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Friday, March 05, 2004
DTI sec says mining key to econ dev't
KORONADAL CITY -- Department of Trade and Industry (DTI) Secretary Cesar Purisima said the mining industry has "tremendously positive impact" on the country's economy.
Purisima visited Koronadal last month as guest speaker in the 1st General Assembly of the South Cotabato Chamber of Commerce and Industry, where he declared support for "sustainable mineral development".
"Mining industry is recognized worldwide as the leading contributor to the growth of a nation as it attracts huge foreign investment and would offer employment to thousands of people. I simply can't understand the agenda of those opposing mineral development in the country," he said.
The province is known for its abundant mineral deposits that have yet to be tapped.
However, some anti-mining groups backed by the local church have been opposing the mineral exploration activities of Tampakan Mineral Resources Corporation (TMRC) in the area.
These groups have rejoiced over the recent Supreme Court ruling declaring the provision on the Financial Technical Assistance Agreement (FTAA) of the Mining Act of 1995 as unconstitutional.
Purisima, on the other hand, expressed disappointment over the ruling of the Supreme Court, which he said caused negative impact on foreign investments in the country.
He said DTI and other government agencies are working on measures to lessen the impact of SC's ruling.
Purisima said the Philippine Chamber of Mines has filed a motion for reconsideration in the Supreme Court to reverse its ruling on the FTAA.
(March 5, 2004 issue)
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