A plan to mine pozzolan in Pagan in the Northern Marianas will finally push through after the company involved reached a 4.8 million US dollar settlement agreement with the government.
Pagan, Northern Marianas Islands Photo: Wikipedia
JG Sablan Rock Quarry Incorporated began a legal battle with the Department of Public Lands in 2006, when the department terminated its mining permit.
It was agreed at a settlement hearing this week that the company would get a new permit, at a cost of 100,000 US dollars and would be valid for 20 years.
The government will receive royalty fees of either 100,000 US dollars or 8 percent of the gross per year, whatever is the higher.
After the 4.8 million US dollars has been paid, the royalty rate will drop from 8 to 3 percent.
