The contractor may terminate in writing the secretary of the free trade agreement if, in his view, the mining project is no longer economically viable, although he must exercise due diligence to remedy the cause or situation. The secretary may accept such a resignation as long as the contractor has fulfilled all of his financial, tax or legal obligations. The authorisation may be subject to an agreement to share mineral production, a joint enterprise agreement, a co-production agreement or a financial or technical assistance agreement on the authorization area granted if the authorization meets the conditions and conditions of such an agreement, provided that the exploration period covered by the exploration permit is included in the exploration period of the mineral contract or the financial or technical assistance agreement. A career permit has a renewable term of five (5) years for similar periods, but no more than twenty-five (25) years. For areas covered by a mineral agreement or financial or technical assistance agreement, no career permits are granted or granted. However, a mineral agreement or a contracting financial technical assistance has the right to obtain and remove sand and gravel and other unconsolidated materials, without authorization, in the area covered by the mining agreement, for exclusive use in the mining industry: provided that the monthly reports on the materials obtained are submitted to the Office of the Mining Regions concerned. – In addition, this right is co-seeded with the expiry of the agreement. In the case of a foreign contractor, it reduces its capital to 40% (40%) partnership, association or co-operative. Once this requirement has been fulfilled by the contractor, the secretary approves the transformation and implements the mineral-sharing agreement.
The contractor may at any time choose, during the duration of the ESTVa, to transform it into an MA if the economic viability of the market, after having duly communicated to the secretary, is deemed insufficient to justify large-scale mining activities. However, the AD only applies for the remaining period of the original agreement. The recovery of the government`s share in the financial or technical assistance agreement begins after the financial or technical assistance contractor has fully recovered its expenses before operations, exploration and development expenses, including. Proposed mineral agreements (MA) are presented in the region where the areas of interest are located, with the exception of mineral reservations submitted to the Mines and Geosciences Bureau (MGB). In implementing these agreements, the contractor also has: (a) assistance to the development of its mining community, to the promotion of the general interest of its inhabitants and to the development of scientific and mining technologies; b) encourage Filipinos to participate in all aspects of mining; (c) prefer to use local scientific and technical products, services and resources in the mining industry; and (d) prefer to employ Filipino citizens, as long as they are qualified to carry out the appropriate work, with appropriate efficiency and without risk to the safety of operations.