Foreign business notes govt's flip-flopping on mining policies

Foreign businessmen in the Philippines have started raising their eyebrows at what they called the government’s flip-flopping on some policies — the same issue investors raised in the previous administration. Joint Foreign Chambers (JFC) said this flip-flopping of policies is noticeable in the recently promulgated Writ of Kalikasan, the South Cotabato open-pit mining ban, and the proposals to repeal the Philippine Mining Act of 1995. The Writ of Kalikasan, or the Rules of Procedures for environmental cases, however, was issued during the term of former President Gloria Macapagal-Arroyo. The Rules of Procedure, the first of its kind in the world, was promulgated on April 13, 2010. Still, the JFC said that these developments have the potential to disrupt the growth of the mining sector. In the previous years, foreign investors enjoyed government support in terms of responsible mining. "We reiterate the need for policy consistency in the growth of mining," the JFC said in a statement Wednesday. "[Policy inconsistencies] are causing serious concerns within the foreign investment community about the country's ability to move forward with a healthy, reliable, and transparent mining industry policy," the JFC said. The JFC added that the Philippine Mining Act of 1995 is on a par with best international practices. The law does not need to be repealed nor reviewed, but rather be strictly enforced, it added. The group said that the Philippine Mining Act of 1995 must be strictly supervised and implemented to cover all mining operators to ensure a policy of responsible mining with substantial socio-economic benefits for the country. —JE, GMANews.TV