Responsible mining key to Philippine economic growth

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Philippine mining industry leaders are advocating for enhanced support for responsible mining, emphasizing its significant untapped potential to boost national economic growth and foster social development while maintaining environmental stewardship.

This push comes as the industry introduced the documentary “Living with a Brighter Future” during a launch event.

The documentary is part of the “Better Mining, Brighter Future” communication and advocacy campaign spearheaded by several mining associations, including the Chamber of Mines of the Philippines, the Philippine Nickel Industry Association, and other regional mining associations.

The documentary illustrates the collaborative efforts between mining companies, local communities, and government units, showcasing how responsible mining practices have positively impacted socio-economic conditions across Luzon, Visayas, and Mindanao.

Atty. Mike Toledo, Chairperson of the Chamber of Mines of the Philippines, detailed the industry’s contributions through the Social Development and Management Program (SDMP), which since 2002 has allocated PHP 31.81 billion to initiatives improving local infrastructure and social services in over 1,160 barangays.

“The industry’s environmental commitments have been significant, with PHP 387.81 billion spent on environmental protection and enhancement programs and PHP 6.72 billion dedicated to mine rehabilitation,” Toledo said.

Further, the industry has planted more than 50 million tree seedlings, covering almost 45 hectares, with a survival rate of about 90%.

Highlighting the sector’s economic impact, the documentary noted that in 2022 alone, mining contributed PHP 170.1 billion to the Philippines’ GDP and employed over 212,000 individuals.

In his keynote, Pocholo Domondon, Partner at PWC, reiterated the industry’s vital role underlined in the 2023 Philippine Development Report by NEDA.

Despite a decline in overall foreign direct investment, the mining sector saw significant growth in net equity FDI, particularly in manufacturing, transportation, and storage.

The documentary and campaign underline the industry’s vision for a sustainable future where responsible mining supports economic growth, social development, and environmental preservation.