Tag Archives: economy

business, Economy, government, Investing, Mine, Mine Site, minerals development, Mining, Money, Opinion, Philippines, Resources Industry, Underground Mine, Underground Mining

An Economy Built on Mining – Learning from South Africa

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On 11 March 2017, President Rodrigo Duterte says he is willing to let go of the P70-billion earnings the government collects from mining operations. “We can live without it. I would rather follow Gina. Maghanap-buhay na lang tayo ng iba, get the P70 billion somewhere else and preserve the environment. ‘Wag na tayong magbolahan,” he said on Saturday.

P70-billion is no small amount. This is a substantial amount of money which can be used to develop areas and communities that are beyond the reach of the government. A substantial amount of money that can be utilized by the Filipino people whose battle-cry has long been ‘inclusive growth’.

Based on the World Bank for the current 2017 fiscal year, and calculated using the World Bank Atlas method:

Low-income economies are defined as those with a GNI per capita of $1,025 or less.

Lower middle-income economies are those with a GNI per capita between $1,026 and $4,035. Fifty-two (52) countries including the Philippines are in this bracket.

Upper middle-income economies are those with a GNI per capita between $4,036 and $12,475. Fifty-six (56) countries including South Africa are in this bracket.

While High-income economies are those with a GNI per capita of $12,476 or more. Seventy-nine (79) countries such as Australia, Canada, and the United States are included in this list.

How can a country such as the Philippines move from a low-income economy to a high-income one? The best way is to take a long hard look at its neighbors.

Though jumping from a low-income economy to a high-income one may be a tall order, and the Philippines using the mining models of Australia, Canada and the US are too idealistic, it would be to the country’s best interest to redirect its gaze to a country with similar trades, businesses and the challenges that go with it. When it comes to minerals development, South Africa is the country closest to the Philippines.

The billion dollar question (no pun intended) which begs to be answered: Can an economy be built on mining?

South African Ambassador to the Philippines, His Excellency Martin Slabber shares with us his insights on what Africa was, to what it is now because of mining. A privileged discussion, this story was crafted in the hopes of giving the Philippine government a glimpse of “what our economy could be” if ethical and responsible mining practices were done in the Philippines.  

For the full story, refer to page 38 of the Philippine Resources Journal with the subject – An economy that was built on mining: How the Philippines can learn from South Africa by Maria Paula Tolentino

For more information about this story, contact its author:
MissTolentino  
Twitter – @misstolentino22  
Facebook – www.facebook.com/misstolentino22/

Taken by South African Ambassador HE Martin Slabber
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Economy, Love for Country, Philippines, Tourism, Travel

Modernization of Immigration Services to Boost PH Tourism

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A Filipino child joining the Ati-Atihan festival celebrated only in the Philippines.
A Filipino child joining the Ati-Atihan festival, just one of the many festivals celebrated in the Philippines.

The JFC (Joint Foreign Chamber of the Philippines) supports government efforts to modernize immigration services through the proposed Philippine Immigration Act and other ongoing reforms. The objective of the bill is to make immigration services more enabling to promote tourism and commerce. The JFC believes that these efforts will help make the Philippine tourism stay long and retirement industries more competitive with the rest of its ASEAN neighbors while helping the country grow twice as fast.

As international traffic continues to grow, especially with implementation of the liberal air access policy, any shortage of personnel relative to the growth of passenger traffic should be addressed with an increase in the workforce at the expense of the national government.

Download the official press release of the Joint Foreign Chambers of Commerce here: JFC_Statement_ProposedImmigrationAct

business, Economy, Mining, Resources Industry

QED remains unfazed, adjusts sails to mining industry descent

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On the cover: Quest Exploration Drilling’s (QEDs) mining equipment featured in an ongoing Masbate Project.

“Exploration is not mining. Exploration is just finding out what’s out there. Exploration in itself is an industry and can provide significant benefits to the government revenue base, but more importantly to the rural communities” – Allan Blackley, CEO/Managing Director of Quest Exploration Drilling (QED).

qed cover story.jpg
Issue 4 Cover Story, The Philippine Resources Journal: Interview with industry veteran and Quest Exploration Drilling (QED) CEO/Managing Director Mr. Allan Blackley.

The Philippine Resources Journal speaks with Quest Exploration Drilling’s (QED) CEO and Managing Director Allan Blackley, who highlights the difficulties the resources sector is currently facing midst an investment market with lowering commodity prices. The full interview can now be read in the Journal’s 4th issue.

For more information about this story, please get in touch with the journalist at twitter [@misstolentino22]

business, Economy, government, minerals development, Mining, Philippines

Industry Players Challenge Anti-Mining Advocates present RTNMC as Case Study in Mining Philippines 2014

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Mining Philippines 2014, Sofitel Hotel, Manila – Trying to keep its head above water, the mining industry has had it share of blacks and blues this 2014. With a mix of interesting political personalities that graced the annual affair, it was not surprising to note that this year’s event was leaner compared to 2013.

Among the political personalities who attended were: Philippine Vice-President Jejomar Binay, Sen. Grace Poe and Sen. Allan Peter Cayetano – who among the three, gave the best “talk” in the room (Cayetano deviated from his presentation and opted to speak openly about his stand on mining). It was noticed that VP Binay was non-committal on his stand on mining and the current issues the industry is facing.

Aside from the fact that the current administration is “against mining” (as stated by Sen. Allan Peter Cayetano), a number of foreign mining companies, together with their investors, have resolved to pack up and slowly take their business elsewhere. But the Chamber will not take this sitting down. In fact, they are looking at another 25 years in the business.

