Digging for profits: Who owns PH mines?

QUICK FACTS

Name of mining firm: Techiron Resources Inc.
Location: Homonhon Island, Guiuan, Eastern Samar
Mining area: 1,500 hectares
Metals extracted/mine products: Chromite
Chromite production (2020): 34,108 dry metric tons valued at P296,595,330
Mining permit period: 2009-2034

Note: A “Techiron Mineral Resources Incorporated” is on the 2017 DENR list of mines for closure. PCIJ found “Techiron Resources Inc.” on the registries of the Mines and Geosciences Bureau and the Securities and Exchange Commission.

 

OWNERSHIP

Incorporation date: Aug. 27, 2015

Stockholders: 
Valueoresource Holding Corp.
Tactica Limited
Monte Cristo Start Maritime Ltd.
Privalov, Dmitry
Gil, Anthony James K.
Batac, Regina C.
Acuzar, Jose Cris
Martelino, Rosa Alia Mendoza
David, Harley Serna
Gaspar, Robert

Chairperson of the Board: Gaspar, Robert

 

MINING REVENUE 

Current assets: P406.84 million (2018)
Current liabilities: P1.03 billion (2018)
Total revenue: P512.96 million (2018)
Net income: -P33.15 million (2018)

 

MINE AUDIT FINDINGS (2016/2017)

PCIJ did not get access to the full audit report of Techiron Resources Inc.’s operations.

 

STATUS OF RECOMMENDATIONS / COMPANY RESPONSE (AS OF MARCH 2022)

PCIJ sent a letter to the company on Feb. 21, 2022. The company acknowledged receiving the letter on Feb. 28, 2022 via email, and called our staff on March 1. However, the company has not responded to any of our questions.

 

STATUS OF OPERATIONS

According to an April 2020 report by Mongabay, a nonprofit conservation and environmental science news platform, Techiron is the last chromite mining firm still operating on Homonhon Island after the Department of Environment and Natural Resources (DENR) suspended two other mining firms in 2017. 

At the onset of the Covid-19 pandemic, local village chiefs implemented a resolution that blocked the entry of foreigners to the island amid the pandemic. A provincial directive also banned foreign vessels and non-residents from entering Eastern Samar province, where Homonhon is located.

The DENR initially supported the move by suspending the export permit of Techiron, but later overturned its own decision and allowed the company to continue operations.

 

COMMUNITY PROFILE

Municipality class of mining location: Guiuan, Eastern Samar (2nd class)
Population: 52,991 (2015)
Poverty incidence rate: 34.6% (2015)
Human Development Index: 0.41 (2012, province)

 

IN THE NEWS

Philippine government flips local officials’ entry ban for mining ship

 

Sources:

General Information Sheet, 2020
Financial Statement, 2018
List of existing Mineral Production Sharing Agreements
Philippine Metallic Mineral Production, Mines and Geosciences Bureau
Poverty and socioeconomic indicators, Philippines Statistics Authority

Copy of full Mine Audit Reports by company, 2016
Copy of Notices of Issuance of an Order, 2017
Copy of Orders of Cancellation and/or Suspension, 2017

Acronyms used:

RA (Republic Act)
IRR (Implementing Rules and Regulations)
PD (Presidential Decree)
DAO (Department Administrative Order)
MPSA (Mineral Production Sharing Agreement)
SDMP (Social Development and Management Plan) 

 
Disclaimer: The mine audit was conducted in 2016 after Regina “Gina” Paz Lopez assumed the post of environment secretary. The findings in the reports, which authorities sent to the mining firms in 2016, were likely addressed in the succeeding years following a review conducted by the Mining Industry Coordinating Council after the audit led by Lopez, who died in 2019. PCIJ has verified the reports and reached out to each company for comment. We suggest you also confirm findings included in the reports as some information may have changed over time.

The reports come from files that PCIJ has received in connection with various environmental investigations. We are releasing them in full, recognizing the public value of the files to mining communities, miners, policymakers, civil society, and researchers.
Note: The Human Development Index is a measure of how well a country has performed, not only in terms of real income growth, but also in terms of social indicators that measure people's ability to lead a long and healthy life, acquire knowledge and skills, and have access to the resources needed to afford a decent standard of living. An HDI value below 0.550 is considered low and below 0.399 is very low. The national average for the Philippines is 0.718 as of 2020.

This article was produced with the support of Internews' Earth Journalism Network.

— PCIJ, March 2021