NEDA Says Majority of Mining Operations Need Reforms to Comply With Law

So far, only four mining companies have presented outstanding standards when it comes to the areas of environmental protection and enabling socioeconomic development. 

The National Economic Development Authority (NEDA) released the Mining Industry Coordinating Council’s (MICC)  assessment of large-scale metallic mining operations in the country. According to this review, the majority of the mining companies included in the list would entail reforms to meet the government’s standards when it comes to implementing policies and laws. 

NEDA identified the team of professionals that headed the review and currently exists as the MICC Secretariat. The evaluation conducted by the MICC was done in two phases and asses over 45 large-scale mining operations. 

Only four out of the 45 evaluated operations showed exceptional standards when it comes to mining entrants with either underground mining or open-pit mining. 

The four noteworthy companies are Agata Mining Ventues in Agusan del Norte, OceanaGold Philippines in Nueva Vizcaya, Rio Tuba Nickel Mining Corporation located in Palawan, and Cagdinao Mining Corporation in Dinagat Islands. 

On the other hand, the review specified that 15 of the 45 companies would require major reforms. These companies were majority nickel mining companies with half operating in the CARAGA region. 

The evaluation mentioned that “these nickel companies must carefully balance investments for socio-economic development with community development. It must consider building up other forms of capital like renewable natural or manufactured capital that can be sustained beyond the mine life,” 

“Mining operations, particularly those engaged in nickel mining in Zambales and Loreto, Dinagat Islands, need to further examine their technical and environmental aspects and consider increasing environmental protection expenditures,”  the evaluation adds. 

Source: Philstar