The unintended consequences of Lopez’s mining shutdown

ON Monday, the Department of Finance reported that should the recent order of Environment Secretary Gina Lopez be fully implemented—to wit, the closure or suspension of 28 mining operations—the financial loss to local governments across the country will exceed P800 million.

The exact figure, P821.13 million, is higher than an earlier estimate of P653 million, and is based, the DOF said, on a 100-percent accounting from the 17 affected cities and municipalities in 10 provinces.