Quantcast
Channel: UNTV News
Viewing all articles
Browse latest Browse all 18481

$20-B worth of new mining projects still pending – Chamber of Mines

$
0
0
UNTV's exclusive video footage of the effects of mining operations on Zambales' mountains

UNTV’s exclusive video footage of the effects of mining operations on Zambales’ mountains

 

The Chamber of Mines of the Philipines is asking the government to help them nourish the mining industry in the country.

This, after the audit report of the Department of Environment and Natural Resources (DENR) recommended the suspension of 20 mining sites in the country.

READ: 20 mining operations fail DENR’s audit

But prior to DENR’s announcement, there were already 10 mining operations that had been suspended.

The group says some of the violations found on their members’ mining site cannot really be attributed to them.

“There were also studies done by the UP Geology Institute which said that the majority of the silation happening in Zambales is naturally occurring. Meaning, with or without mining in the area, there will be silatation because of the chronic illegal logging in the area and the place is really denuded,” said Ronald Recidoro, Chamber of Mines of the Philippines’ Vice President for Legal and Policy.

The Philippines is the top exporter of nickel for China and it might be affected if the suspension will be implimented.

Metal mining contributes about 6 billion pesos to Philippine economy every year and a share of about 250 thousand direct employments.

The Chamber of Mines also says that there are 8 mining projects worth $20 billion that are now pending due to the moratorium implemented by the government since 2010.

“All of these were studied but can’t move on next step because the government is not signing it,” Recidoro said.

The DENR is now considering revisions to the taxation scheme of the mining industry.

The sad reality is 82% of net income goes to the mining company that’s the law. What is our benefit here? And then 18% goes to the government . DENR Secretary Gina Lopez said.

“You like to have 50:50 or a net profit such that when there’s profit, each of us gets a half of it. If we earn 20 pesos, we get 10 pesos each. But if the price gets too low, and we experience a loss, you get zero. there is that risk. the government does not like that.” — Rey Pelayo | UNTV News & Rescue

The post $20-B worth of new mining projects still pending – Chamber of Mines appeared first on UNTV News.


Viewing all articles
Browse latest Browse all 18481

Trending Articles


mayabang Quotes, Torpe Quotes, tanga Quotes


Girasoles para colorear


Tagalog Love Quotes – Nagmamahal


OFW quotes : Pinoy Tagalog Quotes


Long Distance Relationship Tagalog Love Quotes


Tagalog Long Distance Relationship Love Quotes


5 Tagalog Relationship Rules


“BAHAY KUBO HUGOT”


Vimeo 10.7.0 by Vimeo.com, Inc.


Vimeo 10.7.1 by Vimeo.com, Inc.


Break up Quotes Tagalog Love Quote – Broken Hearted Quotes Tagalog


Sapos para colorear


Tagalog Quotes About Crush – Tagalog Love Quotes


Patama Quotes : Tagalog Inspirational Quotes


Tagalog Quotes To Move on and More Love Love Love Quotes


Tropa Quotes


BARKADA TAGALOG QUOTES


Re:Mutton Pies (lleechef)


FORECLOSURE OF REAL ESTATE MORTGAGE


Pokemon para colorear