South Cotabato governor Arthur Pingoy recently signed the open pit mining ban in South Cotabato. This means that the Tampakan Copper-Gold Project of Australian-backed Sagittarius Mines, Inc. (SMI) will be blocked in doing their project in the said province. SMI is potentially the Philippines’ largest mining investment at 5.9 B US$.
However, some prominent people like DENR Secretary Ramon J. P. Paje feels that this action is very fresh, even premature, because the said Australian project is about to take action in 2016. He said that the effect of this new regulation will not be felt immediately. Nevertheless, I feel that this is one good step to conserving our environment. However, I think that stopping the mining industry ain’t the best way in preserving our minerals. By stopping this means that we are hindering potential investors in our country and we know that this would lead to a decline in the economic status of our country. I still believe that proper rules and regulation are still the best way in making our mining industry sustainable over the years. We just have to think in a macro perspective, in a long term basis so that we can assume a balanced economy for a set of years.
Full article here.
(Blog Entry #14)