PH cannot afford to lose mining investments – MGBMines and Geosciences Bureau (MGB) Director Mario Luis Jacinto yesterday admitted the country cannot yet afford to lose mining investments, which currently stand at P282 billion as of last year of which P78 billion have either been suspended or at risk of losing their permits to operate. Unlike Environment Secretary Gina Lopez, Jacinto is willing to see how much the mining sector could grow within this administration. To recall, the MGB chief is now working towards the recommendation of policies that will allow new mining projects in the country. “If we allow new mining projects, it will be on the basis of imperatives for responsible mining. The sole project expected to operate in 2019 is Far South East Gold project of Lepanto Mning Corp. in Benguet.

Source: Manila Bulletin October 11, 2016 14:15 UTC