TVI set to decommission Canatuan mine by end-2013
TVI Resource Development (Philippines) Inc., the local unit of Canada’s TVI Pacific Inc., said Wednesday it will decommission its Canatuan mine by the end of this year to start an environmental rehabilitation.
Canatuan mine in Siocon, Zamboanga del Norte has yielded large deposits of gold, silver, copper and zinc for TVIRD for several years, making it one of the most profitable miners in the country. TVI began commercial operations at Canatuan mine in 2004.
TVIRD is currently wrapping up operations in Canatuan ahead of the mine’s closure, after 10 years of operation. “Tree planting is really a basic way to address the environment. Statistically, the mine planted over 360,000 trees which is more than five times the number of trees affected by the company’s operations,” said TVIRD spokesman Kaycee Crisostomo.
TVI said it constructed a tailings impound facility that can withstand an 8.5-magnitude earthquake and can accommodate the maximum amount of rainfall that can possibly happen overnight.
“As Canatuan mine life ends, we want to make sure that the final mine rehabilitation is adequately funded. There is what we call a final mine rehabilitation plan. It’s like a path that we want to keep until the end of mine life really comes,” Crisostomo said.
TVI teamed up with Kennemer Foods Inc. early this year for a joint agricultural agreement that aims to establish a plantation scale enterprise.
The company plans to tap about 1,600 hectares of land near the mine area and turn it into a cacao plantation.
“The mine rehabilitation fund for Canatuan is P113 million and this is to make sure that the rehabilitation programs are sustainable. The partnership is to make sure that we are able to address the immediate need for employment when the end of the mine life comes,” said Crisostomo.
TVIRD earlier asked the Environment Department to speed up the issuance of the environment compliance certificate for its Balabag project in Bayog, Zamboanga del Norte.
TVIRD is the first company to secure a mining license since the enactment of the Philippine Mining Act of 1995.
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