By Louise Maureen
Simeon (philstar.com) | Updated August 18, 2016 - 2:41pm
MANILA, Philippines — Contrary to
what President Rodrigo Duterte stated, the local mining sector would never
experience sunset as it is a major economic pillar, a management consultancy
firm specializing in mining said.
AMDGY Consultancy
countered Duterte's statement that the minerals development sector is
already a sunset industry.
"Since the dawn of time, we
have been mining. Mining is not just metallic, it also includes non-metallic
and energy," AMDGY Consultancy president and chief executive officer
Deogracias Contreras said.
He added that there is an increasing
need for both metallic and non-metallic resources to keep the country’s economy
moving forward.
Earlier, Duterte issued a stern
warning to mining firms as he vowed to be tough on businesses that are
destroying the environment and violating government standards.
Duterte has announced that the
administration is willing to forego the P40-billion mining investments.
The Philippines is the fourth most
mineralized country in the world with an estimated total worth of over P70
trillion if the government harnessed its full potential.
In defense of the large-scale mining
operations, Contreras said the absence of a regulatory framework and the lack
of capacity to enforce existing frameworks remained to be the biggest hurdle
for the minerals development sector.
"The culture of corruption
still exists [in the sector]. It’s sad to say, but where there is large-scale
mining, there’s always small-scale mining activities," he added.
Unlike small mining activities,
Contreras emphasized that large-scale mining is governed by a wide range of
regulatory controls and permits, requiring them to meet various international
standards for them to operate in their host communities.
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