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Premiere Horizon invests in Palawan mining firms

Mining News - Published on Thu, 15 Mar 2018

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Business Mirror reported that board of Premiere Horizon Alliance Corp has approved its equity investment in Palawan Star Mining Ventures Inc and Pyramid Hill Mining Industrial Corp, reaching up to 85 % of the said firms.

The company said in its disclosure that “The investee companies are holders of mineral production sharing agreements covering approximately 10,384 hectares, containing probable commercial quality limestone deposits located in the mineralized area of Southern Palawan.”

The investment shall be used to fund the pre commercial development that includes cement production, beneficiated and agricultural lime production and bio mass plantation projects.

The company said it envisions that the targeted businesses will assist the country’s sustainability and inclusivity objectives in general, and the province of Palawan in particular, specifically in the areas of infrastructure, renewable energy and food security.

The total pre commercial development cost is estimated to be up to PHP 500 million, which will include generation of limestone resource identification and validation reports, preparation of project feasibility studies, environmental protection programs and community development plans and programs, securing of government regulatory permits and licenses, and other relevant development project components.

PHA said that “The company is committed to raise the funding for the said development cost through an initial equity infusion and through a combination of debt and additional equity as it may deem necessary or feasible.”

Premiere Horizon was incorporated on January 13, 1988, with a primary purpose to engage in business activities relating to entertainment, gaming, hotel and leisure.

Source :

Posted By : Rabi Wangkhem on Thu, 15 Mar 2018
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