MINING contributions in the region proved to be the least among economic drivers in the region.
National Economic and Development Authority Regional Director Milagros Rimando said the mining sector contributed just a little over one percent in the Cordilleras for 2015.
Rimando said the sector has failed to be an economic driver for the region for the past years citing the industry does not likewise impact employment as a whole despite the presence of three major mining companies.
These companies include Philex Mining Corporation, Benguet Corporation and Lepanto Consolidated Mining Corporation, located all in Benguet, which are the source of employment, livelihood and income for host communities and the province.
A Department of Environment and Natural Resources – Mines and Geosciences Bureau data reveal mining production for 2015 amounted to 11.2 billion and employed 6,974 from the industry.
Rimando said the seeming drop in the bucket contribution of the mines is the non-registration of the small scale mining sector which remains to operate illegally.
Contributions for employment, revenue as well as tax from the small scale mining industry are not recorded nor monitored.
Despite the dismal contributions of the mining industry, the region’s Gross Regional Domestic Product grew by 3.7 percent or P133.85 billion, a growth compared to the around 128.68 billion GRDP recorded in 2014.
The industry sector showed the biggest contributions with P63.68 billion to Cordillera’s GRDP, while the Services sector registering P47.71 billion.
Rimando outlined the good performance of the manufacturing sector with 40 percent growth which is up by four percent compared to the 2014 GRDP, as well as the good performance in the sub-sectors of real estate, renting and business activities, construction, transportation, storage and communications, and trade, showcased a seven percent or more growth compared to their 2014 performances.