Marcventures confident of DENR reversal of suspension order

Despite a possible suspension, Marcventures Mining and Development Corp. remained upbeat the Department of Environment and Natural Resources ( DENR) will reverse its decision after the company submitted documents against the “unwarranted findings.”

Marcventures is among the 29 mining firms on the verge of total suspension should they fail to explain the audit findings violations over the next seven days.

The nickel miner said it has received a copy of the DENR letter that enumerated the major audit findings and violations.

“Based on our review, the general audit findings are defensible and can be reversed. It appears that there may have been some unintended oversight in the audit since there are matters which are yet to be acted upon by the DENR,” the company said in a statement.

These include the offer to provide P30 million for the implementation of the three million tree planting program and application for discharge permits for the silt-ponds and oil and water separator.

Marcventures also emphasized it still awaits the approval of the Environmental Protection and Enhancement Program (EPEP) and Final Mine Rehabilitation and/or Decommissioning Plan ( FMRDP), which is one of the DENR’s ground for its suspension.

The company also countered claims its mining area is within proclaimed watershed reserve, saying Presidential Proclamation 1747 issued in 2009 is subsequent to its mineral production sharing agreement executed on June 19, 1992 that recognizes prior rights of contract holders, thus allowing them to operate in the area.

“We are confident that a review of the documents submitted by MMDC will reverse the unwarranted findings,” it said.

“As far as we are aware, we are fully compliant and have not received any notice of environmental violation,” Marcventures added.

The mining firm is a whollyowned subsidiary of listed Marcventures Holdings Inc. and holds a MPSA covering an area of 4,799 hectares in Cantilan, Surigao del Sur.

To date, Marcventures has done exploration work on 1,659 hectares and has performed mining operations on 125.15 hectares on its MPSA covered area.