Section 18
SEC. 18. Section 40 of the same Decree is hereby amended to read as follows: "SEC. 40. Issuance of Mining Lease Contract. Except protests pending at the time of publication, it shall be conclusively presumed that no adverse claim exists if no such adverse claim is filed within fifteen (15) days after the first date of publication of the notice of the application and thereafter, no objection from third parties to the grant of the lease shall be heard. Adverse claims based on mining claims registered on or after the first publication of the notice of application shall not be entertained. After the mining claim has been verified as to its mineral contents and it, actual location on the ground as determined through reports submitted to the Director, the Secretary shall approve and issue the corresponding mining lease contract, which shall be for a period not exceeding twenty-five (25) years, renewable upon the expiration thereof for another period not exceeding twenty-five (25) years under such terms and conditions as provided by law. After the expiry of the renewal period, the operation of the mine may be undertaken by the Government through one of its agencies or through a qualified independent contractor. The contract for the operation of the mine by an independent contractor shall be awarded to the highest bidder in a public bidding held after due publication of the notice thereof; Provided That the lessee shall have the right to equal the highest bid upon reimbursement of all reasonable expenses of the highest bidder. "x x x x"