Mining firms 'to stay in the Philippines despite attack'

Wednesday, October 12, 2011

NO MINING companies have pulled out investments from the country despite an attack of communist New People?€™s Army (NPA) rebels on operations in Surigao del Norte last week.

This was announced by President

Benigno Aquino III on Wednesday, adding that he has met with officials of Sumitomo Metal Mining Co. Ltd., the partner of Nickel Asia Corp., the Philippines' largest nickel producer. The company controls Taganito Mining Corporation in Claver whose operations were attacked by the rebels.

Have something to report? Tell us in text, photos or videos.

?€œI actually met with the officers of Sumitomo group who called on me yesterday (Tuesday) if I remember correctly. And they assured us that they have no intentions of pulling out,?€ he said during a forum of Foreign Correspondents Association of the Philippines at Mandarin Oriental Hotel in Makati City.

The President said the mining firm only requested the government to beef up security in their areas of operations.

?€œWe have already advised them of the corrective actions that are being undertaken,?€ he stressed.

He believed that no other foreign investors would indicate lack of interest in investing in the country since the victims themselves remain committed to continue their operations.

Last October 3, more than 200 heavily armed communist rebels attacked Taganito Mining Corp. damaging dump trucks, backhoes, barges and a guest house. The assault has temporarily suspended the operations of the mining, resulting in the plunge of its shares prices by 13 percent last October 5.

The mining company resumed its operations days later.

The President, meanwhile, allayed fears regarding the plan of the military to train special Civilian Armed Forces Geographical Units (Cafgu) to serve as security for the mining industries.

He dismissed criticism that the move may lead to the creation of private armies.

He said the special Cafgus will be under the supervision of the Armed Forces of the Philippines and that other units will be assigned to secure mining firms such as personnel from the Philippines National Police.

"They (Cafgu) are not in the control of private citizens and it takes care of a very basic need," he assured.

He noted that Cafgu members are needed to augment the insufficient number of policemen in the country.

"That is the exact same number of forces we had in 1986 when he had 50 million Filipinos. So we're asking the members, our citizens who are in uniform, to do double the work and I think that would be unfair," he said.

"Special Cafgus will be territorial-based, will be subject to all the rules and regulations, will be under the watchful gaze of our Commission on Human Rights chair Etta Rosales, and we do not foresee any abuses from them but rather they will augment the abilities of our security forces to preserve peace and order in our country," he added. (Jill Beltran/Sunnex)

Sun.Star on social media

Authors: mining - Yahoo! News Search Results