Aquino defends new mining policy

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AP PHOTO

MANILA, Philippines—President Benigno Aquino III defended the new mining policy he signed, saying it was for the benefit of the Philippines.

Aquino said during his third State of the Nation Address Monday that the concensus sought to ensure that use of the country’s natural resources will benefit Filipinos.

“Hindi natin pipitasin ang ginintuang bunga ng industriyang ito kung ang magiging kabayaran ay ang pagkasira ng kalikasan,” he said.

Aquino bared 2010’s P145 billion worth of resources taken through mining and lamented that only P13.4 billion, or nine percent of it, went to the country’s coffers.

Aquino said that the country would insist on getting what was due from the mining firms as he expressed hope that the 15th Congress would be in agreement with his administration’s new mining policy.

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  • mon key

    The Philippines is rich in minerals, yet our legislators crafted a law that only gives our country a share through taxes. Botswana on the other hand gets a profit share AND collects taxes. Read this story 
    http://edition.cnn.com/2012/07/20/business/botswana-diamonds-de-beers/index.html?hpt=iaf_c2  and then let us advocpate that the same kind of legislation be passed for the extraction of Philippine Minerals.

  • mon key

    The Philippines collects a share from mineral extraction through a tax. Botsana on the other hand collects a 50% profit share, and also collects a tax from their diamond mines. Why can’t our legislators do the same for our minerals?

    • ApoLapullapu

      Because taxes go to the government while profits go to the capitalists some of whom are in government.

  • Platypus09

    If the Congress is slow or ignored mining issues, then the President has to do something about it.

    Our Congress is known to be slow and ineffective sometimes.

    Please we need to nominate intelligent and smart Congressmen and Senators and choose them to do the real job.

    • ApoLapullapu

      If our lawmakers are slow and ineffective,  why is the President continuing the release of their pork barrels?

      • Platypus09

        You know that you know the answer to your own question. 

        I don’t have to answer your question. 

  • kalikasanipagtanggol

    Pnoy will not do anything to stop those multinational mining companies and their local partners esp. pnoy’s uncle danding…….All the country’s natural resources will benefit only the few, environmental impact will not be addressed and they will not stop until the last remaining pound of ore is gone……..Those politicians esp. trapos will do nothing to stop this abuse as most of them benefit from it……..

  • surigao_miners

    Puntahan mo kasi Mr. President ang area ng Surigao del Norte at Surigao del Sur para malaman at makita mo kung ang sinasabi mo na hindi masisira ang kalikasan ay totoo o baka panaginip mo lang yan! masyado ka kasi nakikinig at naniniwala sa mga report sayo ng DENR at MGB na puro BUWAYA! Kawawa mga taga SURIGAO! OGAG KA!

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