Thursday, 24th August 2006 (1400 views)

The president of the Philippines, Gloria Macapagal Arroyo, is hoping that foreign investment in the mining sector will help to boost the country's economy.

According to Mines and Communities, she said that Anglo American is planning to ramp up its operations to extract the country's mineral resources, which include gold and nickel.

Arroyo met Anglo managers to discuss a project in the Mindanao region of the Philippines, where there have been political problems involving Islamic insurgency.

The issues were not putting off companies that could be a "major source of investments" in the country, she claimed.

The operations of Australian gold miner Lafayette in the Philippines were recently halted by a spill that killed fish in Rapu Rapu and some called for a total ban on mining.

However, presidential chief of staff Michael Defensor upheld that "well-paying, sustainable jobs in the mining sector can be had side-by-side with strict environmental protection measures".

The Philippines is mineral-rich and expansion of the mining sector will bring revenue for the government and employment for the people.

 

« Back to the stories

 

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.