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Bacolod City, Philippines Friday, January 28, 2011
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MMC needs to pay
P107M to operate

Maricalum Mining Corp. owes Sipalay City and Cauayan town P107,912,775 in back taxes that it needs to pay in order to resume mining operations in southern Negros Occidental, provincial administrator Enrique Pinongan said yesterday.

MMC officials, who recently met with Gov. Alfredo Marañon Jr., have expressed interest in resuming operations but are contesting the P107 million the firm is being charged, and have presented their own figures, Pinongan said.

Further discussions and negotiations on the matter are still underway, Marañon said.

Taxes owed by MMC as of January 6, 2011 to Cauayan town is P35,124,719 and  Sipalay City – P72,788.055, a Negros Occidental Office of the Provincial Treasurer report said.

A tax clearance is a requirement for MMC to resume operations, Pinongan said.

MMC based in Sipalay City shut down its operations in 2001.*CPG




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