PMEA Blog

From: foxbusiness.com

VENTURE:MIO)(FRANKFURT:WKN906167) is pleased to announce that its Philippine operating subsidiary, MRL Gold Phils. Inc., has signed a Memorandum of Agreement (MOA) with the Mamanwa and Manobo Tribes and the National Commission on Indigenous Peoples (NCIP). The MOA is a result of the continuing consultation process by the company with the stakeholders within the company’s Agata Project area, Northern Mindanao, the Philippines.

The MOA will allow the people of the Mamanwa and Manobo Tribes to participate in the company’s future success by granting a royalty of one percent of the gross output of any mining project. In addition to the royalty payments, Mindoro has committed to provide skills training, employment opportunities, educational scholarships, and medical and dental services. The MOA also ensures the preservation and development of the community’s culture, traditions and institutions, and the protection of burial grounds and sacred places.

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