UK-owned FCF Minerals Corp said its Runruno gold project in Quezon, Nueva Vizcaya will cease operations by the end of the year following the suspension of its Dupax exploration permit by the Mines and Geosciences Bureau (MGB).
In a statement on Wednesday, FCF said the suspension effectively prevents it from carrying out exploration activities that were aimed at identifying additional ore reserves to extend the operational life of the mine.
FCF Minerals said the Runruno project was operating on its remaining reserves, and the Dupax program was seen as the only opportunity to replace exhausted ore.
“With Dupax exploration suspended and no ability to complete drilling to define new economic reserves, Runruno will be closed, completely depleting its current ore reserves,” FCF general manager Lorne Harvey was quoted as saying in the statement.
The MGB suspended the mining exploration permit of Vogel Corp., a subsidiary of FCF Minerals, in Dupax del Norte due to safety concerns and community opposition.
Protests began in August after permits were granted, which allowed the company to survey areas for potential mineral deposits.
FCF Minerals said the planned closure is expected to affect more than 1,500 workers, including mine employees, contractors and service providers.
The company said it will implement a structured mine closure program in compliance with Philippine regulations, including environmental and safety standards. — Von Andrei E. Villamiel