http://www.mb.com.ph/BSNS2005101446654.html


Gov’t wooing 40 mine FTAA holders


By MELODY M. AGUIBA

The Philippines is optimistic of winning back at least seven out of 40 holders of financial and technical assistance agreement (FTAA) back in 1995 with the country’s three government branches throwing all-out support to mining investments.



"We’ve written 40 holders of FTAA. We haven’t cancelled their contracts. In 1995, when we should have had joint venture schemes with these 40, that was the time the Mining Act was questioned. Imagine if these investments were sustained 10 years ago, maybe we would have been substantially benefited economically," Environment Secretary Michael T. Defensor told the Asia Pacific Mining Conference.

He said the legislative, executive, and judiciary branches government now unanimously support mining.

The fact that the Supreme Court (SC) decision was issued en banc and with finality and that the SC rejected a reconsideration of this decision makes the stability of mining policy and environment permanent, he said.

However, he stressed government needs to continue working in the grassroots where the battle against mining exists.

�"We have to win the communities in the upland where the poor are. The business of mining is the business of nation building. My confidence in mining is not only in policies, but on what’s happening on the ground. We see a lot of people benefit from livelihood. People are taken cared of in health and education that will make this business continue," he said.

He said even mining companies listing in the stock market should make a strong pitch for livelihood-raising mining activities.

"We hope the Filipino people will not only look at it on its economic advantage but on its potential for individual investments to gain profit," he said.

Just in the first half of the year, mining investments reached $345 million including construction and exploration and involving 6,000 jobs, he said. And this investment, according to the National Economic Development Authority, made mining emerge as the single biggest growth driver with 14 to 15 percent growth.

The Philippines, he said, looks forward to a mining boom as construction and development of several mines are forthcoming in the next three years. This will be on top of operating mines Teresa copper-gold, Coral Bay nickel, TVI Canatuan and Rapu Rapu polymetallic projects.

"At least 10 mining projects are scheduled to undertake construction during the next two years (2006-2007)," he said.

Defensor said government is also prioritizing rehabilitation of seven mines which is a top consideration if rural communities have to be lured to support mining. Rehabilitation of the seven mines will require P100 million yearly for three years. The first to be restored here is the Bagacay mine in Samar which needs about P40 million to rehabilitate.

For construction and feasibility study completion within i2006 to 2008 are the Atlas copper mine in Toledo, Cebu; Surigao Resources project, PhilexÂ?728L project, Akle Cement, Didipio copper project, Nonoc Nickel, Siana copper-gold, Filminera project, Tampakan copper-gold in South Cotabato, and