Having covered the mining sector as a journalist and now working for a company with some of the largest mines in the country, I’d say mining companies are partly to blame for how people developed their perception about the industry.
“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.
Benguet Corp. is optimistic about surpassing its 2024 performance, driven by surging gold prices and a fully settled debt position. Management says the focus now is on diversification and long-term value creation after using 2024 to stabilize its balance sheet.
Tycoon Enrique Razon Jr.’s Apex Mining Co. Inc. delivered a strong financial performance in 2024, posting a 28 percent increase in net income to P4.3 billion, up from P3.4 billion in 2023.
With gold prices soaring to record highs, global tycoons are turning their attention to the massive Tampakan mine, eyeing it as the next big opportunity.
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.
DMCI Mining Corp. and Nickel Asia Corp. have signed an initial agreement to explore building a nickel processing plant in the Philippines, a move that could strengthen the country’s position in the global industry.
OceanaGold Philippines, the operator of the Didipio mine in Nueva Vizcaya, is rewarding shareholders with a $22.9 million fourth-quarter dividend, bringing total payouts to $69.4 million since its listing last May.