Dec. 4, 2017: 2 PH mining firms win at first ASEAN Mineral Awards

Dec. 4, 2017: 2 PH mining firms win at first ASEAN Mineral Awards
 

Two Filipino Mining companies are now hoping to make the entire Philippines and President Rodrigo Duterte proud after winning big at the first ASEAN Mineral Awards, which recognize the best mining firms throughout the Association of Southeast Asian Nations (ASEAN) region.

Joey Leviste, chairman of Oceanagold Philippines Inc., said that Oceana Gold and a Nickel Asia Corp. (NAC) subsidiary both won at the first ASEAN Mineral Awards (AMA), which is now being held on the sidelines of ASEAN Ministerial Meeting on Minerals in Naypyidaw, Myanmar.

To be exact, OceanaGold has been named as the Best for Mineral Processing among all miners in the ASEAN region, while NAC’s Rio Tuba Nickel Mining Corp. (RTNMC) topped the Best Mineral Mining category.

Dec. 4, 2017: Brunei initiates launch of Asean Mineral Awards

Dec. 4, 2017: Brunei initiates launch of Asean Mineral Awards
 

THE sixth Asean Ministerial Meeting on Minerals (6th AMMin) was held on November 30, 2017 in Nay Pyi Taw, Myanmar. U Ohn Winn, Union Minister for Natural Resources and Environmental Conservation of Myanmar, chaired the meeting.

The meeting was attended by delegates of Asean member countries comprising Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Myanmar and representatives from the Plus Three countries namely China, Japan and Korea.

The Asean Secretariat also attended the meeting as the facilitator in the efforts of implementing the Asean Minerals Cooperation Action Plan (AMCAP)-III, Phase 1 2016-2020, in particular, the notable progress in the programme areas of capacity building and sustainable minerals development.

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. 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. 28, 2017: Miners push competitive output-based tax regime | BusinessMirror

Nov. 28, 2017: Miners push competitive output-based tax regime | BusinessMirror
 

The Chamber of Mines of the Philippines (COMP) said it welcomes the plan of the Mines and Geosciences Bureau (MGB) to base the planned increase in mining tax on mineral output, instead of imposing a uniform levy.

But it should be benchmarked globally, or the Philippines will just lose mining investments to countries with a more competitive tax regime.

Ronald Recidoro, executive director of COMP, told the BusinessMirror in an interview that COMP’s proposal during the Aquino administration was, in fact, a commodity-based approach to mining taxation, which he described as more accurate and more correct.

“It’s more accurate if we treat gold and copper differently from iron ore, nickel and chromite, because they have different economics.  That’s the direction to take
if we are to renew the fiscal regime for mining; a different treatment for a different commodity,” Recidoro said.

Nov. 28, 2017: Villanueva introduces amendments to tax reform bill; pushes for higher taxes on coal, mining

Nov. 28, 2017: Villanueva introduces amendments to tax reform bill; pushes for higher taxes on coal, mining
 
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 coal tax has remained unchanged for decades since 1988. Four years before that, our excise tax was set at P50.00 per metric ton under Executive Order No. 1933. In 2017 value, that P50.00 excise tax is equivalent to about P600.00 per metric ton.  However, we are instead collecting a P10.00 tax per metric ton in the present – the same rate we have been imposing almost 30 years ago.” said Villanueva, vice chairman of the Senate committee on ways and means.
Villanueva stressed that the government is currently not only imposing a tax rate pegged at 1988 level, but also exempting the local industry from paying the excise tax since 1976.
“In the 1970’s, the coal mining industry could be deemed as an emerging industry in need of government support.  In our desire to expand the industry, we needed to attract private sector participation in the coal mining industry. With this idea in mind, our government gave away generous incentives to private contractors to make sure that coal mining venture will be lucrative.  This was exactly the intention of Presidential Decree 972 or the Coal Development Act of 1976,” Villanueva said.

Nov. 27, 2017: MGB wants to hike mining excise tax based on output | BusinessMirror

Nov. 27, 2017: MGB wants to hike mining excise tax based on output | BusinessMirror
 

The Mines and Geosciences Bureau (MGB) is more partial to adjusting the excise tax slapped on mining firms based on their minerals production than peg the increase at a uniform rate.

Interviewed during the 64th Annual Mine Safety and Environment Conference (ANMSEC) in Baguio City last Thursday, MGB Director Wilfredo G. Moncano said the agency will soon come up with its proposal for hiking the excise tax on mining firms.

The MGB, an attached agency of the Department of Environment and Natural Resources (DENR), is the government’s primary mining regulatory body.

Nov. 27, 2017: MGB wants per commodity mining tax

Nov. 27, 2017: MGB wants per commodity mining tax
 

As the country heads towards a new fiscal regime in mining, Mines and Geosciences Bureau (MGB) wants the increase in the mining excise tax to be per commodity basis, which would require the government to put up extra work starting with the policy making process up to implementation.

MGB Director Wilfredo Moncano said his agency will soon come up with its own proposal with regards to the call for a mining tax hike — suggesting that the increase in mining tax should not be uniform and that each commodity such as gold, nickel, and copper should have its own tax adjustment.

“There has been a lot of discussion about this. In the congress, there’s a pending bill on increasing the fiscal regime. In the industry, they have been talking about this too. In the MGB, we also have our own discussion,” Moncano said in an interview with reporters.

Nov. 27, 2017: Philippines’ Duterte spokesman says ban on open pit mining remains

Nov. 27, 2017: Philippines’ Duterte spokesman says ban on open pit mining remains
 

MANILA, Nov 20 – Philippine President Rodrigo Duterte has not lifted a ban on open pit mining, his spokesman said on Monday, amid plans by a government panel to seek the removal of the policy.

“I assure you that this is one of the instances when I personally asked the President if there’s been a change in policy. And he says that’s there’s still no new policy on this, there’s still a ban on new open pit mining,” Harry Roque told a media briefing.

The Mining Industry Coordinating Council last month recommended the lifting of the ban on open pit mining and Environment Secretary Roy Cimatu has said he was hopeful that the restriction would be removed before year-end.