According to press reports, SRMI
and its sister companies, small-scall miners San R Mining and Galeo Equipment and Mining Corp.
It is due to some weather disturbance and the severe decline in prices of metals in the world market," claimed SRMI vice president for public and media affairs Ryan Anthony B.
The SRMI official said he was optimistic that, by March this year, the prices of metals in the world market will improve, as well as the weather condition in the Caraga region, particularly in the concession area of the company.
President Rodrigo Duterte had previously identified SRMI as one of the mining companies responsible for destroying the environment in Agusan provinces.
In October 2005, Basiana said he agreed to execute a supplemental agreement with MMC allowing SRMI, then represented by Erice, to 'undertake technical and geological test, and exploratory operations' in the mining site.
It is a fact that SRMI
is the first nickel mine and the third metal mine in the country to have secured ISO 14001 certification,' she said.
What I can guarantee is that these are all legitimate companies that are not involved in any irregularities, most especially in environment violations, said Poe, in reference to the alleged mining violations faced by Gutierrez's SRMI
According to media reports, SRMI
and its sister companies, San R Mining and Galeo Equipment and Mining Corp.
But after years of litigation and what many perceived as a slap-on-the-wrist penalty, SRMI
paid P7 million in fines for over-extraction in 2007.
Erice, listed as chair and president of SRMI
when the over-extraction case was filed, was quoted in media reports as saying he had already divested his share in the company.
It elevated the case to the Supreme Court, which recently issued a decision finding that, indeed, SRMI
and its partner companies are guilty of excessive extraction of minerals.
Pio Moreno, another Caraga Watch coconvenor, has expressed their group's willingness to intervene in the SRMI
case, following the recent Supreme Court ruling that jolted to life the yearslong case against SRMI
, San R Mining and Galeo.