Palace forms mining council
Palace forms mining council
First posted 08:30pm (Mla time) Oct 14, 2005
By Lira Dalangin-Fernandez
Inquirer News Service
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PRESIDENT Gloria Macapagal-Arroyo has created the Minerals Development Council (MDC) and given it the task of overseeing the development of the country’s mineral resources.
Executive Order 469 creating the MDC aims to draw in some four billion to six billion dollars in investment in the country’s mining industry.
”I hope that with this executive order, indeed, we will all find the Philippines a good place to do mining business in,” she said.
The Council will be composed of key officials from the Departments of Trade and Industry, Finance, Environment and Natural Resources, and the National Economic Development Authority.
Mining is experiencing renewed interest from foreign firms after a Supreme Court decision allowed them greater participation in the industry