Preamble
WHEREAS, the sustained development of the Surigao Mineral Reservation is of utmost importance to the national economy; WHEREAS, the tax exemption granted to the operator under Paragraph (1) of Section 6 of Republic Act No. 1828, as amended, will expire on 31 December 1983; and WHEREAS, In view of the continued depressed world prices of nickel and cobalt, the development of the Surigao Mineral Reservation is seriously endangered unless the tax incentives granted to the operator are further extended; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order the further amendment of Paragraph (1) of section 6 of Republic Act No. 1828 as amended as follow: