AbaCore gets IP consent to monetize coal assets

Listed holding company AbaCore Capital Holdings Inc. is a few steps away from cashing in its coal asset in Surigao del Sur after obtaining a necessary regulatory approval.

AbaCore said in a disclosure its subsidiary Abacus Coal Exploration and Development Corp (Abacoal) secured a certification of precondition from the National Commission on Indigenous Peoples.

This means Abacoal complied with the procedure and process requirements in securing the free and prior informed consent of the Manobo indigenous cultural communities residing in the towns of Marihatag, Cagwait, Tago and Bayabas.