After suffering from major regulatory impediments for nearly a decade, it may take some time before the mining sector of the Philippines, one of the most highly mineralized countries in the world, to recover despite the government’s recent policy decisions that favor the industry. On Thursday,...
After enduring years of intense scrutiny under the Duterte administration, the mining sector is now at the receiving end of a series of surprisingly positive policy decisions and considerations. The government is now considering lifting the ban on open-pit mining method more than two...
After shepherding the enactment of new laws that would spur economic recovery, the Duterte administration lifted a nine-year moratorium on new mining projects with the recent issuance of Executive Order Number 130. EO No. 130 repealed Section 4 of EO No. 79 issued by then President Benigno Aquino...
Borongan Bishop Crispin Varquez said the lifting of the moratorium on new mining projects would further “exploit our already much-wounded land." BORONGAN CATHEDRAL/MB “New mining operations will only worsen our environmental crisis on top of this health pandemic,” CBCP News quoted Varquez'...
Despite EO 130 The mining sector will remain under scrutiny despite President Rodrigo Duterte's recent decision to lift the moratorium on new mining operations, a top government official said. As a start, Environment Secretary Roy Cimatu said the government is considering imposing more...
The mining sector lauded President Rodrigo Duterte’s latest move to issue Executive Order (EO) 130, lifting the moratorium on new mining projects under EO 79 of the Aquino Administration. Photo credit: https://www.facebook.com/ChamberOfMinesofthePhilippines In a statement, Chamber of Mines of the...
The Office of the President (OP) was urged to cancel the ‘stay order’ issued on mining companies with pending suspension and closure orders. This as such move will not do anything for the Philippine economy. “We demand that the Office of the President immediately cancels this ‘Stay...
The Philippine government has allowed the mining companies that were suspended and ordered closed by former Environment Secretary and late Regina Paz Lopez in 2017 to continue operating. Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano said on Tuesday that the government has decided to...
Improved world metal prices helped listed firm Atlas Consolidated Mining and Development Corporation (Atlas Mining) to recover and book a net income of P118 million in 2020, coming from a net loss of P565 million in 2019. Atlas Mining told the local bourse that such a recovery is attributed...
Consunji-led Semirara Mining and Power Corporation (SMPC) will funnel P4.0 billion capital expenditures (capex) for its businesses this year, primarily for the purchase of mining and support equipment for its coal mining venture. In a statement to the media, the company emphasized that P2.9 billion...
Thanks to higher ore export prices, listed mining firm Nickel Asia Corporation has booked a surge in its income last year despite the COVID-19 lockdown restrictions. In a regulatory filing, Nickel Asia informed the Philippine Stock Exchange (PSE) that it reported an attributable net income (net of...
The Securities and Exchange Commission (SEC), The Philippine Stock Exchange, Inc. (PSE) and Philippine Depository & Trust Corp. (PDTC) are working closely together to investigate the trading of unissued and unlisted shares of Abra Mining and Industrial Corporation (AR). In a joint statement,...
