Nationwide Development Corp. (Nadecor), said it had submitted a Declaration of Mine Project Feasibility (DMPF) study to the Department of Environment and Natural Resources (DENR) and the Mines and Geosciences Bureau (MGB).
The submission was announced recently by Nadecor director Conrado Calalang, who is past chair, and leads an investor group that controls over 50 percent of the company.
“We are delighted to have submitted the DMPF to the DENR and MGB, and are pleased with the successful completion of this major milestone, which will enable us … to accelerate the development of this flagship mining project,” Calalang said in a statement.
He said that when fully operational, the King-king project in Pantukan town “will bring many benefits to the Philippines, particularly the Pantukan community and Compostela Valley province.”
St. Augustine, a mining firm listed on the Toronto Stock Exchange, is a partner in the project. Its team played key roles in developing and managing some of the largest and safest mining projects in the world, Calalang said.
Calalang said Nadecor and St. Augustine were thankful for the “support we have been receiving from all the government agencies, the community and the stakeholders in this project.”