Govt earned P40.7B from mining in 2013

The Chamber of Mines of the Philippines (COMP) on Wednesday maintained that the extractive industry contributed PHP40.7 billion to government coffers in 2013, contrary to a statement by the 2015 Country Report of the Philippine Extractive Industries Transparency Initiative (EITI).

Citing the same Philippine Extractive Industries Transparency Initiative 2nd Country Report covering FY2013 used by Bantay Kita, COMP said oil and gas revenues totaled PHP35.3 billion while revenues from the mining sector amounted to PHP5.4 billion. These amounts come only from the 20 material companies and four energy companies that participated in the initiative and with gross sales of PHP1 billion.