May 15, 2017: Mine’s growth potential stressed

May 15, 2017: Mine’s growth potential stressed

DESPITE its high potential for growth, the mining industry faces three major challenges—the new administration’s stand on mining, existing debate on the industry’s fiscal regime, and existing impositions from previous administrations that have kept employment levels low.

A study undertaken by the Department of Labor and Employment’s Institute for Labor Studies observed that the Duterte administration’s stand on “responsible mining” and its most recent actions have kept mining companies on their toes.

The study, commissioned by the Chamber of Mines of the Philippines, asked the mining companies if they intentionally reduced their workforce at any time in 2015.

Five out of 21 companies or 23.81 percent answered “yes,” citing financial losses, uncompetitive price, and off-mining season or the lack of mining activities as their reasons.

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