The listed miner said it signed a Memorandum of Agreement with the Indigenous Cultural Communities/Indigenous Peoples of the Mankayan Ancestral Domain, signifying the grant of Free and Prior Informed Consent for the renewal of Mineral Production Sharing Agreement No. 001-90-CAR.
Lepanto first applied to renew the permit in June 2014, according to its latest annual report.
Its shares last closed at P0.18 per share, up 1 percent since the start of 2026 and over 60 percent during the past 12 months.
Key approval pending
The agreement will take effect once the National Commission on Indigenous Peoples issues a Certification Precondition, which will then be submitted to the Mines and Geosciences Bureau as part of the renewal process.
The mining agreement covers nearly 949 hectares in Mankayan, Benguet, where subsidiary Far Southeast Gold Resources Inc. is a co-contractor.
Community benefits
Lepanto said the agreement with the indigenous communities will have a term of 25 years and includes a monthly royalty equivalent to 1 percent of gross output.
It also provides a one-time payment of P110 million for community projects, including the construction of an indigenous peoples’ building.
The company said the agreement moves the long-pending renewal of MPSA No. 001 a step closer to completion, although final approvals from regulators are still required.
2025 turnaround
Lepanto to mine gold and silver from its Victoria and Teresa deposits while pursuing exploration and upgrades
It posted a strong turnaround in 2025, with net income surging to P1.45 billion from P102 million a year earlier as revenue climbed 58 percent to P4.43 billion on higher gold production and stronger metal prices.
—Edited by Miguel R. Camus