The Chamber of Mines Philippines (COMP) has been very vocal from the start about the misconceptions on mining particularly by those organizing the Save Palawan Movement, calling the advocacy a lie.

Getting the facts straight. "Stop the Lying in Palawan" - COMP
Getting the facts straight.
“Stop the Lying in Palawan” – COMP

For more information about the Philippine mining industry, please visit and download resource materials from COMP’s presentations here.


Bigger Players Joining In

OceanaGold Sustainable Agroforestry Inc. (OGSAI), an affiliate of OceanaGold (Philippines) Inc. (OGPI), have set-up ‘green’ alternatives to their mineral resource development. “Now that the Didipio Mine is in operation, we want to push  sustainable environmental compliance with our advance rehabilitation programs and keep OceanaGold institutionalized as a ‘Green’ environment-friendly mining company,” said OGSAI Chairman Jose Leviste Jr.

Back in Rio Tuba Nickel Mining Corporation (RTNMC) aka “Nickel Asia Country” (Bataraza, Palawan) ~

Bataraza, Palawan - My trip to Rio Tuba Nickel Mining Corporation's (RTNMC) mine site. Note to self: When surveying mine sites, boots provide better traction. Sheesh.
Bataraza, Palawan – My trip to Rio Tuba Nickel Mining Corporation’s (RTNMC) mine site. Note to self: When surveying mine sites, boots provide better traction. Sheesh.
Bataraza, Palawan - In Rio Tuba Nickel Mining Corporation (RTNMC), children of employees are given MAC computers for study. RTNMC is one of the mining companies in the country providing education, health and living services for its residents/employees.
Bataraza, Palawan – In Rio Tuba Nickel Mining Corporation (RTNMC), children of employees are given MAC computers for study. RTNMC is one of the mining companies in the country providing housing, employment, education and healthcare opportunities for its residents/employees.
According to sources, women are becoming better miners of RTNMC. They are educated and bring more to the family income compared to their male counterparts. Featured in this picture are women of the Palawan tribe, also products of its educational system.
According to sources, women are becoming better miners of RTNMC. They are educated and bring more to the family income compared to their male counterparts. Featured in this picture are women of the Palawan tribe, also products of its educational system.

In Brief:

  1. A leaner number of mining exhibitors and participants in recent Mining Philippines conference
  2. A non-committal VP on actual stand with the industry
  3. An interesting industry ‘champion’ in the person of Sen. Allan Peter Cayetano
  4. A more involved industry that continue to challenge the misinformed mindset on mining (RTNMC, OceanaGold, etc.)
Vice President Jejomar Binay graces Mining Philippines 2014. Rumored potential Binay-MVP tandem on 2016. Speech non-committal about mining industry policy changes.
Vice President Jejomar Binay graces Mining Philippines 2014. With rumored potential Binay-MVP tandem on 2016, his speech was non-committal on actual industry stand and mining policy changes.
Vice President Jejomar Binay together with (L-R) Chamber of Mines Philippines (COMP) President Philip Benjamin Romualdez and COMP Chairman, Prof. Artemio Desini
Vice President Jejomar Binay together with (L-R) COMP President Philip Benjamin Romualdez and COMP Chairman, Prof. Artemio Desini
Mining Philippines 2014 kicks off with Sen. Grace Poe as guest speaker for the first of the three day event. Featured with Poe is Chamber of Mines President Mr. Philip Benjamin Romualdez.
Mining Philippines 2014 kicks off with Sen. Grace Poe-Llamanzares as guest speaker for the first of the three day event.  “I am also fully supportive of the Philippine Extractive Industries Transparency Initiative [PH-IETI] because it promotes greater transparency in the mining sector,” she said. Aside from full disclosure of contracts, Poe also encouraged the mining industry to “publish what you pay.” At present, 40 of the 51 mining firms operating in the Philippines have already allowed the Bureau of Internal Revenue (BIR) to inspect their financial records.
Mining is an industry we need and a major part of our development as a country - Sen. Allan Peter Cayetano
Mining is an industry we need and a major part of our development as a country – Sen. Allan Peter Cayetano. A potential ‘Champion’ for a determined industry.

The full story comes out on Issue 4 of Philippine Resources Journal.

[Representing a number of publications, the views of MissTolentino are her own and do not reflect the publication or entity she represents. For comments regarding this story, you may reach her at paulatolentino at gmail dot com] 

business, Economy, Investing, Mining, Money, Opinion

Market Views: Markets and Mining Sector Insights from a seasoned Investment Banker

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With the inevitable rise and fall of the markets, has the Philippine mining industry taken a turn for the worse?

The Philippine Resources Journal together with MissTolentino.com sat down with investment banker and Mabuhay Capital Corporation Chairman, Mr. Raymond Davis, to discuss his take on the current mining situation and if potential investors should be thinking twice before investing in another mine.

Philippine Resources Journal together with MissTolentino.com discuss Markets & Mining Sector Insights with Mabuhay Capital Corp. Chairman, Mr. Raymond Davis in the May-July 2014 Economic Commentary issue of Philippine Resources Journal
Philippine Resources Journal together with MissTolentino.com discuss Markets & Mining Sector Insights with Mabuhay Capital Corp. Chairman, Mr. Raymond Davis in the May-July 2014 Economic Commentary issue of Philippine Resources Journal

 

The May-July issue 2014 of Philippine Resources Journal is now available.
The May-July issue 2014 of Philippine Resources Journal is now available.

 

 

For the full story, turn to page 24 of the May-July issue of the Philippine Resources Journal entitled:

Market Views: Markets and Mining Sector Insights from a seasoned Investment Banker

LINK: http://issuu.com/paperlesstrail/docs/philippine_resources_issue2_2014__m?e=0/8269815