“While a tax increase is inevitable, we believe this progressive and responsive approach allows the government to benefit more when global commodity prices rise, without placing undue burden on miners during market downturns,” said Atty. Michael Toledo, chair of the Chamber of Mines.
The Chamber of Mines of the Philippines described the high court’s ruling as a stabilizing measure that reinforces the legal foundation provided by Republic Act 7942, or the Philippine Mining Act of 1995.
COMP acknowledged the environmental concerns behind the moratorium but argued that the existing legal framework already provides strict environmental safeguards. It cited the Philippine Mining Act of 1995 and various regulations that mandate responsible mining practices.