Aquino defends new mining policyBy Karen Boncocan
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.