Logo taken from COMP website
MANILA – The Chamber of Mines in the Philippines (COMP) and the Philippine Nickel Industry Association (PNIA) have lauded the decision of President Rodrigo Duterte to lift the nine-year moratorium on new mining projects.
“We welcome the lifting of the moratorium on new mining projects --in place for nearly nine years-- in this time of great national difficulty as a result of the Covid-19 (coronavirus disease 2019) pandemic,” COMP said in a statement Thursday.
COMP added the new mining projects will generate new revenues for the government in the form of taxes and fees, as well as royalty fees while increasing export revenues and job generation, especially in the rural areas.
“The removal of this policy roadblock will undoubtedly help encourage both local and foreign investments into the country. Since 2010, investor interest in the Philippines has declined. Executive Order 130 will help bring the Philippines back on the investment map,” the group said.
Meanwhile, PNIA said the lifting of the moratorium on new mining agreements recognizes the role of the mining industry in economic recovery and development.
“PNIA has always maintained the industry’s contribution to countryside development by providing employment opportunities and livelihood, and ensuring the sustainability of our host communities,” it said in a separate statement.
Both groups said they will continue to adhere to the highest environmental and social standards to mitigate the impacts of mining on the environment and the host communities. (PNA)
