Australian firms welcome lifting of PH ban on new mining...
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Australian firms welcome lifting of PH ban on new mining projects
posted May 04, 2021 at 07:55 pm
Australian companies welcomed the reopening of the Philippine mining sector, saying it will augur well for economic growth.
Ambassador to the Philippine Steven Robinson stressed that mining firms today use technology that offers sustainability and sound practices to protect mining areas from degradation, while extracting minerals that are beneficial to society.
“Every lifting of the ban is a really positive step forward for the Philippines. Because we think that the mining industry done responsibly, using the most modern equipment, the most modern techniques that subscribe to the world standards of mining, really benefit the Philippines,” he said in a virtual briefing organized by the Australian Embassy.
The Philippines is considered fifth most mineralized country in the world, with the third largest deposits of gold, 4th for copper, 5th for nickel and 6th for chromite. The nation’s largely untapped mineral resource assets are valued at around Au$1.32 trillion.