'We don't need a new mining law'

MANILA, Philippines - Chamber of Mines of the Philippines (COMP) president Benjamin Philip Romualdez urged Senate President Juan Ponce-Enrile yesterday to be circumspect in acting on a number of bills being filed by party-list groups seeking to amend or even pass new mining laws.

“We do not need a new law,” Romualdez said, adding that “the current Mining Laws should be given a chance to work properly.”

Romualdez noted a “constant filing” of new bills seeking to repeal or amend the existing Mining Law from party-list groups.

Enrile, who formally opened yesterday the Mining Philippines 2009 Exhibit at the Sofitel Hotel in Pasay, acknowledged the economic benefits that the mining industry can bring to the country in terms of investments and employment.

However, Enrile urged local mining firms to “exercise prudence and extreme caution” in their mining activities.

Enrile noted that if mining activities are properly conducted, the sector could provide much needed employment for Filipinos who are currently forced to seek employment outside the country.

The mining sector, Enrile added, has been a growth driver for the Philippine economy and if properly managed would continue to be an engine of growth.

Romualdez assured that while the sector continues to encounter occasional slumps, it remains a bright spot especially as the global economy continues to recover.