Tuesday, January 24, 2012

DENR says SC can still save $6-B Cotabato mining project

DENR says SC can still save $6-B Cotabato mining project

The latest on the 'open pit mining ban' controversy: national officials are hands-off from the dispute between local government and miners.

"If SMI wants to resolve the dispute with the local government, the best way to do it is to get a relief from the Supreme Court to declare the provincial government’s rule as illegal as it is contrary to national policy, [Environment Secretary] Paje said.

"The Tampakan mining investment by SMI, the local subsidiary of global mining firm Xstrata Plc, is potentially the biggest in Southeast Asia at nearly $6 billion. It was supposed to start construction this year, eyeing commercial operation to start in 2016.

"SMI said it was “extremely disappointed” with the DENR’s decision."