The Chamber of Mines of the Philippines urged the government to repeal Executive Order No. 79 and condemned the moratorium on new mining projects declared by Environment Secretary Regina Lopez.
President Benigno Aquino III in 2012 issued Executive Order No. 79 which aims to institute reforms in the mining sector.
The order barred new mineral agreements until a legislation rationalizing the existing mining revenue sharing scheme is amended.
“The Aquino administration has sidelined the mining industry through EO 79. The Chamber of Mines have mulled over filing cases against this order but for fear of reprisal from the Aquino administration, we chose to suffer in silence. But we can no longer do so,” CoMP vice president for legal and policy Ronald Recidoro said.
Recidoro said the order had adversely impeded the growth of the mining industry.
“EO7 9 effectively set the mining industry back at least a decade. The country missed so many investment opportunities. But the more serious effect of the postponement of mining projects is the deprivation of opportunities for employment, livelihood and development in far-flung communities, especially in Mindanao, where they are most needed,” Recidoro said
Chamber data showed that an estimated $20 billion worth of new mining projects were in the pipeline., mostly in Mindanao.
“The Chamber of Mines believes these mining projects are economic catalysts that bring jobs, opportunities and hope to many of our kababayans, especially in Mindanao; hope for better lives. The best way to fight the insurgency, crime, and even the drug menace, is to generate jobs in these depressed areas,” Recidoro said.
The Tampakan project in South Cotabato has a capital investment of $5.9 billion, while the Silangan in Surigao del Norte, Kingking in Davao del Norte, Asiaticus in Davao Oriental, Philnico in Surigao del Sur and Balabag in Zamboanga del Sur are all estimated to have an investment of $2 billion each.