CBNC turns over P23.8M financial aid for rice purchase to prov’l government

Monday, May 11, 2020

Coral Bay Nickel Corporation (CBNC) turned over ₱ 23.8 million financial assistance to the Provincial Government of Palawan for the rice subsidy of Palaweños affected by the COVID-19 pandemic.

The amount was part of the agreement between the Province and CBNC where the latter agreed to help in purchasing rice from the National Food Authority (NFA) for distribution to the affected families.

Gov. Jose Chaves Alvarez who was present during the turnover said he was glad that there are companies like CBNC and RTN who willingly help the Palaweños especially during this time of pandemic. Provincial Treasurer Lino Mondragon received the check for the Province. Others who were present during the turnover were Atty. TJ Matta and Provincial Administrator Atty. Bolusa and some department heads.

Estimated 38,000 households in different towns of Palawan are expected to benefit from the assistance by CBNC.

“With the amount of P23.8 million assistance of CBNC to the Provincial Government ay medyo marami rin ang maaaring matulungan at mag-benefit dito. In fact, ‘yong total amount na P23.8 million ay expected to benefit over 38,000 households so iyan ang pwedeng maitulong sa ibang munisipyo na medyo hirap din sa kasalukuyan,” he said.

Llacuna said the assistance is pursuant to the memorandum issued by the Mines and Geosciences Bureau (MGB) on March 27, which allows mining companies to realign unutilized Social Development and Management Program (SDMP) funds to support impact and non-impact communities affected by the community quarantine due to covid-19 pandemic.

Llacuna said that the financial assistance also serves as CBNC’s gift to fellow Palaweños surviving the crisis.

“We are glad that we are helping our province-mates through this Bayanihan to Heal as One Act. Ito ay mula sa realignment ng ating SDMP funds as approved by the MGB – to realign the unutilized SDMP funds to help those affected by the COVID-19 pandemic. Ito rin ay regalo ng kompanya sa ating mga kapwa Palaweño na nakakaraos sa krisis na ito,” he said.

Aside from CBNC, Rio Tuba Nickel Mining Corporation (RTNMC) also extended financial assistance to the provincial government under a memorandum of agreement.

The agreement is covered under Section 35 of the Local Government Code (LGC), which states that local government units (LGUs) may enter into joint ventures and such other cooperative arrangements with non-governmental organizations to engage in the delivery of certain basic services, capability-building, and livelihood projects.

Meanwhile, in a press release published by MGB-4B on May 6, Palawan mining companies have already extended various assistance from rice, food packs, personal protective equipment, medical supplies amounting to P 46. 3 million. CBNC being one of these companies has spent P 33.1 million as of this writing.

Business Address

Rio Tuba Export Processing Zone, Brgy. Rio Tuba, Bataraza, Palawan   

Mailing Address:
25/F NAC Tower, 32nd Street, Bonifacio Global City, Fort Bonifacio, Taguig City 1630


Contact Numbers

     Phone (02) 8548 7110
     Fax (02) 8856 3930