Proposals from different sectors to ban the export of unprocessed minerals in order to boost domestic mineral processing would not work, according to some mining experts.
Academe experts and the government discussed the industry of mining in the Philippines at a forum organized by the Starbase ADR Institute (ADRi). They talked about how mining can help industrialization promote national security.
ADRi president, Dindo Manhit, said that we need to look at the huge potential of minerals in the Philippines more than ever. Now that there’s the Duterte administration’s Build, Build, Build Program.
Foreign businessmen agree with the opinion of mining experts. They raised their concerns about the possible negative impacts of export ban of mineral ores. The Joint Foreign Chambers (JFC) opposes proposals that promote the development of mineral process, but will ban the export of metallic ores.
“We agree with the goal of the bills, but not the policy means to achieve it,” the organization said in a report by the Philippine Star.
The organization also added, “Market forces must determine whether or not an economic activity like minerals processing can be established.”
However, foreign businessmen agreed that the Philippines should include the mining industry effectively in the country’s industrialization. As this would create more jobs and will contribute to a higher GDP and job creation for more Filipinos.
The JFC organization is composed of the American, Japanese, Canadian, European, Australian-New Zealand, and Korean chambers representing over 3000 member of companies, engaged in $30 billion worth of investments in the Philippines
