3rd Mar 2014 09:49
LONDON (Alliance News) - Metals Exploration PLC Monday said the Supreme Court of the Philippines has dismissed a writ against the company alleging it was breaching environmental laws.
In a statement, Metals Exploration said the so-called "writ of Kalikasan" against its FCF Minerals Corporation subsidiary, which owns the Runruno gold project in the Philippines, was the second attempt to enforce this type of writ.
A writ of Kalikasan is a legal remedy under Philippine law which provides for the protection of a person's right to "a balanced and healthful ecology in accord with the rhythm and harmony of nature," under the Philippine constitution.
According to the company, the court had noted that the petitioners had tried to establish environmental damage that prejudices the life, health or property of inhabitants in the area.
"Once again, FCF believe these claims are driven by vexatious intent, are entirely unfounded and the petition is based on significant inaccurate facts," Metals Exploration said.
"Our focus had been marginally diverted whilst we sought to dismiss these writs and now we have successfully achieved this we can continue the important work of putting Runruno into production, and always mindful of our duty of care to the environment as we progress," Chairman Ian Holzbrger said.
Metals Exploration shares were up 6.7% at 5.6 pence Monday morning, one of the biggest gains on the London market.
By Steve McGrath; [email protected]; @SteveMcGrath1
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