more news on romblon

I wonder when our company will deign to inform its investors of what they are doing about all this.....


From Manilla Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=2011/february/17/business4.isx&d=2011/february/17


PCCI: Mining investments face risks

by Julito G. Rada

The ban on open-pit mining in the provinces of Capiz, Bohol, Samar, Mindoro, South Cotabato, Romblon and lately, Zamboanga del Norte, has seriously put investments in the sector at risk and held back development of communities, the Philippine Chamber of Commerce and Industry said in a statement Wednesday.

?PCCI is calling on all stakeholders to undertake an objective and rational discussion on the open-pit mining issue to come up with a win-win solution that will advance sustainable development and benefit host communities of mining activities, and the country?s economic growth,? group president Francis Chua said.

Mining, among the growth drivers of the Philippine economy, contributed around P110 billion to the gross domestic product last year. Mining and quarrying combined generated an estimated 200,000 jobs during the same year.

Edwin Capili, PCCI vice president for Mindanao, said the Tampakan mining project alone?the target of a South Cotabato ordinance?could provide employment generation for up to 8,000 to 9,000 people during construction and around 2,000 more during actual operations.

Capili, citing data from Tampakan proponent Sagittarius Mines Inc., said the project would contribute 1 percent to the GDP and generate tax revenues of $5.1 billion over 20 years.

Sagittarius Mines said Tampakan had the potential to produce 13.5 million tons of copper and 15.8 million ounces of gold.

?Tapping our mineral resource provides unprecedented opportunity that can potentially spur infrastructure development and investments in the regions,? said PCCI vice president for industry and president of the Chamber of Mines of the Philippines Philip Romualdez.

?The Tampakan project, representing the biggest investment yet in the country, is also a case study on the stability of national policies, which is one of the high and critical items considered by investors, both local and foreign, before investing,? he added.

Chua cited the need for adequate information to have a better understanding of mining processes and technologies, and dialog with stakeholders to build social acceptability of such projects.

And then there's this....
From MB.com
http://www.mb.com.ph/articles/304944/business-calls-winwin-solution-open-pit-mining-mindanao

Business calls for win-win solution to open pit mining in Mindanao
By BERNIE CAHILES-MAGKILAT
February 18, 2011, 2:58am

MANILA, Philippines ? The business community has called for a win-win solution on open-pit mining saying the ban on this mining approach in seven provinces in the country has seriously put mining investments at risk and is going to hold back development of affected communities.

In a statement, the country?s biggest and most influential business association, the Philippine Chamber of Commerce and Industry (PCCI) said there must be a win-win solution on open pit mining to advance sustainable development and benefit host communities of mining activities, and the country?s economic growth.

?PCCI is calling on all stakeholders to undertake an objective and rational discussion on the open-pit mining issue to come up with a win-win solution,? said PCCI president Francis Chua.

Seven provinces have implemented a ban on open-pit mining. These are Capiz, Bohol, Samar, Mindoro, South Cotabato, Romblon, and lately, Zamboanga del Norte.

The open pit mining method is "an excavation or cut made at the surface of the ground for the purpose of extracting ore and which is open to the surface for the duration of the mine?s life." Some local government units have frowned over this method saying it destroys the environment.

But open-pit mining is allowed under the Philippine Mining Act, which also has stringent environmental and social prescriptions to ensure sustainable development of mineral resources.

Mining, considered to be among the growth drivers of the Philippine economy, is estimated to have contributed P110 billion to the Philippine GDP in 2010. Mining and quarrying combined, generated an estimated 200,000 jobs during the same year.

Citing data from Sagittarius Mines, Inc., Edwin Capili, PCCI Vice President for Mindanao noted that the Tampakan Mining project alone, the target of the South Cotabato ordinance can provide employment for up to 8,000 to 9,000 people during construction and for around 2,000 more during actual operations, and GDP contribution at 1% with tax revenues of $5.1-billion over 20 years.

SMI data show the potential of the area to produce 13.5 million tons of copper and 15.8 million ounces of gold.

PCCI Vice President for Industry and the President of the Chamber of Mines of the Philippines, Philip Romualdez said, ?Tapping our mineral resource provides unprecedented opportunity that can potentially spur infrastructure development and investments in the regions. The Tampakan project, representing the biggest investment yet in the country, is also a case study on the stability of national policies, which is one of the high and critical items considered by investors, both local and foreign, before investing.?