Mining to bring P236.6M dev’t projects in Cordillera

By Carlito Dar

BAGUIO CITY – Cordillera mining firms are set to being in P236.6 million in development projects in the region. 

The Mines and Geo-sciences Bureau of the Department of Environment and Natural Resources-Cordillera reported this saying the mining industry in the region is bullish.

Mine Safety and Environment Division Head Felizardo Gacad, told a radio interview community development projects under the Social Development Management Program of mining companies are on the increasing trend.

From around P66.33 million in SDMP fund allocations in 2012, it has been increasing annually. For this year, the mining industry is set to bring in around P236.6 million in social development projects in the region.

Said figures  are the  total SDMP of mining companies operating in the Cordillera particularly in Benguet,  which include Benguet Corporation, Balatoc Gold Resources Corp. – Balatoc Tailings Project, Benguet Management Corp. – Irisan Lime Project, Itogon – Suyoc Resources Inc., Lepanto Consolidated Mining Company, Philex Mining Corporation, ML Carantes Development and General Construction Enterprises, Mountain Rock Aggregates and Rolando Bautista.

Gacad said SDMP fund allocation represents 1.5 percent of the operation cost of a mining company in a year and is being allocated and implemented the succeeding year.

Aside from SDMP, mining industry’s contribution to the country’s economy also include investment opportunities, employment and job generation as well as income to the national and local governments in terms of taxes.

The industry also brings in direct contributions to the mining communities in terms of education, health, transportation facilities, water supply, electricity and livelihood opportunities, Gacad added.

For taxes, Gacad reported that from 2008 to 2013, mining companies in Cordillera alone  paid around P14.56 billion including taxes to the national government, local government units and royalties to indigenous people for the use of their land.

While the mining industry is a big contributor to the country’s economy,  the government through DENR – MGB  should  ensure that mining companies are complying  to all mining and environment laws  for  responsible and sustainable industry, he said.