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Sunday, April 28, 2024

ORE slams order

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Oriental Peninsula Resources Group Inc. said Thursday the suspension order imposed by the Mines and Geosciences Bureau on unit Citinickel Mines and Development Corp. was “prematurely and improperly issued.” 

Citinickel operates two mining projects—Narra in Narra town and Pulot in the town of Sofronio Española.

The government earlier this year suspended the operations of Citinickel due to the cutting of trees without permit. Citinickel was also earlier found to be mining in a new area outside of what the government approved.

“The suspension order dated July 22, 2016… was prematurely and improperly issued as there was no prior audit conducted on the operations of Citinickel…,” said ORE in a disclosure to the stock exchange.

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