All mining contractors must now comply with the disclosure requirements of the Philippine Extractive Industries Transparency Initiative, the Mines and Geosciences Bureau said.
Environment Secretary Regina Lopez has signed Administrative Order No. 2017-07 requiring all mining companies to take part in PH-EITI.
The initiative aims to ensure full disclosure of taxes and other payments made by oil, gas and mining companies to governments.
The government will suspend the Environmental Compliance Certificate as well as the Ore Transport Permits and Mineral Export Permits of any mining contractor that fails to comply with the disclosure requirements.
The certificates and permits will remain canceled until the mining companies are able to comply with the PH-EITI requirements, the MGB said.
The PH-EITI was created by Executive Order No. 147 signed by then President Benigno Aquino III in 2013 to ensure greater transparency and accountability in the extractive industries, specifically in the way the government collects, and companies pay taxes from extractive operations.
