Mining
From The Report: Philippines 2014
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In spite of its vast reserves of minerals, the mining sector is currently only a modest contributor to the economy due to a range of factors that have impeded development. All told, approximately 14.5bn tonnes of metallic minerals (including gold, copper, iron, chromite, nickel, cobalt and platinum) and 67.66bn tonnes of non-metallic minerals, such as sand and gravel, limestone, marble, clay, and other quarry materials lie waiting for the turn of the shovel. Between 2011 and 2012 mineral exports recorded a fall due to a decline in market prices and lower production linked to temporary mine closures. Yet, even with the slow pace of progress being made, there remains hope that the government’s recognition of the sector’s importance will help drive it forward.
This chapter contains an interview with Eulalio B Austin Jr., President & CEO, Philex Mining Corporation.

Articles from this Chapter

Overview

Digging deeper: Raw materials are drawing growing interest from major mining outfits
OBG
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Possessing some of the region’s most impressive reserves of mineral wealth, the Philippines has the potential to forge itself into one of the world’s premier mineral extraction and export nations. Situated along the Pacific’s famed Ring of Fire, the country boasts mineral reserves estimated at $850bn, including the third- largest gold reserves in the world, fourth-largest copper reserves and fifth-largest nickel reserves, according to the Philippines Department of Environment and Natural…

Interview

OBG talks to Eulalio Austin Jr, President & CEO, Philex Mining Corporation
OBG
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Interview:Eulalio Austin Jr What reforms are needed to accelerate upstream activities and incentivise investment? EULALIO AUSTIN: Although the Mining Act of 1995 effectively covers the mining industry, harmonising national policy and local government codes remains a priority. In addition, there is a need to fix the tax regime to ensure an equitable sharing of profits between the government and mining investors and boost international competitiveness of the sector. Using the internationally…

Analysis

Balancing act: Recent challenges are spurring a wholesale regulatory reform
OBG
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Caught in the crossfire between a maelstrom of competing interests and agendas, policy makers attempting to hammer out a new regulatory regimen for the mining sector have had a tough go of it in recent years. In an attempt to find a middle ground, the central government has tried time and again to introduce reform and revise the legislative framework so that it can both encourage further investment in the sector and serve the best interests of the Filipino people. The results of these efforts…