Duterte Lifts 2012 Mining Moratorium to Help Boost Economy

President Duterte has lifted a 2012 moratorium on mining allowing the government to enter agreements for new mining projects and undertake a review of existing mining contracts for a renegotiation of the terms.

The executive order directs the Department of Environmental and National Resources to draft the terms and conditions in the new mineral agreements in order to maximise government revenues.

The department is also tasked with strictly implementing rules on mine safety and environmental policies with the lifting of the ban.

The Philippines is currently the biggest supplier of nickel ore to China, though less than 5% of its reserves of all minerals are estimated to have been extracted thus far.

Historically, mining has been a highly contentious issue in the country due to a poor track record in terms of environmental mismanagement and human rights issues.

SOURCE: Financial Post