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The core earnings of Philex Mining Corp. declined by 17 percent to P1.54 billion from January to September this year compared to P1.86 billion in the same period last year on the back of lower copper prices and metal output.
It has been said that mining can be a most effective driver for economic growth and national development if allowed to flourish.
‘Mining is not the enemy. Poverty is. The lack of the most basic necessities, the lack of opportunities, the lack of choices these pernicious deficits have plagued our people for far too long, in far too many places. Yet, the supreme irony is that, in the midst of all this poverty, lie one of the world’s richest natural resources, a gift of providence endowed to our people.’ — MVP
‘Mining is not the enemy. Poverty is. The lack of the most basic necessities, the lack of opportunities, the lack of choices these pernicious deficits have plagued our people for far too long, in far too many places. Yet, the supreme irony is that, in the midst of all this poverty, lie one of the world’s richest natural resources, a gift of providence endowed to our people.’ — MVP
The government is now considering lifting the ban on open-pit mining method more than two weeks since President Rodrigo Duterte lifted the moratorium on new mining projects. In a text exchange, when asked if the government may soon lift the ban on open-pit mine, Mines and Geosciences Bureau (MGB) Director Wilfredo Moncano said, “it is being considered.” MGB Director Wilfredo Moncano (Photo credit: https://region1.mgb.gov.ph/) The ban on open-pit mining method for copper, gold, silver and/or complex ores is contained in the Department of Environment and Natural Resources (DENR) Adm...