Sarangani business leader endorses Tampakan project

MANILA, Philippines - A local business leader in Sarangani Province has cited the huge potential economic impact of the Tampakan copper-gold project not only to the host communities, but the whole of Mindanao.

Alfredo Hebrona Jr., former chairman of the Sarangani Chamber of Commerce and Industry and private sector representative of the Regional Development Council (RDC) in Region XII, said “the RDC has been endorsing this project because we know the potential economic impact on the region once this rich deposit is developed.”

The government forged a financial and technical assistance agreement (FTAA) with Sagittarius Mines Inc. (SMI) to explore, develop and operate the $5.2-billion Tampakan copper-gold project, considered the largest single investment in the country.

Hebron, speaking in a forum sponsored by the Philippine Information Agency (PIA) at General Santos City, noted that additional jobs will be created as a result of direct employment generated from the Tampakan project.

“On job estimates alone, it is expected to provide up to nine times na job multiplier. For every one directly employed by the project, nine will be indirectly given a job. The impact will not only be in South Cotabato but within the region and even Mindanao,” Hebron said.

Based on an independent economic study, the Tampakan project is expected to provide employment to an estimated 9,000 workers in its construction phase and over 2,000 during its operation.

“Because of the skills that will be needed, the goods and the supplies that they will procure, yung mga produkto na wala pa tayo na kakailanganin ng operation — definitely there will be demand for that. And we from the private sector, that’s another source of entrepreneurial enterprise,” he added.

Aside from the employment, the Tampakan project will provide at least P65-billion in taxes and royalties that will be paid to local government units, host barangays and tribal communities were estimated to be at least P65 billion.

The National Government, on the other hand, stands to receive a total of P225 billion in taxes during the life of the mine.

“We foresee a very huge impact not only economically, but, socially as well. Poverty will be addressed. Peace and order, which is related to poverty, will also be addressed,” Hebron said.