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TerraNova Resources, Inc., a Philippine-registered corporation, has 58% Filipino-owned capital and 42% foreign-owned capital. It signs a concession contract with the State to explore and develop offshore nickel deposits within the Philippine Exclusive Economic Zone. The government approves the concession. After eight months, a Filipino minority investor challenges the validity of the concession, arguing that TerraNova’s ownership structure does not satisfy the constitutional requirement for private participation in exploration, development, and utilization of natural resources. (a) Identify the controlling constitutional doctrine governing exploration, development, and utilization of natural resources and the ownership requirement. (b) Apply the rule to TerraNova’s ownership structure and determine whether the concession complies with the constitutional requirement. (c) If the Filipino ownership is nominal and foreigners exercise real control through a trust or nominee arrangement, discuss how the courts would evaluate compliance and what consequences could follow.