Arbitration and dispute resolution
The parties have 1 year to settle any dispute amicably and in good faith. Disputes that were not resolved in...
Assignment or transfer
The contractor may assign its rights, interests and obligations in this contract to another entity, subject to the approval of the government.
Audit mechanisms - financial obligations
The contractor shall keep accurate technical records about its mining operations and shall furnish the Mines and Geosciences Bureau (MBG)...
Cancellation or termination
The contract may be suspended for the following reasons: (a) the contractor failed to comply with any provision or requirement...
Community consultation
The contractor shall coordinate with the proper authorities in the development of the mining community as well as the host...
Environmental impact assessment and management plan
The contractor must first secure an Environmental Compliance Certificate (ECC), the prerequisite of which is the submission of an environmental impact assessment. - Sec. 7.3
Environmental monitoring
The contractor shall set up an Environmental and Safety Office at the mine site to monitor the implementation of its EPEP.
Environmental protections
The contractor has to submit an Environmental Protection and Enhancement Program (EPEP) covering the entire project, and must allocate at...
Financial obligations - community or commodity funds
The contractor shall allot annually at least 1% of the direct mining and milling costs for the development of the...
Governing law
The governing law is Philippine law. Art. XII, Sec. 2 of the 1987 Constitution allows the exploration, development, and utilization...
Hardship clause or force majeure
The contractor may suspend mining operations for reason of force majeure as defined in R.A. 7942. Any failure or delay...
Infrastructure
The contractor may install infrastructure it needs for the operation of the mine. All movable units shall remain its property...
Local employment
The contractor shall give preference to Filipino citizens who are residing near the mine site for its mining operations (Sec....
Location
The concession area is located in the Municipality of Loreto, Province of Dinagat Islands. - Sec. 4.1
Other - financial/fiscal
The contractor shall pay all the required national and local taxes and fees. - Sec. 8.1.m
Other - miscellaneous
The contractor shall also help in the development of mining technology and geosciences, by producing geological, geophysical, geochemical and other...
Production Share - "Profit Oil features (triggers for variations in split - IRR, factor, production, etc .)
The government share shall be the excise tax on the mineral products extracted. The contractor shall pay excise taxes at...
Renewal or extension of term
After 25 years, this contract may be renewed for a term not more than 25 years. - Sec. 3.1
Reporting requirements
The contractor must submit quarterly and annual reports during the operation period. The quarterly report must contain the tonnage of...
Restrictions on transactions with affiliated parties
The contractor is not restricted from selling to its affiliates, but must do so at arm's length standard. - Sec. 6.5
Royalties
The contractor has to pay royalties to the Mines and Geosciences Bureau (MGB) at the rate of 5% of the gross output. - Sec. 6.4
Sacred, cultural, or historical sites
The contractor shall pay royalties to the indigenous cultural communities for the mining of their ancestral lands, at the rate...
Signatories, State
Jose L. Atienza, Jr., Secretary, Department of Environment and Natural Resources
State agency, national company or ministry executing the document
Department of Environment and Natural Resources
Surface fees or rent
The surface fee is akin to occupation fees for MPSAs. The contractor shall pay occupation fees per hectare to the...
Training
If the Filipino residents of the area lack skills and expertise, the contractor shall undertake a training and recruitment program...
Water use
The contractor may use the water resources in the contract area, subject to applicable laws, rules and regulations, as well...
Work and investment commitments
The contractor shall continue commercial operations immediately upon approval and registration of this contract. It shall submit to the MGB...
Country
Philippines
Signature Year
2009
Resource
Chromite
Type of Contract
Production or Profit Sharing Agreement
Open Contracting Identifier
ocds-591adf-9208160921
Disclosure Mode
Government
Krominco, Incorporated - Annex of MPSA No. 291-2009-XIII (Surigao Mineral ...
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