Philippine Mining 2014 : 'the next 25 years ".


Mining Philippines 2014 : the next 25 years is running very hot , on discussion today . Being headed by Mr. Benjamin Philip G. Romualdez ,President of Chamber of Mines of the Philippines , President and CEO , Benguet Corporation one major plea from the government sectors " put mining industry in the top priority in the total National Economic Development Plan or National Industrialization Vision of the country".

Since , yesterdays September 16, 2014 the Mining Conference had been a mind boggling interlocutor for every think thanks , curious and the naive one.

It has been said that total Mine Potentials of Philippines for Gold alone can pay the total Philippine debt for almost eight folds . That its total worth if extracted could provide the total budget requirement of the Philippines 30 times. For now according to Global Minerals Reserved survey Philippines is the 3rd gold rich country next to Australia and South Africa.

However , despite of the great potentials of the Philippines its gross out in Minerals is only 6 percent of the total Asian Mineral Output as of today. Other Asian country's have been on their way exploiting the potentials of the mining industry.

Why the Philippines had been lagged behind in the minerals extraction capacity. Due to regulatory restrictions which is given, probably because for the last 20 years , the focus of the Philippines , speaking the Filipino populace is in the developing talents for the stage of entertainment. The academic significance of Science , particular Chemistry had not been the core of the over all economic agenda.

Today's Mining 2014 Conference , Senator Allan Cayetano , main proposition is to change the mindset of the Filipino populace regarding the environmental implications of the mining industry. By changing " Chamber of Mining ", to " Department of Minerals Extraction " would some how help , erasing the stigma of environmental degradation associated with the mining industry.

Since, Mining is correlated with Minerals, backed to the contention of neglect of academe of putting the research science base lead economy , the table of contents of chemistry seems much profitable than the motivated entertainment lead economy " fueled by the mtv generation".

Today's Mining Conference only talks about Extract Mineral like gold, copper, nickel , coal , but how many Minerals are there in the table of Chemistry ?, that needs to be prioritized given with huge budget since all these Minerals are currently abound in the Philippines?

What is more intriguing to ponder upon , in today's forum on Mining 2014 is the talk of Mr. Julian H. Payne on " Realizing Mining's Potential in the Philippines : Foreign Investments Can Help in the Prosperity of the Philippines, and on each Filipino lives?. Mr. Julian H. Payne, President , Canadian Chamber of Commerce of the Philippines opened his remarks with the famous quotation from English Playwright , William Shakerspearewhich simply says" lets take advantage with our potentials for with out doing so , we live in a quagmire of misery".

The experienced man as an economist , industrialist, organizational speaker leaves seven points to ponder for today's Mining 2014 delegates .

1. Large Scale Mining is essential for the Philippines to meet the large scale global demands .


2. Large Scale Mining is credible to catch up FDI foreign direct investment -necessary for mining co. to be global competitive meeting the demands of the global market.

3. Large Scale Mining is capable to be responsible given with its resources through its programmed in CSR corporate social responsibility.

4. Unchanged impediments in the mining sector affects FDI - like average effective tax rate.

5. Fiscal policy discourage mining sectors

6. Proposed banned of importation/exportation of raw ore affects in the inter link chain processes of the mineral industry and its by products industry ( processing and manufacturing).

7. Declared " No Go Zone" not based on land based use assessment " affects the major growth, strategy of the mining industry.


This restrictions and impediments in the industry , probably based on the myopic , uninformed bases . To give an example , a country like Norway is one of the few Nation which is rich in oil and gas deposits. The King knowing that its deposits is not forever ,knowing that such minerals is god endowed from them, the first thing He does is to set a "Oil Funds" dedicated for the whole People of Norway . Its a sovereign wealth to be passed on to the next generation. To make it sustainable ,the King deposits the fund in a major banking institution in Europe. The funds become a perpetual in nature. Just to ensure the next generation would benefits the same quality of lifestyle , comfortable living standard as what they are today ( the most admired county to live by due with its good living standard).

May be the Philippines government agencies , regulators , policy makers should also emulate that kind of King of Norway's thinking and simple strategy.

Because if the Philippines would not do so , what will be the next generation would look like?


SOFITEL LUXURY HOTELS , is the host of the Philippine Mining "the next 25 years " .


Henry Henry Casulla Estipona
0943-437-90-23
www.on-linexpress.blogspot.com
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