PHILIPPINE MINING DEVELOPMENT CORPORATION

About the Company

The PMDC (then NRMDC) was incorporated with the Securities and Exchange Commission on July 4, 2003, pursuant to an authority contained in a Memorandum of the President of the Philippines dated April 9, 2003.

The PMDC is a wholly-owned and controlled government corporation with an initial authorized capital stock of One Hundred Million Pesos (100,000,000.00), 55% of the equity of which was from the Natural Resources Development Corporation (NRDC), and 45% from the Philippine National Oil Corporation – Energy Development Corporation (PNOC-EDC)