The Department of Finance (DoF) has directed local treasurers in areas hosting mining projects to assess the impact of the closure or suspension of 28 mine sites across the country on local government revenues.

Finance Secretary Carlos Dominguez 3rd said in a statement issued on Monday, he issued the directive because alongside the massive loss of jobs and its effect on the national economy, last week’s move by the Department of Environment and Natural Resources (DENR) might imperil the fiscal state of the affected local governments, given that mining companies account for a hefty part of the tax revenues collected by local governments in municipalities hosting mine sites.

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