Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Philippines' Duterte says will review minister's decision to close mines

Published 18/02/2017, 05:41 pm
Updated 18/02/2017, 05:50 pm
© Reuters.  Philippines' Duterte says will review minister's decision to close mines

© Reuters. Philippines' Duterte says will review minister's decision to close mines

By Manolo Serapio Jr

MANILA, Feb 18 (Reuters) - Philippine President Rodrigo Duterte said he will review his minister's order to close more than half the country's mines for environmental violations, following an outcry from affected producers.

"I will review. There's such a thing as exhaustion of administrative remedies," Duterte said in a speech late on Friday.

It was the first time Duterte said he would review the decisions of Environment and Natural Resources Secretary Regina Lopez to shut mines and cancel mining contracts.

The firebrand leader, angered by the environmental harm mining has caused, had initially thrown his support behind Lopez's actions,

"I will not judge her now. I will see if there's something wrong," Duterte said on the decision to shutter mines.

Lopez on Feb. 2 ordered the closure of 23 of the country's 41 operating mines. Another five mines were suspended. Philippines is the world's top supplier of nickel ore and the affected mines account for about half of its annual output.

A committed environmentalist who describes herself as an eco-warrior, Lopez said the mines were located in watershed zones and have caused siltation of coastal waters and farmlands.

This week, she ordered the cancellation of 75 contracts for undeveloped mines she said were located in watershed areas. however, said "We get something like 70 billion pesos a year out of the mining operations in the entire Philippines. We have to also take (that) into consideration."

Miners whose operations were suspended or ordered to close have said they will take legal action to overturn Lopez's ruling.

A mining industry group has said the move to shut and suspend operating mines would affect 1.2 million people.

The first option for affected companies is to appeal to Duterte, and failing that, they could seek relief with the appellate court and later the Supreme Court.

Australian miner OceanaGold Corp OGC.AX , which runs the Philippines' biggest gold mine and was ordered to suspend operations, said earlier this week it had filed an appeal with Duterte's office, putting a stay on the execution of the suspension order.

Marcventures Mining and Development Corp MARC.PS , whose nickel mine was ordered to close, said on Friday it will take legal action to prevent implementation of the order and that it plans to ship out ore next month. Graphic of Philippine mine closures

http://tmsnrt.rs/2kq8ke4

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reportig by Enrico Dela Cruz; Editing by Eric Meijer)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.