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

Mining Sector Flags Privacy Risks in SEC-DOF Beneficial Ownership Pact

AngMinero News by AngMinero News
September 19, 2025
in News
27 1
0
Dinapigue Mining to Deploy 750 Concrete Tetrapods in PHP 22M Deal with CSC
84
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Mining firms yesterday raised potential data privacy concerns as the PHP 170 billion mining sector faces new government rules on ownership monitoring, Philstar reports.

“Our concern really is on data privacy and publication of sensitive personal information,” Chamber of Mines of the Philippines (COMP) executive director Ronald Recidoro said.

On September 3, a data-sharing agreement between Securities and Exchange Commission (SEC) and the Department of Finance (DOF) is officially in effect, giving the Philippine Extractive Industries Transparency Initiative (PH-EITI) access to monitor corporate ownership information to strengthen transparency monitoring in the extractive industries, including mining.

COMP said the industry supports compliance with the agreement, but remains cautious about how sensitive data will be collected and disclosed.

“We are already working closely with SEC and PH-EITI on resolving these issues,” Recidoro said, adding that the industry is working to ensure beneficial ownership transparency reporting upholds data privacy rights and delivers accurate, timely disclosures.

The Mines and Geosciences Bureau (MGB) reported that the mining industry contributed PHP 170.3 billion to the economy in 2023, equal to 0.7% of GDP. Minerals also represented 9.6% of Philippine exports, while government revenues from the sector reached PHP 48.8 billion in taxes, fees, and royalties.

The SEC-DOF pact supports the newly signed Enhanced Fiscal Regime for Large-Scale Mining Act or the Republic Act No. 12253. The law established a new tax and royalty system aimed at modernizing the country’s mining industry.

Follow Ang Minero on Facebook and LinkedIn for more updates.

Tags: beneficial ownershipChamber of Minesdata privacydofextractive industriesmining economymining transparencyPH-EITIPhilippine miningSEC

Related Posts

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte
News

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya
News

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025
Investors show interest in Philex’s Silangan mine ahead of 2026 launch
News

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025
President Marcos urges sustainable, law-abiding mining investments in PH
News

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025
Chamber of Mines says reforms can revive PH mining exports
News

Chamber of Mines says reforms can revive PH mining exports

October 27, 2025
FNI legal team earns top honors at 2025 ALB Philippine Law Awards
News

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025

FEATURED POST

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025
Investors show interest in Philex’s Silangan mine ahead of 2026 launch

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025
President Marcos urges sustainable, law-abiding mining investments in PH

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025

EDITOR PICK'S

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 2025

Investors show interest in Philex’s Silangan mine ahead of 2026 launch

October 27, 2025

President Marcos urges sustainable, law-abiding mining investments in PH

October 27, 2025

Chamber of Mines says reforms can revive PH mining exports

October 27, 2025

SMPC declares PHP1.25 special cash dividend, total 2025 payout at PHP13.8B

October 20, 2025

FNI legal team earns top honors at 2025 ALB Philippine Law Awards

October 16, 2025

Recent News

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

DENR sets public scoping for proposed Mapawa Gold Project in Surigao del Norte

October 28, 2025
De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

De Lima urges House probe into alleged illegal mining in Nueva Vizcaya

October 28, 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