Business leaders urge govt to resolve open-pit mining issues

The government should bolster its efforts to resolve the issues on open-pit mining so that businessmen can tap the vast opportunities in the mining sector, the Philippine Chamber of Commerce and Industry (PCCI) said Wednesday. "The mining industry will only be able to attain its growth target if the legal and regulatory framework is stable, and there is understanding and social acceptance of mining projects," PCCI president Francis Chua said in a statement. For Benjamin Romualdez, Chamber of Mines of the Philippines president, tapping the country's mineral resource to the fullest would provide "unprecedented opportunities" that can potentially spur infrastructure development and investments. "The Tampakan project, representing the biggest investment yet in the country, is a case study on the stability of national policies, which is one of the high and critical items considered by investors before investing," Romualdez also said. Tampakan is reportedly the largest undeveloped deposits of copper and gold in Southeast Asia. However, the project is stalled by the ban on open-pit mining imposed by the provincial government of South Cotabato. Chua said the ban on open-pit mining in the provinces of Capiz, Bohol, Samar, Mindoro, South Cotabato, Romblon, and Zamboanga del Norte has put mining investments "at risk and held back development of affected communities." Open-pit mining is allowed under Republic Act 7942 or the Philippine Mining Act of 1995. However, the aforementioned local government units banned open-pit mining in their areas. According to Chua, investors have been complaining about laws in local government levels because they are "not in sync" with national government laws. The Trade Department had said it will push for a magna carta for investors to protect businessmen from "unfriendly" local government units. The department has identified mining as one of the country's key growth industries. — JE/OMG, GMA News