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Saturday, September 02, 2006
Canadian envoy: Grab investment opportunity in mining
By Bong Garcia
Canadian Ambassador to the Philippines Peter Sutherland has urged the Philippine government and the private sector to get a slice of the $50-billion worth of global investments in mining.
"The Philippine should get a good share of it," Sutherland told the more than 500 businessmen at the opening of the 15th Mindanao Business Conference held at the Astoria Regency Convention Center in this city on Thursday night.
Sutherland said foreign mining companies are looking atn how the government and the mining firms operating in the Philippines perform.
"Big mining companies in the world including Canadians are watching the development of the mining companies operating in the country. They are watching to see what will happen," he said.
Sutherland urged the national government to create a council that will enforce responsible mining in the country in response to the "strong opposition" among some sectors against mining activities.
"This council will fill the communication gap and understanding, and will bring the pro-mining groups and the opposition in to one table, and I hope the government will be able to demonstrate its commitment to inform the people consistently and equitably on what is the world-class mining code. On the other hand the mining companies should commit themselves to responsible mining," he explained.
Sutherland said the Philippine government must show strong will in implementing responsible mining regulations.
He said future foreign investments in the country will depend on how those already on the ground will fare in the face of the opposition.
Without the mechanism for responsible mining, he said, "stakeholders are talking past each other."
"Mining industry is not easy. The government, mining companies, and the stakeholders should open communication lines and let the people understand fully what is mining," he said.
He said of eight Canadian mining investment projects in the country, three are in Mindanao, while others wait how these present investments will turn out before putting their money in the country.
"Right now we have eight mining companies in the Philippines and three of them are located in Mindanao, including TVI, which has been operating its gold and silver project in Canatuan, Siocon, Zamboanga del Norte for the last four years. They have already invested some $25-million in mining, and expected to double it in the next two few years."
Zamboanga City Special Economic Zone and Freeport Authority (ZamboEcozone) will highlight today its assets and advantages being a prime investment destination in the ASEAN Region.
(September 2, 2006 issue)
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