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The Rapu-Rapu Minerals Incorporated
(RRMI), the proponent of the Rapu-Rapu Polymetallic
Project (RRPP) in Rapu-Rapu, Albay, paid beginning July to
October 2005 some P1,788,021.99 in excise taxes to the District
Office of the Bureau of Internal Revenue (BIR) here in Legazpi
City.
Relative
thereto, a Transport Permit (TP) was issued by the MGB-V to the
Rapu-Rapu Processing Incorporated (RRPI), the processing arm of
the RRPI, for the initial shipment to Hong Kong of some 27 gold
and silver dore bars with a total net weight of 219.0522
kilograms followed by another 218,849.80 grams valued at an
estimated $461,468.46. As of September of the current year, it
is estimated that some 620 kilograms of gold and silver dore
bars have been shipped to Hong Kong for refining and sale.
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DORE BARS, ready for shipment to
Hongkong, contain 10% gold, 60% silver and the remaining 30% of
other metals like copper, zinc, etc.
A dore bar is a mixture of gold and silver and said to contained
10-15% gold and 90-85% silver. It was processed at the RRPI
processing plant in Bgy. Pagcolbon, Rapu-Rapu, Albay and the
run-of-mine ore was sourced out from RRMI mineral property
covered by MPSA No. 122-98-V.
The RRPI is the
first polymetallic mining project to be opened in Bicol under
the Philippine Mining Act of 1995 and will showcase the
Philippine Government in the initial testing or gauge of
international investors in coming into the country.(LDValdez)
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