Mining industry to face higher taxes, stricter environmental measures — PNoy

Published by rudy Date posted on March 21, 2012

The national government intends to impose far heavier taxes and tougher environmental restrictions on the mining industry, President Benigno Aquino said Tuesday.

Aquino told Agence France Presse (AFP) in an interview that a review of the country’s mining policies was close to being finished, and the government would likely require all mining companies to start paying the government a “hefty” percentage of revenues.

Aquino said the government currently only received a two percent excise tax.

“We are now reviewing what is fair… we get two percent of the profit and 100 percent of the risks. That doesn’t seem fair,” he said.

Aquino said the government was looking at efforts by the Australian government to generate more money from the mining sector, where a 30-percent tax on extraordinary profits of coal and ore producers will start in July.

He said a 50-50 revenue sharing agreement was even being considered, although he emphasized the policy had not been finalized and refused to signal what percentage the government was hoping for other than a “fair share”.

The Philippines is believed to have some of the biggest mineral reserves in the world — the government estimates the country has at least $840 billion in gold, copper, nickel, chromite, manganese, silver and iron. — Agence France Presse

June 2025

Philippine Environment Month!
“Action for Nature, for the Future!”


Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

Monthly Observances:

  1 Jun – World Day of Parents

  5 Jun – World Environment Day 

  7 Jun – World Food Safety Day 

  8 Jun – World Oceans Day

12 Jun – World Day Against
Child Labour

15 Jun – World Elder Abuse Awareness Day 

16 Jun – International Day of Family Remittances 

17 Jun – World Day to Combat Desertification and Drought

20 Jun – World Refugee Day 

25 Jun – Day of the Seafarer 

27 Jun – Micro-, Small and Medium-sized Enterprises Day

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

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