Marcventures Mining and Development Corp. (MMDC) is dispensing a budget of P29 million for its annual social development programs in its host communities.
The listed company, like other mining firms, are subjected to organize yearly community projects focusing on health, education, livelihood, public facilities, and socio-cultural promotion under the Social Development and Management Program (SDMP) of the Department of Environment and Natural Resources.
An SDMP budget should be 1.5 percent of a mining company’s annual operating cost, the policy requires.
The effectivity of the SDMP should also be based on a series of consultations and focus group discussions with different community leaders in ensuring the needs of the people as well as to improve the living standards in their home and neighboring communities.
As the Philippine Mining Act mandates, SDMP allocations are solely utilized for the “sustained improvement in the living standards of the host and neighbouring communities by creating responsible, self-reliant, and resource-based communities capable of developing, implementing, and managing community development programs, projects, and activities in a manner consistent with the principle of people empowerment.”
Furthermore, community stakeholders also agreed among themselves the guidelines of the proposed allocations to enable the effective and efficient utilization of any allocated funds.
MMDC is a wholly-owned subsidiary of Marcventures Holdings Inc. and has a total of 4,799-hectare mineral production area in the municipalities of Cantilan, Carrascal, and Madrid in Surigao del Sur.
The company specializes in extracting and selling nickel ore properties to third parties from other Asian countries by direct shipment.
