With the vast mineral resources of the Philippines, mining has immense potential to become a major economic driver for the Philippines. However, we have yet to fully develop this industry. Challenges such as policy issues, and environmental and safety concerns have hindered the growth of the local mining industry for years, and as a result, have also limited its contribution to our economy.
Today, more opportunities for the mining industry are emerging with the growing demand for green metals such as nickel and lithium as the world moves to accelerate the adoption of clean and green technology. “The world is entering an era of sustained resource demand as economies expand and population explodes. The Philippines missed the economic bus during the manufacturing cycle in the 50’s and 60’s, and the export boom in the 70’s and 80’s. This time we cannot miss this bus yet again, with our available mineral resource base,” he said.
“There is a tremendous opportunity to use the extractive industry’s potential to propel long-term economic growth. Philippine companies have several opportunities in mining and mineral processing,” he said. As MVP emphasized:"Mining is not the enemy, but poverty is. The most damaging myth in which our industry must contend with is the idea that we must choose between sustainability and mining. We should forge ahead together as one industry, in unity, in strength, and do the right things for our people and for our planet."
All opportunities come with responsibilities. In any industry, realizing the full potential of an opportunity always comes with risks—that, if approached sustainably, can lead to shared benefits for all.
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Source: MlaStandard - 🏆 20. / 55 Read more »