Labor officials said that the $171-million Toledo Copper Project is expected to generate 2,700 jobs during its operation, which is targeted to start next year.
In a press release, DOLE said that Labor Secretary Patricia Sto. Tomas had received a report indicating that eight mining projects, including the one in Toledo City, are projected to produce more than 20,000 jobs for skilled workers during their construction and operation periods. These projects have already been started and are now ongoing in various provinces in the country, it added.
The Atlas Consolidated Mining and Development Corporation, which used to be the biggest copper mining firm in Asia, employed about 10,000 workers during the height of its operations. Of the total number of employees, only about 2,000 were paid their salaries and benefits after the mining firm closed in 1994 due to a drop in copper prices, labor problems and ballooning debts. Earlier, the Mines and Geosciences Bureau revealed that ACMDC will start its reconstruction and development next year.
MGB Assistant Secretary Jeremias Dolino said that although putting Atlas into operation again would cost $160 million or P8.8 billion, there are interested investors who are willing to put in money to revive it, especially now that the country has opened its mining industry to foreign firms.
Sto. Tomas said that the Philippines remains one of the prime and key strategic mining areas of the world due to its advantageous geological features. Globally, the country ranks third in terms of gold deposits, fourth in copper, fifth in nickel, and sixth in chromite. Aside from the Toledo Copper Project, the seven other projects, which are collectively valued at US$ 1.832 billion, are Adlay-Cagdianao-Tandawa Nickel Project in Surigao; Didipio Copper Project in Kasibu, Nueva Vizcaya; Aroroy Gold and Silver Project in Masbate; Siana Gold Project in Surigao; Tampakan Copper Project in South Cotabato; Itogon Gold Project and Boyongan Copper Project, both in Benguet. - Wenna A. Berondo