AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
  • Home
  • News
  • Features
  • Business
No Result
View All Result
AngMinero
No Result
View All Result
Home News

DOF looks to sell mining rights, govt assets

AngMinero News by AngMinero News
May 22, 2023
in News
28 0
0
Government eyeing boost of PH mining sector
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

The Philippines is looking to sell more of its assets this year, including a few mining rights owned by the government, the Department of Finance (DOF) said.

“Last year we already sold I think something like PHP1.5 billion assets, and then for this year, we’re aiming to sell more,” Finance Undersecretary for privatization and corporate affairs Catherine Fong said.

Fong added that they’re looking to sell some mining rights owned by the government this year or next year. However, the government has yet to verify the content of one of the mining contracts before auctioning.

“A lot of the feasibility studies are still desktop. So we’re having the valuation done, but definitely there are a lot who are interested. We’re being assisted right now by the German government, and we’ve also received offers from the US government and Australian government to assist us in assessing the value of the mines and to help us in packaging it for auction, so definitely there’s a lot of local and foreign interest once we’re ready to auction the mines,” Fong said.

The government currently has four mining rights.

“We have four, as I understand, they’re quite big, but some are still under litigation, so we’re not prepared to auction it out yet, but at least one already has a clean title, so we’re going with that [Basay Mine] first, but we’re still in the process of validating its actual value,” Fong added.

While the government is not only looking at an outright auction of the Basay Mine, but it is also asking development partners to help in a possible joint venture.

“We’re trying to get assistance on the modern good practices in the mining industry on how to sell it, we’re trying to package it in a more responsible way,” Fong noted.

Tags: department of financedofmining assets

Related Posts

MGB, UNDP-Led Projects to Advance Biodiversity in Mining
News

MGB, UNDP-Led Projects to Advance Biodiversity in Mining

July 17, 2025
MGB Warns of Long-Term Impact of US Tariff on Philippine Copper
News

MGB Warns of Long-Term Impact of US Tariff on Philippine Copper

July 17, 2025
Marcos Strengthens Diwalwal Mining Task Force via Executive Order 88
News

Marcos Strengthens Diwalwal Mining Task Force via Executive Order 88

July 17, 2025
Philex 2021 core net income soars 118% to Php2.53B
News

Philex Mining Targets 2026 Launch for Copper-Gold Project in Surigao

July 16, 2025
SMPC Earns Five Honors at Regional Investor Awards
News

SMPC Earns Five Honors at Regional Investor Awards

July 14, 2025
Philippine Mining Club Luncheon Forum – Advancing Sustainable Mining Practices
News

Philippine Mining Club Luncheon Forum – Advancing Sustainable Mining Practices

July 12, 2025

FEATURED POST

SGS Urges Mining Firms to Start Carbon Accounting Under New DENR Rule

SGS Urges Mining Firms to Start Carbon Accounting Under New DENR Rule

July 18, 2025
Atty. Herman: Future of Mining Lies in Ancestral Domains

Atty. Herman: Future of Mining Lies in Ancestral Domains

July 18, 2025
MGB, UNDP-Led Projects to Advance Biodiversity in Mining

MGB, UNDP-Led Projects to Advance Biodiversity in Mining

July 17, 2025
MGB Warns of Long-Term Impact of US Tariff on Philippine Copper

MGB Warns of Long-Term Impact of US Tariff on Philippine Copper

July 17, 2025

EDITOR PICK'S

SGS Urges Mining Firms to Start Carbon Accounting Under New DENR Rule

July 18, 2025

Atty. Herman: Future of Mining Lies in Ancestral Domains

July 18, 2025

MGB, UNDP-Led Projects to Advance Biodiversity in Mining

July 17, 2025

MGB Warns of Long-Term Impact of US Tariff on Philippine Copper

July 17, 2025

Marcos Strengthens Diwalwal Mining Task Force via Executive Order 88

July 17, 2025

Philex Mining Targets 2026 Launch for Copper-Gold Project in Surigao

July 16, 2025

SMPC Earns Five Honors at Regional Investor Awards

July 14, 2025

Recent News

SGS Urges Mining Firms to Start Carbon Accounting Under New DENR Rule

SGS Urges Mining Firms to Start Carbon Accounting Under New DENR Rule

July 18, 2025
Atty. Herman: Future of Mining Lies in Ancestral Domains

Atty. Herman: Future of Mining Lies in Ancestral Domains

July 18, 2025

Category

  • Business
  • Features
  • News
  • Uncategorized

Follow us

  • Setup menu at Appearance » Menus and assign menu to Footer Navigation

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In