By the end of 2026, the Runruno Gold Project in Nueva Vizcaya will cease operations following the suspension of the Dupax Exploration Permit by the Mines and Geosciences Bureau (MGB), FCF Minerals Corp. confirmed on Wednesday, 18 February.

The company said the halted exploration program removed what management described as the project’s “last operational lifeline,” effectively sealing the mine’s fate as existing gold ore reserves near depletion.

More than 1,500 workers and linked livelihoods across Nueva Vizcaya will be directly and indirectly affected, including employees, contractors, suppliers, transport providers and community-based enterprises dependent on the mine’s operations.

Employees were formally notified earlier this week of the planned closure. Management cited the depletion of Runruno’s remaining reserves and the inability to complete exploration activities in Dupax, which had been intended to extend the mine’s life.

Runruno has been operating on its remaining ore body, with the Dupax exploration program viewed as the only viable pathway to identifying additional economic reserves that could be processed through the existing facility. The suspension of the exploration permit halted that program.

“With Dupax exploration suspended and no ability to complete drilling to define new economic reserves, the firm will close having fully depleted its current ore body,” said Lorne Harvey, general manager of FCF Minerals. “Mining is finite by nature. Without reserve replacement, operations must end.”

Beyond employment losses, the shutdown will end local government revenue shares, national tax contributions, royalty flows and community development funding tied to production.

Management said it had hoped exploration success in Dupax would preserve jobs and sustain economic contributions to host communities. However, without regulatory clarity allowing the completion of the exploration program, reserve replacement is no longer feasible within the project’s remaining timeline.

Industry analysts noted that the situation underscores the commercial sensitivity of producing mines operating near reserve depletion. Exploration continuity, they said, is critical to sustaining operations, and regulatory interruptions at that stage can have irreversible consequences.

The Philippine mining sector has been positioning itself as a destination for responsible mineral development amid rising global demand for gold and critical minerals. Market observers cautioned that enforcement actions affecting life-extension programs of producing assets may heighten perceptions of jurisdictional risk and influence future capital allocation decisions.

FCF Minerals reiterated its commitment to comply with Philippine laws and environmental standards throughout the closure process. The company said it would implement a structured and responsible mine closure program in accordance with regulatory requirements.

“Our responsibility extends to our employees, host communities, shareholders, and government stakeholders,” Harvey said. “We will ensure that Runruno’s closure is carried out safely, responsibly, and in full compliance with Philippine regulations.”

Further disclosures will be issued as the transition toward closure progresses.