Stakeholders’ group Philippine Extractive Industries Transparency Initiative (PH-EITI) announced that seven additional companies have signed the waiver that would allow the disclosure of their tax and royalty declarations to the government.
In making the announcement, the group again appealed to those companies that have not yet signed the waiver.
Ahead of the release of the upcoming Country Report in December, PH-EITI said that there are now 40 companies that have signed the waiver.
The PH-EITI waiver allows the Bureau of Internal Revenue to disclose the payments made by the covered companies in accordance with the National Internal Revenue Code.
The stakeholders group said that with the additional seven companies, the transparency initiative’s compliance rate improved to 78.4 percent.
“As the Philippines becomes aware of the potential of its natural resources to improve people’s lives, we at PH-EITI look forward to helping fellow Filipinos safeguard these natural resources, while parlaying this wealth into meaningful and substantive investments in people and livelihood,” PH-EITI Focal Person and Department of Finance Assistant Secretary Maria Teresa Habitan said.
As of August, PH-EITI said 35 mining and 5 oil and gas companies have submitted the required BIR waivers.
The mining companies who submitted the signed BIR waiver were Benguet Corporation/Benguet Nickel Mines, Inc.; Cagdianao Mining Corp; Hinatuan Mining Corp.; Rio Tuba Nickel Mining Corp.; Taganito Mining Corp.; Carmen Copper Corp.; Filminera Resources Corp.; Lepanto Consolidated Mining Co.; OceanaGold (Philippines), Inc.; Philex Mining Corp.; Philsaga Mining Corp.; Platinum Group Metals Corp.; TVI Resource Development; Zambales Diversified Metals Corp.; CTP Construction and Mining Corp.; Berong Nickel Corp.; Eramen Minerals, Inc.; Apex Mining Co., Inc.; Philippine Mining Development Corporation (PMDC); LNL Archipelago Minerals Inc.; Rapu-Rapu Minerals, Inc.; and SR Metals, Inc.
Other companies were Leyte Iron Sand Mining Corp.; SinoSteel Phils.; H.Y. Mining Corp.; Cambayas Mining Corp.; Marcventures Mining and Development; Johson Gold Mining Corporation; Shenzhou Mining Group Corp.; Krominco, Inc.; Oriental Synergy Mining Corp.; Adnama Mining Resources Inc.; Shuley Mine Incorporated; Carrascal Nickel Corporation; Ore Asia Mining and Development Corp.; and Greenstone Resources Corporation.
The oil and gas companies were Shell Philippines Exploration B.V (SPEX); Chevron Malampaya LLC; PNOC- Exploration Corporation; Nido Production Galoc. Pty. Ltd.; and Galoc Production Company.
“We are on track and we are hopeful and confident that we will be able to meet the December deadline for the report, but we are still exhausting our efforts to get 100 percent compliance,” said lawyer Marie Gay Alessandra Ordenes, PH-EITI national coordinator.
The group said they are still following up with eight extractive companies that not have yet signed the waiver. These companies include Pacific Nickel Phils.; Inc., Mt. Sinai Mining Exploration and Development Corporation; Oriental Petroleum & Minerals Corp.; Alcorn Gold Resources Corp.; Trans Asia Oil & Energy Devt. Corp.; Forum Energy Philippines Corp.; Forum Pacific Inc.; and Semirara Mining Corporation.
On the other hand, PH-EITI said that Citinickel Mines & Development Corp., The Philodrill Corporation, and AAM-PHIL Natural Resources Exploration and Development Corporation have categorically said that they will not execute the waiver.