The mining industry will continue keeping up with the standards of responsible mining in response to President Rodrigo Duterte’s recent warning on businesses that are destroying the environment and violating government standards.
The Chamber of Mines of the Philippines (COMP) said mining firms are covered by a strict order to safeguard the people, environment and country’s interests.
The COMP added that the mining industry will continue to abide by the law and support the President’s effort to weed out the irresponsible miners who conduct their business without regard for the law. The chamber also clarified that the Foreign Technical Assistance Agreement provides for a 50-50 sharing formula with government. In the Mineral Production Sharing Agreement, the chamber said government gets a 45-percent share depending on prices of commodities, belying the prevailing assumption that government only gets 18 percent from mining operations.