The Department of Finance (DOF) has assured the current administration will strictly enforce the “non-negotiable condition” on the mining industry to adopt environmentally sustainable and responsible extractive practices.
“The Duterte administration recognizes that mining is potentially a driver of our economic recovery. It is pushing the revival of the industry to provide jobs and energize economies in the countryside,” Carlos Dominguez, DOF secretary, said in his pre-recorded message at the opening of the Mining Industry Coordinating Council’s (MICC) Mining Review Dissemination Forum yesterday.
Dominguez said the Philippines is one of the countries in the world rich in mineral resources, which can reap tremendous benefits for the economy and its people if the mining industry strictly adheres to responsible and sustainable practices.
With this industry providing jobs and spurring the economic growth of mining communities, Dominguez said it is crucial for the government’s policy decisions on this sector to be aligned to facts and science.
He said the interagency MICC had commissioned independent, multi-disciplinary teams composed of technical, legal, social, economic and environmental experts to undertake a review of large-scale metallic mines in the country.
These teams, which worked from February 2018 to December 2020, have submitted their recommendations covering their two-phase review of 44 large-scale metallic mines operated by 43 companies, Dominguez said.
In the succeeding phase of the comprehensive review, the MICC plans to cover priority mining and quarry operations across the country, including some mines located in the Bangsamoro Autonomous Region in Muslim Mindanao, he added.
On top of creating jobs and driving the growth of local economies, Dominguez said mining projects also lead to additional investments in infrastructure, utilities and other social development initiatives that benefit their respective host communities.
“It is therefore crucial to ensure that we align our policies for this industry to facts and science. Otherwise, policy decisions could wreak havoc on an industry on which many local communities depend on,” he said.