Lifting of ban on open pit mining a good start The lifting of the ban on open pit mining is a good start in generating interest among global players but more help from the government is needed to make them invest in the Philippines, according to Jose Leviste Jr., governor of the Canadian Chamber of Commerce of the Philippines (CanCham Philippines).
“Clearly, we could do more… This relaxation of the open pit mining ban is something positive because it will certainly catch the interest of people not only locally but also abroad,” Leviste said in a forum hosted by the chamber last week.
Citing studies, Leviste said 30 percent of the country is potentially rich in mineral ores but only 3 percent is covered with rights, claims and leases to mine.
“With this development… what we must do is make it happen. Lobby the government, get the support of the Department of Environment and Natural Resources (DENR) and the Department of Finance so that we can really proceed and move a little faster on this industry,” Leviste added.
The national government recently lifted the open pit mining ban that was first implemented by the DENR in 2017.
Last year, it also lifted the moratorium on new mineral agreements between the government and the private sector which was prohibited since 2012.
Earlier, Leviste, as special advisor to the Australia-Philippines Business Council, said other areas of opportunity in the country include mineral exploration, mining equipment supply, engineering services, specialist software and industry education and training.
The Philippines is the fifth most mineralized country in the world, with the third largest deposits of gold, fourth for copper and fifth for nickel.
The country’s mineral resource assets, valued at approximately A$1.32 trillion, are largely untapped.
