The local mining sector will remain an industry despite of the government’s limitations, a top executive said.
Listed Global Ferronickel Holdings Inc. (FNI) President Dante Bravo said regulations in the mining in the Philippines does not hinder the sector’s operations.
“Even with the present statement, I think mining will stand because first it is allowed in the Constitution and unless we change the Constitution, then that is the end of it,” Bravo said during the company’s investors’ briefing late Thursday.
“We are a mineral resource rich country and it is a gift to us. Before, there was no demand but now that we have the technology to use, why should we stop it,” he added.
President Rodrigo Duterte remains firm in his stand of controlling the industry, specifically on banning the open pit method.
Although open pit is not one FNI’s mining methods, the company will still be affected by the Department of Environment and Natural Resources’ (DENR) latest plan to limit areas where companies can operate.
“We have a depreciating peso now and with that, mining is actually helping our economy and we need it at this point. We provide employment, we generate taxes, we develop communities and we protect the environment,” Bravo said.
“We rehabilitate more than double than what we disturbed. We are operating in areas where there are no commercial forests. And because they are mineral resources, you cannot make it productive other than mining,” he added.
The sector remains optimistic on the possible changes in the government’s decision and Bravo hopes it will realize and focus on the industry’s benefits.
“The present statement is more of the will to ensure that mining companies should be compliant and we are alright with that. When we have the information and when we do know that it is more beneficial than we thought it to be destructive, then we begin to understand and appreciate what it really is,” he said.
“Our minerals are for convenience and the promotion of development. What we are doing here is for everyone. Mining is good outside [the country], then why should it be bad here?” Bravo added.
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