Minding our minesBig news - with almost a trillion dollars worth of minerals in the ground the Philippines are on the cusp of an economic revolution...
https://www.philstar.com/opinion/2021/01/06/2068432/minding-our-mines
Andrew J. Masigan (The Philippine Star ) - January 6, 2021 - 12:00am
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Although open pit mining has been stigmatized by local environmental groups, it is actually an accepted global practice in extracting ores that sit near the surface. It is used when the mine is structurally unsuitable for tunneling. The US has over 1,800 open pit mines in operation, all of which are proven safe and cost-effective. There are only two open pit mines in the Philippines and both have been declared safe and environmentally sound.
As for the mining companies closed by the DENR, it is only fair that those that have rectified their deficiencies and those which are in compliance with government’s stiff environmental standards be allowed to resume operations. Companies that haven’t started operations yet, but were caught by the ban, should also be allowed to operate provided they comply with government’s guidelines. In particular, the mines in Tampakan, KingKing and Silangan, all in Mindanao, should be activated given their potential to generate some $8 billion in exports earnings. This will go a long way towards filling our budget gap.
Based on DENR estimates, opening up the mining industry can unlock 781,750 jobs that will benefit 1.4 million families. Best of all, it will generate a whopping P83.73 billion in additional revenues for government. This is more than enough to fire-up the economy and put her back in the fast pace of growth.
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