WHEREAS, under the provisions of Presidential Decree No. 463, offshore areas are also established as mineral reservations;
WHEREAS, considering the depleting nature of mineral resources, the intensive capital requirement for their development, and the dependence of most of our mineral products on the international markets, there is a need for integrated, systematic, and continuing studies, researches and monitoring of the economic, financial, and market factors, as well as the technological changes, affecting the mineral industry in order to support effective formulation of national policies, strategies and plans with respect to mineral reservations;
WHEREAS, the establishment of more mineral reservations in accordance with the provisions of Presidential Decree No. 463 would enable the Government to further promote wise and efficient disposition, development, exploitation, utilization and conservation of our minerals in order to maximize national benefits therefrom, for the present and future generations;
WHEREAS, there is a need to create a governing body to manage and administer mineral reservations, and determine the modes of disposition of the areas covered thereby;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:
SECTION 1. Governing Body. — There is hereby created a Mineral Reservations Development Board, hereinafter referred to as the "Board", composed of the Secretary of Natural Resources as Chairman, and the Secretary of Finance, the Governor of the Central Bank, the Secretary of Justice, the Secretary of Economic Planning, the Chairman of the Board of Investments, and the Director of Mines, as Members. The Director of Mines shall be its Executive Officer. The Board shall be attached to the Department of Natural Resources.
SEC. 2. Domicile and Term. — The Board shall hold office in Metropolitan Manila and shall hold meetings at such places to be designated by its Chairman. The term of office of the Chairman and members of the Board shall be at the discretion of the President of the Philippines.
SEC. 3. Powers and Functions of the Board. In accordance with the provisions and objectives of this Decree, the Board shall:
SEC. 4. Scope of Board Authority. — All existing mineral reservations, including contracts and operating agreements entered into by the Government covering areas therein, shall be subject to the jurisdiction of the Board. Likewise, all mineral reservations that may later be established shall be under the jurisdiction of the Board.
SEC. 5. Transfer of Functions, Powers and Duties. — The functions, powers and duties, together with applicable appropriations, records, equipment, property and personnel of the Surigao Mineral Reservation Board are hereby transferred to the Board.
SEC. 6. Appropriations. — For the purpose of carrying out the provisions of this Decree the amount of Five Million (P5,000,000.00) Pesos is hereby authorized to be appropriated from the funds of the National Treasury not otherwise appropriated, and the same shall be included in the General Appropriations Act to cover the expenses including salaries, wages, allowances and per diems of the Chairman and members of the Board, its staff and personnel.
Any provision of law to the contrary notwithstanding, the Chairman shall receive per diem of three hundred (P300.00) Pesos and the members thereof shall receive two hundred (P200.00) Pesos for every meeting actually attended.
SECTION 7. Assistance. — Other Government offices and Government-owned or controlled corporations shall extend whatever assistance may be needed by the Board, including the detail of its officials and employees to the Board on full-time or part-time basis under such arrangement satisfactory to the Board and the other Government offices or corporations concerned. Said officials and employees may receive allowances and other emoluments, notwithstanding the provisions of any law to the contrary.
Nothing in this Decree or any other Decree or law shall preclude the Government, thru the Board, from negotiating or entering into agreement with any foreign country or government for assistance in terms of equipment, technology transfer and financing for the development of the mineral deposits within the mineral reservations.
SEC. 8. Allocation of Revenues. — Ten per centum (10%) of all royalties and revenues to be derived by the Government from the development, exploitation and utilization of the mineral resources within the mineral reservations as provided for under this Decree shall accrue to the Board and the Bureau of Mines, and shall be alloted for the undertaking of special projects and for the exploration and development of other mineralized Government reservations: Provided, That twenty-five per centum (25%) of said amount shall accrue to the Board while the balance of seventy-five per centum (75%) shall accrue to the Bureau of Mines.
SEC. 9. Repealing Clause. — All laws, decrees, rules, and regulations or parts thereof inconsistent with any provision or provisions of this Decree are hereby repealed or modified accordingly.
SEC. 10. Effectivity. — This Decree shall take effect immediately.
Done in the City of Manila, this 27th day of February, in the year of Our Lord, nineteen hundred and seventy-eight.
(Sgd.) FERDINAND E. MARCOS
President of the Philippines
By the President: (Sgd.) JACOBO C. CLAVE Presidential Executive Assistant