Mining

THE GOVERNMENT met its mining investment target last year but the result was down a quarter from 2011 due to a halt in the issuance of new permits.

MINING investment inflows in 2013 may reach $1 billion as earlier predicted in a fitting follow-up to last year’s performance that saw actual mining investments in priority mining projects in various stages of development reaching $791.69 million, Director Leo Jasareno of the Mines and Geosciences Bureau (MGB) of the Department of Environment and Natural Resources…

MINING FIRMS operating in the Philippines under financial or technical assistance agreements (FTAA) must pay taxes throughout the duration of their contract with the government, even during the cost recovery period provided by law, the tax bureau has said.

The Mines and Geosciences Bureau (MGB) is looking at 19 new mining projects to advance to commercial production within the year following successful exploration activities.

The steep drop in actual mining investment during the first half of this year compared to the same period in 2011 forced the government to slash its target for the second half to $349 million (P14.360 billion) from the original $1.1 billion (P45.262 billion).

MANILA – The government has formed an inter-agency committee that would look into illegal small-scale mining activity and gold smuggling, the Mines and Geosciences Bureau said on Tuesday.

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MANILA, Philippines – President Aquino has approved the revised implementing rules of Executive Order (EO) 79 earlier submitted by the Mining Industry Coordinating Council (MICC) in response to concerns raised by stakeholders on the original regulations issued by the Department of Environment and Natural Resources (DENR).

MANILA, Philippines – Two of the several contentious aspects of the Aquino government’s policy on the mining industry have yet to be finalized after the mining council released the rules and regulations on Tuesday, September 11.

Mines and Geosciences Bureau (MGB) director Leo Jasareno in phone interview said that the implementing rules and regulations of Executive Order 79 or the mining policy “defined and made clear” areas that will be banned for mining. These areas include prime agricultural lands and island ecosystems.

THE GOVERNMENT yesterday released long-awaited rules for the implementation of its new mining policy which specifies, among others, areas closed to miners and guidelines for the regulation of small-scale operations. Philex Mining faces penalty for Padcal spillAustralian firm gets green light for Philippine minesMining policy rules finalized this weekCGA Mining earnings drop by 90.8%Mining industry…

MANILA, Philippines – The Department of Finance (DOF) said it would study the proposal of the International Monetary Fund (IMF) seeking the adoption of a seven percent single levy for all mining operations in the Philippines.

The government said it is studying the creation of a single mining contract and other mineral industry reforms suggested by the International Monetary Fund.

Mount Diwalwal in Compostela Valley epitomizes what happens when the government allows the unhampered operations of so-called “small-scale mining” which in truth is controlled by big-time operators.

Provisions in President Aquino’s recently released Executive Order (EO) that seeks to increase taxes on the mining sector and extend a ban on new permits may deter investors, the country’s biggest foreign trade group said. The Joint Foreign Chambers (JFC) in a statement said EO 79 that fleshes out mining policy, details of which were…

MANILA, Philippines – The country’s new mining policy will ensure an equitable share in revenues for local government units (LGUs) as well as give them a voice in the soon-to-be-formed council that will prepare the implementing rules and regulations for Executive Order 79 which seeks to give the industry a clearer direction. The council is…

A useful principle to remember in governance is the aphorism “The enemy of the good is the perfect.” President Aquino could have waited another six months, maybe a year, and perhaps issued a better executive order on mining. He could have conducted another set of consultations with stakeholders and delayed releasing Executive Order No. 79.

A day after releasing the much-anticipated Executive Order defining President Aquino’s policy on the mining industry, top Palace officials issued claims of getting positive reception from the stakeholders of mining sector on EO 79 while effectively blocking vigorous protests against it.

MANILA, Philippines – The adoption of a seven percent single levy for all mining operations – combining excise and royalty taxes – as well as the phasing out of mineral production sharing agreements (MPSA), where the government only collects two percent excise taxes, and a 10 percent “cash-flow surcharge” is being recommended by the International…

The Joint Foreign Chambers (JFC) welcomes the release of the new Executive Order (EO) implementing reforms in the Philippine mining sector, issued under the authority of the Office of the President and appreciates it as a constructive framework upon which responsible mining can move forward in the Philippines.

MANILA, Philippines – Mining industry players welcomed yesterday the signing of an executive order on a new mining policy, calling it a positive step toward full development of the mineral industry.

MANILA, Philippines – Mining will be banned in protected areas and in tourism sites – including Palawan and Boracay – while no new permits for mining operations will be issued until Congress passes a new revenue sharing scheme that is more advantageous to the government. The new mining policy is contained in Executive Order 79…

Even before the Palace releases today the details of the Executive Order (EO) on mining signed by President Aquino last Thursday, various groups assailed it as being no different from previous policies that do not address the root of the conflict between mining operations and the communities where the projects are located.

Manila, Philippines – The Philippines offers several investment opportunities for mining firms but key risks which can curtail projects from taking-off remain such as an ongoing moratorium on issuance of permits, provincial bans on mining and new rules in getting the indigenous people’s consent for a project, according to a British firm which specializes in…

MANILA, Philippines – Mining will be banned in protected areas and in tourism sites – including Palawan and Boracay – while no new permits for mining operations will be issued until Congress passes a new revenue sharing scheme that is more advantageous to the government.

Miners should expect to pay higher occupational and application fees of up to a “thousandfold more” under the new mining policy recently submitted by the Department of Environment and Natural Resources (DENR) to the Office of the President, Environment Secretary Ramon Paje said on Friday.

Filipino miners still work under conditions that are a throwback to the previous century, a report by local and international labor groups has said.

MANILA, Philippines – Filipino miners still work under conditions that are a throwback to the previous century, according to report by local and international labor groups.

The mining industry suffered a P10.4-billion foreign direct investment (FDI) outflow last year due to the suspended issuance of mining permits by the Department of Environment and Natural Resources (DENR) for more than a year and uncertainties in the mining policy that will have shaped the industry’s development under the Aquino administration.

ALTHOUGH the mining industry’s contributions to economic growth have been cited as among the largest, the industry’s full impact particularly on employment and the domestic economy continues to be limited, according to an assessment made by the National Economic and Development Authority (Neda).