The Department of Environment and Natural Resources (DENR) and the mining industry will come together to introduce policy reforms designed to enhance the sustainability, responsibility, and investment appeal of the local mining sector.
Inquirer reported that the major points of the agreement were to encourage responsible and sustainable mining practices, as well as refine regulatory frameworks to safeguard biodiversity and fortify the rights of local communities in mining areas.
The mining industry committed to paying the government any taxes, royalties, and other levies that are necessary for the discovery, development, and utilization of the nation’s mineral resources.
In addition, mining companies resolved to respect the ecological integrity of mining sites and use efficient technology for the responsible extraction and optimal usage of mineral resources.
Meanwhile, the DENR has committed itself to boosting investments in mineral processing through the provision of financial incentives and assistance. In an effort to draw in additional capital, the department would also expedite the evaluation and issuance of mining agreements.
Specifically, the department plans to collaborate with other government agencies on parallel processing applications, develop comprehensive mining project announcements, and provide guidance on lands suitable for exploration.
Establishing an ethical commission to monitor the environmental, social, and governance performance of industry participants was another agreement reached by the mining sector, represented by the Philippine Chamber of Mines and the Philippine Nickel Industry Association.
And aside from the introduction of policy reforms and the establishment of an ethical commission, the parties had decided to set up a cooperative monitoring and assessment system to keep an eye on how mining operations were affecting the environment and the socioeconomic standing of the affected people.
