Starting in 1961 until 1998, Benguet Corporation (BC) explored and evaluated the Ungay-Malobago deposit. BC later assigned its rights and obligations to TVI pacific, Inc. (TVI). In November 1998, TVI entered into a joint venture agreement with RRMI which purchased the interest of TVI in December 1999.

The Rapu-Rapu Polymetallic Project (RRPP), or the Project, thus progressed from exploration to project development; which included resource drilling, metallurgical test work, engineering and environmental studies, and community development and awareness programs.

The DENR granted the Project an environmental compliance certificate (ECC) on 12 June 2001 after the environmental impact assessment was completed in 2000.

In March 2002, the Mines and Geosciences Bureau (MGB) approved the Project’s environmental Protection and Enhancement Program (EPEP). The Project’s definitive feasibility study was approved on 27 September 2002.

Project construction for the Rapu-Rapu Processing, Inc. (RRPI), which was established to process the lump ores extracted by RRMI, started in September 2003. Pre-production stripping commenced in February 2005. The gold ore was extracted beginning July 2005.

On October 11, 2005, the events pond of the gold plant overflowed, releasing cyanide into the stram and coast of barangay Binosawan. Another incident followed on October 31, 2005, when, due to heavy rains, cyanide and heavy metal-laden tailings from the LTSF were released into the Maypajo Creek and coast of barangay binosawan. Following these incidents, RRMI/ RRPI voluntarily stopped its operations.

As a result of the foregoing, DENR suspended the Project’s wastewater discharge permit and use of cyanide on November 9, 2005. Subsequently, the Pollution Adjudication Board (PAB) issued the Project a Cease- and Desist Order (CDO).

After complying with the conditions required for the resumption of Company operations, the PAB lifted its CDO in February 2007. A month after, RRMI/RRPI started the extraction and processing of base metal ores.

In October 2008, three shareholders—LG International, Korea Resources Corp., and Malaysia Smelting Corp. infused capital into the Project.