Aquino defends new mining policy

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.