessee may apply for the cancellation of this contract if it becomes impossible to continue profitable mining operations due to force majeure or other causes. It shall pay the rental, royalties, taxes and fees for that year, and shall have 1 year to remove its property from the premises. After 1 year, all remaining property shall belong to the government. - Sec. 19
The governing law is Philippine law. Art. XII, Sec. 2 of the 1987 Constitution (not 1986) allows the exploration, development, and utilization of mining areas under the full control and supervision of the government. - Sec. 26
Presidential Decree No. 463 is entitled the “Mineral Resources Development Decree of 1974."
The lessee waived its right to ask for grace period in paying rentals and royalties, as well as reduction in rent in case of hardship due to unforeseen fortuitous events. - Sec. 8
The lessee may withdraw from this contract due to hardship on account of force majeure or other causes. - Sec. 19
The lessee shall submit a sworn statement of proof of compliance with its annual work obligations within 60 days from year end. - Sec. 14
The lessee shall submit a monthly production report, due within 15 days from end of the month, stating the different kinds of ores and minerals extracted, the quantities shipped, amount stockpiled after shipment, name of mining claims where taken, and details and other information of the work done. - Sec. 17