PMEA Blog

Carmen Copper Corp., a newly formed, wholly-owned subsidiary of Atlas Consolidated Mining and Development Corp., is investing P12.475 billion to re-open and rehabilitate the Toledo mines in Cebu.

The project was one of the big-ticket projects approved by the Board of Investments for incentives last year.

It sought pioneer incentives from the investments body but received a non-pioneer status, instead, without prejudice to obtaining pioneer status once it established that it would use a new technology.

Carmen Copper will also need an endorsement from the Department of Science and Technology certifying the its technology has not been used used, or is not being commercially used in the Philippines.

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