Section 8
SEC. 8. Section 37 of Presidential Decree No. 463 is hereby amended to read, as follows: "SEC. 37. Program of Work.- A claim owner shall upon the filing of an application for mining lease, undertake exploration, development and/or mining activities thereon in accordance with the approved five-year program of work: Provided, That within the said period of five years, the mining area shall be placed in actual commercial production: And provided, further, That failure to do so within the period aforestated shall constitute automatic abandonment of the mining claims. "In pursuance of the aforestated five-year program of work, the claim owner shall, at the start of every calendar year and during the existence of the mining lease, submit to the Bureau of Mines and Geo-Sciences for the approval of the Director an annual work program describing in detail the kind and nature of mining activities to be undertaken thereof for that particular year. Any deviation from the approved work program shall be with the approval of the Director. "Holders of existing mining leases shall submit a revised or updated work program within six (6) months from the date of approval of this Decree. "The Regulations shall prescribed in detail the contents of the work program.''