1 Sec. 50. Identification o f mining projects. - With the vote o f two-thirds o f all the 2 members of the Council, to open areas for mining operations, the Bureau shall prepare 3 the necessary information sheets on the said area for potential investments. The Bureau 4 shall call for proposals to develop the mining area based on the Mineral Management 5 Plan. 6 Sec. 51. Pre-screening o f mining proposais. - Mining proposals shall be pre- 7 screened by the Bureau according to the National Industrialization Program and Mineral 8 Management Plan upon the submission of interested parties of the following: 9 10 11 a) demonstration of financial capability; b) proven social and environmental track record, including those of its officers and directors; 12 c) clear corporate structure and ownership; 13 d) proof of physical office and operations of the proponent within the 14 Philippines; 15 e) identification of potential investors; 16 f) mining project feasibility; 17 g) mining operation work plan; 18 h) proposed operation, mitigation and prevention methods and/or equipment; 19 i) capacity to process minerals; 20 j) intent to develop downstream industries; 21 k) intent to contribute to local community development; and 22 I) Submission of the Environmental and 23 Social Impact Assessment and Mitigation Plan 24 The Council shall fix the minimum capitalization that any bidder must satisfy based on 25 its determination of the expected economic returns and the potential negative impacts 26 from mining, upon reference to an independent study proposing such minimum 27 capitalization. 28 Sec. 52. Environmental and Social Im pact Assessment and Mitigation Plan. - The 29 contractor shall submit an Environmental and Social Impact Assessment and Mitigation 30 Plan (ESIAMP) containing the means, methods, processes and schedule by which the 31 contractor shall conduct its operations and mitigate negative environmental and social 32 impacts. Social impact shall include possible impacts on the enjoyment and exercise of 33 human rights, cultural rights. The ESIAMP shall include plans relative to mining 34 operations; the rehabilitation, regeneration and restoration of mineral areas; slope 35 stabilization 36 development and water conservation; the relocation and return of displaced population; of mined out and tailings 24 covered areas; aquaculture, watershed