Nov. 30, 2017: Metal production up 6% from Jan-Sept

Nov. 30, 2017: Metal production up 6% from Jan-Sept
 

MANILA, Philippines — Metal production rose six percent to P81 billion in first nine months of the year due to the continued improvement of prices in the world market, the Mines and Geosciences Bureau (MGB) said.

The aggregate value of metal production for January to September this year was higher than the P77 billion recorded in the same period last year.

“The encouraging price gain of base metals was primarily due to the increased metal demand of China. World metal analysts reported that the strong demand of China for said metals were for its infrastructure, automotive, and construction sectors,” MGB said.

Nov. 30, 2017: Indonesia eyes global playing field with state mining conglomerate- Nikkei Asian Review

Nov. 30, 2017: Indonesia eyes global playing field with state mining conglomerate- Nikkei Asian Review

JAKARTA — The day began with dozens of Indonesian government officials and state mining executives shuffling in and out of marathon meetings at one of Jakarta’s oldest hotels. By late afternoon Wednesday, they had opened a new chapter in the country’s efforts to revitalize the mining sector.

Indonesia Asahan Aluminium, a state-owned aluminum refiner known as Inalum, was transformed into a holding company that controls nonferrous metal producer Aneka Tambang, coal company Bukit Asam and tin miner Timah. The government’s 65% stake in each of the three listed companies has been transferred to Inalum. The remaining shares will remain publicly traded.

Nov. 29, 2017: Fulbright fellow researches impact of mining in Philippines :: Indiana University Kokomo Newsroom

Nov. 29, 2017: Fulbright fellow researches impact of mining in Philippines :: Indiana University Kokomo Newsroom
 
November 28, 2017

KOKOMO, Ind. —A gaping hole in the ground, and piles of rock and rubble, were all that remained of the remote section of mountain in the Philippines. The land, which formerly supported nearby villagers, stands ruined, bulldozed and stripped of its trees.

Since August, Ligaya McGovern has witnessed the results of corporate mining in her native country, talked to the people impacted, and prepared to tell their stories to the world.

“I’m very thankful, and I feel very fortunate to have this opportunity to be with people who are struggling for social justice, for the right to their ancestral lands, and out of concern for their environment,” said McGovern.

Nov. 29, 2017: Feature: Artisanal, small-scale miners scrape hard living in Philippines

Nov. 29, 2017: Feature: Artisanal, small-scale miners scrape hard living in Philippines
 

JOSE PANGANIBAN, Philippines, Nov. 28 (Xinhua) — On a sunny November day, Domingo Chavez, with a goggle strapped over his eyes and an oxygen hose plugged in his mouth, plunged into a gold mine dug in a paddy field in Jose Panganiban, in central Philippine Camarines Norte.

After about 40 minutes of working in the 10-meter deep underwater tunnel, he surfaced with two bags of rocks fished out of the muddied hole. “I know it is dangerous. In the past some people were buried alive when the shaft caved in,” Chavez said.

Thirty-seven-year old Chavez is an artisanal and small-scale gold miner, one of over 300,000 artisanal gold miners in the country, including over 18,000 women and children, who scraped a hard living by working in ramshackle and dangerous mines.

Nov. 29, 2017: DENR to let small miners thrive, but in legal manner | BusinessMirror

Nov. 29, 2017: DENR to let small miners thrive, but in legal manner | BusinessMirror
 

The Mines and Geosciences Bureau (MGB) is looking at establishing more Minahang Bayan under the Duterte administration to better regulate small-scale mining and increase government revenue from the extraction of mineral resources.

“Personally—and we in the MGB— support the legalization of illegal small-scale mining,” Director Wilfredo G. Moncano said in a recent interview on the sidelines of the 64th Annual National Mine Safety and Environment Conference (ANMSEC) held in Baguio City from November 23 to 25.

According to Moncano, less than 20 percent of small-scale mining cooperatives are operating legally, with less than 20 Minahang Bayan approved for operation in
the Philippines.

Nov. 29, 2017: Villanueva amendments to TRAIN bill raise coal tax from P10 to P300 per mt; double mining resource tax

Nov. 29, 2017: Villanueva amendments to TRAIN bill raise coal tax from P10 to P300 per mt; double mining resource tax
 

MANILA – Senator Joel Villanueva on Monday night introduced amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Bill proposing to increase taxes on coal and mining.

With 11 affirmative votes, one negative and one abstention, the Senate approved the amendment raising the coal tax from P10 per metric ton to P300 per metric ton.

The Senate also approved to increase the excise taxes on metallic and non-metallic mining resources from 2% to 4%.

Nov. 29, 2017: Proposed mining tax hike ‘really heavy,’ says Global Ferronickel

Nov. 29, 2017: Proposed mining tax hike ‘really heavy,’ says Global Ferronickel
 

MANILA – The potential doubling of mining taxes will be a “really heavy” burden and some players “might not survive” if commodity prices are down, a mining company head said Tuesday.

The Senate on Monday doubled excise tax rates on mining as part of a broader tax reform package that it hoped to pass this week.

Nov. 29, 2017: Mining stocks fall as Senate approves nearly 3,000% coal tax hike

Nov. 29, 2017: Mining stocks fall as Senate approves nearly 3,000% coal tax hike
 

MANILA, Philippines – Mining stocks took a dive after the Senate approved a nearly 3,000% increase in coal taxes as part of the Duterte administration’s comprehensive tax reform package.

The mining and oil index was the worst performer of all Philippine Stock Exchange (PSE) indices on Tuesday, November 28, falling by 615.65 points or 5.07% to end at 11,526.59 as trading closed.

All of the PSE indices, save for financials, were down on Tuesday, which caused the main PSE index (PSEi) to fall by 69.81 points or 0.84% to close at 8,291.88.

Nov. 28, 2017: Tempers flare as senators double mining taxes without hearings

Nov. 28, 2017: Tempers flare as senators double mining taxes without hearings
 

MANILA, Philippines – In an unusual move, the Senate overwhelmingly voted Monday, November 27, to double mining taxes even though there were no committee hearings conducted earlier to discuss the issue.

It was Senate President Pro-Tempore Ralph Recto who first introduced the proposal but later withdrew it. Senator Francis Escudero, however, revived it, saying it was high time to increase taxes of mining companies for “raping” the country.

This did not sit well with Senate ways and means committee chair Juan Edgardo Angara and Senate environment and natural resources chair Senator Cynthia Villar, who both said it was unfair for the industry to be taxed without hearing their side.