The Manila Times

Business

  Home  

  About Us  

  Contact Us 

  Subscribe     Advertise  
  Archives     Feedback  

  Register  

  Help  

  Top Stories

  Metro

  Business

  Regions

  Opinion

  World

  Life & Times

  Sports

 

Saturday, September 20 2008

 

Mining firms to abide by new export rules


THE Chamber of Mines of the Philippines said members would abide by a new rule requiring permits before shipping their output.

Benjamin Philip Romualdez, the chamber president, said mining companies are amenable to obtaining permits for their mineral exports from the Department and Environment and Natural Resources (DENR).

DENR earlier explained this is necessary to ensure that minerals are from officially permitted sources, that mining companies pay correct taxes and that the correct information about the exports is declared.

Romualdez said this development would be an effective mechanism for the government to monitor and regulate minerals coming in and out of the country in line with its efforts to curb smuggling and harmonize export and import data.

The chamber, however, is suggesting that the DENR should designate someone who would concentrate on the issuance of export permits.

This set up would fast-track approvals of mineral export permits and would avoid unnecessary delays, Romualdez said.

The energy secretary would be tasked to spearhead the review and handing out of these permits.

“Environment Secretary Lito Atienza has a lot of work to do [at the DENR] and adding this task to his many responsibilities may overburden him,” Romualdez said.

The chamber also lauded the government’s recent efforts to safeguard mining sites, especially in Mindanao, where rebel groups have been attacking mining firms in the last few months.

Romualdez said the Minerals Development Council has created a special committee on security concerns headed by the Department of Interior and Local Government together with the Philippine National Police, Armed Forces of the Philippines and Department of National Defense, to ensure the security of mining companies threatened by armed groups.

Romualdez also said that President Arroyo assured during a National Competitiveness Council meeting that local government units (LGUs) can collect their share of excise tax revenues collected from mining firms operating in their areas.

Arroyo promised that LGUs would take one-and-half months to finally receive their share from collections, he said.

Sixty percent of the total excise taxes paid by mining firms are remitted to the national government, while the remaining 40 percent are distributed among LGUs hosting mining sites.

According to Romualdez, this development would soften resistance from many communities, which have complained that the benefits from mining operations in their areas do not trickle down to them.

The chamber official said there is “generally a strong interest in funding mining projects.”

The recent significant drop in fuel prices also has a good impact on mining activities, he said.

Romualdez said Philippine exports of gold, copper and chromite are still strong. He, however, admitted that nickel exports are slowing down due to a huge drop in nickel prices, prompting China to stop buying low-grade nickel from the Philippines and elsewhere to utilize its local stock.

Large-scale mining activities are also in the pipeline, Romualdez said, adding that the Philippines is still a competitive and well-positioned location for mining.

He said the Philippines is lately getting more foreign direct investments in the mining sector than its neighbors.
--Ben Arnold O. De Vera

  
 

The PSE-Manila Times Equity Challenge 2008

Manila Times Friends

Phgifts

philflora.gif

Sponsored Links
 

Back To Top

Severino O. Frayna Jr., Benjie Dela Rosa
Powered by: 
The Manila Times Web Admin

 

Home | About Us | Contact | Subscribe | Advertise | Feedback | Archives | Help

  Copyright (c) 2001 The Manila Times | Terms of Service
The Manila Times Publishing Corp. All rights reserved.

Hosted by: