Since SMI took over the project in 2002, it has undertaken numerous significant environmental and community development activities in the project area.
The Catholic Bishops Conference of the Philippines (CBCP), in a statement over the weekend, called for the repeal of the Mining Act of 1995, saying that "mining threatens people’s health and environmental safety through the wanton dumping of waste and tailings in rivers and seas."
The Tampakan project, currently at pre-feasibility stage, is undergoing extensive technical evaluation to determine full viability.
In spite of this, SMI said it has invested substantial risk capital to ensure that it adheres to very stringent standards for sustainable development set by the World Bank, the International Council on Mining and Metals, and the Department of Environment and Natural Resources.
"In addition, the safety, environmental and social standards contained in the Mining Act of 1995 are sufficient safeguards for the public to be assured of responsible mineral development in the country," Dominguez said in a statement.
Dominguez added that the magnitude of the Tampakan project indicates that it will be a major economic contributor not only in Mindanao but to the entire country as well.
To date, SMI has numerous projects in environmental protection, reforestation, water system studies and other research projects, which are undertaken with the participation of local communities and the academe.