Lafayette to pump P320 M yearly into local economy

Lafayette Phils. Inc. (LPI) will pump about P320 million each year in and around Rapu-Rapu in Albay in the form of salaries and wages and the purchase of goods and services once it resumes its operations.

These direct job and business opportunities, according to the company, have a multiplier effect as they encourage new businesses to be put up and employ more people.

On top of these, the project will be paying taxes both to the local and national governments, it said.

"This is just the start. We have more in store for our host communities once we resume operations," Carlos Dominguez, LPI chairman and president, said in a statement.

He added: "When I took over the company last month, I meant it when I said we will be partners, and that means that at the very least our duty is to conduct responsible mining."

In return, he said the company, since it has the resources, shall do its best to improve the circumstances of the residents of Rapu-Rapu and the surrounding communities in every aspect possible.

For instance, he said, the barangays of Pagcolbon and Malobago, which are directly around the project site, will be receiving around P10 million for street lighting, free electricity, and medical support for its 1,600 residents.

Schoolchildren will be given the supplies they need, both to make them better pupils and lessen the financial burden on their parents, he said.

"We are working very hard to win the confidence and support of the communities. We want to show them that we are doing responsible mining and that our activities are benefiting the local communities in the short and long term," he said.

The company estimates that annual purchases of fish, meat and groceries, for instance, run in the millions of pesos, perking up business opportunities in the communities and eventually creating directly and indirectly more jobs.

To meet the government requirements for resuming operations, the company has been upgrading its facilities.

The dams and ponds are being expanded and every channel where its process water will pass is being improved to ensure compliance with law.

Dominguez made it clear that he will not allow the project to resume operations unless he is personally satisfied that it has fully met all government requirements.

Since a new management took over Lafayette last month, its focus has been the full compliance with all the rules and requirements to ensure responsible mining operations and the protection of the environment and the host communities.