The Philippine Government unlikely getting the upgraded target of $2.8 billion mining investment target for this year, particularly in light of ongoing industry concerns that have yet to be addressed.
Philippines Chamber of Mines president Benjamin Philip Romualdez said more than $ 1 billion in investments for the year was a more feasible figure, given the current industry environment. "The government has to do its part. We can't just keep writing checks. It has to issue permits the mining companies needed,if it wants to get more investment." The Chamber president told reporters on the sidelines of the Philippine Business Conference.
The Mines and Geo-sciences Bureau last month hiked its investment target for the year 2011 to $2.8 billion from earlier projected $1.4 billion, in anticipation of the entry of Chinese investors into the industry within the year. Romualdez said, however, that thousands of permits had yet to be issued to mining firms, preventing them from operating in full force and plunking more investment into the country.
To encourage the entry of more investments, the government should undertake "structural reforms" to correct fundamental errors that give rise to more flaws that cast a bad light on the Philippine mining industry. The fundamental, structural problem in the Philippine government. Some people calling for a review of the economic provisions of the Constitution. What is important is structural review. We cannot just make temporary remedy at the so-called fundamental flaws," he added.
The ban on open pit mining in most provinces, which run against to the national government's thrust to encourage the inflow of more mining investors, was just one of the many problems that needed to be ironed out as soon as possible of time.
The Department of Environment and Natural Resources should also speed its issuance of necessary permits to mining operators. While DENR committed to accelerate permit issuance, he said what the industry needed was action rather than mere commitments. The government should also help beef up the security at mining installations, in light of the attacks on mining firms in Claver, Surigao del Norte recently. In the event the police increased visibility in mining installations. The enhanced police presence give us renewed confidence, and we are thankful the police quick response during the attacks.
The Chamber of Mines likewise look for the revival of the Minerals Council, to make coordination among stakeholders easily. With current set-up, where mining firms had to get in touch with at least 10 government departments and agencies just to get their operations off the ground. With Minerals Council at work all relevant stakeholders would be on hand to discuss issues that is important, effectively accelerating the consultation and permit-issuance process.
The concerned secretaries agreed for the revival of the Minerals Council as a move for cooperation to mining companies in general. atj
Philippines Chamber of Mines president Benjamin Philip Romualdez said more than $ 1 billion in investments for the year was a more feasible figure, given the current industry environment. "The government has to do its part. We can't just keep writing checks. It has to issue permits the mining companies needed,if it wants to get more investment." The Chamber president told reporters on the sidelines of the Philippine Business Conference.
The Mines and Geo-sciences Bureau last month hiked its investment target for the year 2011 to $2.8 billion from earlier projected $1.4 billion, in anticipation of the entry of Chinese investors into the industry within the year. Romualdez said, however, that thousands of permits had yet to be issued to mining firms, preventing them from operating in full force and plunking more investment into the country.
To encourage the entry of more investments, the government should undertake "structural reforms" to correct fundamental errors that give rise to more flaws that cast a bad light on the Philippine mining industry. The fundamental, structural problem in the Philippine government. Some people calling for a review of the economic provisions of the Constitution. What is important is structural review. We cannot just make temporary remedy at the so-called fundamental flaws," he added.
The ban on open pit mining in most provinces, which run against to the national government's thrust to encourage the inflow of more mining investors, was just one of the many problems that needed to be ironed out as soon as possible of time.
The Department of Environment and Natural Resources should also speed its issuance of necessary permits to mining operators. While DENR committed to accelerate permit issuance, he said what the industry needed was action rather than mere commitments. The government should also help beef up the security at mining installations, in light of the attacks on mining firms in Claver, Surigao del Norte recently. In the event the police increased visibility in mining installations. The enhanced police presence give us renewed confidence, and we are thankful the police quick response during the attacks.
The Chamber of Mines likewise look for the revival of the Minerals Council, to make coordination among stakeholders easily. With current set-up, where mining firms had to get in touch with at least 10 government departments and agencies just to get their operations off the ground. With Minerals Council at work all relevant stakeholders would be on hand to discuss issues that is important, effectively accelerating the consultation and permit-issuance process.
The concerned secretaries agreed for the revival of the Minerals Council as a move for cooperation to mining companies in general. atj
Native do not like the big miners that normally search find and leaved the premises once they strike gold. Mostly foreign miners do not fullfil their promises they, just submit bankcrupt papers to government and leave without cleaning their mess.
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