MANILA, Philippines?The auction date for the 729-hectare, central gold rush area in Mt. Diwalwal, Compostela Valley, was moved for a second time to July 30, according to a resolution released by the Philippine Mining Development Corp. (PMDC).

According to PMDC Resolution BD-24-10, which was posted on the state-run company's website late Monday, the bidding was moved due to requests made by the pre-qualified bidders.

The pre-qualified bidders apparently sought additional time "to conduct due diligence examination of the area and in deference to the possible policy that the incoming administration would like to pursue for the exploration and development of the 729 area."

Philex Mining Corporation, the country's largest mining firm, is one of four companies that have pre-qualified for the June 7 bidding of the 729 parcel. The three others are APC Group Inc./South China Resources Inc., Carrascal Nickel Corporation, and infrastructure giant FF Cruz & Co. Inc.

The submission and opening of bids for the 729 parcel was originally set for May 14. However, the PMDC deferred the auction date to June 7 "in view of the request of the pre-qualified bidders and to give the said bidders sufficient time to conduct due diligence on the area."

The PMDC is the agency tasked to facilitate mining development at the 8,100-hectare mineral reservation in Mt. Diwalwal.