Ryan Anthony B. Culima, public and media affairs spokesman and consultant of SR Metals Inc., said the company started early this week hiring additional workers and employees.

Provincial and municipal officials of Agusan del Norte unanimously expressed gratitude to SR Metals Inc. headed by its president, Miguel Alberto V. Gutierrez, for boosting the employment-generation programs of President Arroyo, provincial government and municipal government.

The resumption of operation at the 572.64-hectare mining area of SR Metals Inc. is also a big help in the tax-revenue generation effort of the national, provincial, municipal, and barangay governments, Culima said.

In terms of national and local revenues, particularly collection if extraction fees, excise taxes, PPA dues, and 12 percent VAT, SR Metals Inc. had paid a total of P247.5 million to the government in 2007.

The mining firm also initially contributed in 2007 some P24.6 million for the construction of roads, holding of socio-cultural activities, community social assistance and educational and sports activities under the Social Development Management Program (SDMP).

The company also built barangay health centers, school buildings, water system, street lighting, barangay multipurpose gym, solar driers, communication facility development, flood-control system, seamen’s schools and a cooperative facility.

However, SR metals Inc. stopped its operation four months ago in Barangay La Fraternidad here because the management is facing a legal battle. It is also applying for a permit for large-scale mining operations. It has been conducting small-scale mining operation since March 2, 2006.

Last March 10, a 25-year operation Mineral Production Sharing Agreement (MPSA No. 261-2008-Xlll) was signed between the Department of Environment and Natural Resources, represented by Secretary Jose L. Atienza Jr., and SR Metals Inc., represented by president Gutierrez.

Under the 22-page MPSA, the company is to undertake the development and commercial utilization of nickel, cobalt, iron and other associated mineral deposits existing in the contract area, with all necessary services, technology and financing to be furnished or arranged by the contractor in accordance with the agreement.

"The total value of production and sale of minerals derived from the mining operations contemplated therein will be accounted for and divided between the government and the contractor (SR Metals)," the MPSA stated.

SR Metals Inc. is eyeing to extract some two million tons annually in its operation in La Fraternidad, it was learned.