Corporate Responsibility

IFC Investment in Mindoro Resources Supports Responsible Mining in the Philippines

Kailash — Wed, 28 Jul 2010 09:22:43 +0100

WASHINGTON, DISTRICT OF COLUMBIA and MANILA, PHILIPPINES – IFC, a member of the World Bank Group, today agreed to invest about 2.1 million Canadian dollars in Mindoro Resources Ltd to support a nickel exploration project in the Philippines that is expected to provide jobs and government revenues once a mine is developed.

Mindoro, a Canada-based mining exploration company, will use IFC’s investment for exploration at the Agata nickel project in the Surigao district on Mindanao Island.

Groups Hit DENR for Seeking Compromise on Controversial Mining Deal

Kailash — Wed, 28 Jul 2010 09:17:46 +0100

Manila — Various groups criticized the DENR today, for pushing for a compromise deal on the controversial Tampakan mining project in South Cotabato. Sec. Ramon Paje was quoted yesterday in major dailies, that the “DENR will protect the investment” in the threatened mining project. According to Paje, the marching order for him was to find a “win-win solution” to this issue. The Province of South Cotabato formalized its passage of its Environment Code last June 28, putting a ban on open pit mining. The local code has effectively put in limbo one of the largest mining project in the country.

Groups seek stronger World Bank investment standards to protect poor

Kailash — Tue, 20 Jul 2010 20:33:54 +0100

Organizations from different Asian countries demanded that multilateral agencies place additional and stronger safety provisions in their investment standards to ensure that poor communities do not become more vulnerable due to ‘aggressive’ development projects.

The call came in the heels of a scheduled review process of the International Finance Corp. (IFC) —- the World Bank’s (WB) investment arm —- to revise its performance standards in its investments in private sector lending in developing countries in Manila.

South Cotabato governor signs ban on open-pit mining

Kailash — Sun, 18 Jul 2010 17:57:31 +0100

GENERAL SANTOS CITY, Philippines — Religious and environment groups hailed outgoing Gov. Daisy Fuentes of South Cotabato for signing into law a local environment code, which banned open-pit mining in the province.

“Up to the last hour of her stay in office, Gov. Fuentes remains true to her promise to protect the environment and uphold the interest of the greater majority,” Fr.

CBCP tells Noynoy to implement mining moratorium

Kailash — Tue, 13 Jul 2010 09:49:50 +0100

A Catholic Church official urged President-elect Sen. Benigno Simeon “Noynoy” Aquino III to impose a moratorium on mining once he assumes office.

The Catholic Bishops’ Conference of the Philippines (CBCP) National Secretariat for Social Action (Nassa) also pushed for a review of mining policies.

“This is our call for President Noynoy. This is a big problem and it’s not true that mining brought development to communities where mining operations are present,” CBCP Nassa executive secretary Fr. Edwin Gariguez said in a Church-organized forum on mining.

Davao Sur guv slams mining firm for toxic waste dumping plan

Kailash — Mon, 12 Jul 2010 17:39:39 +0100

DAVAO DEL SUR – Governor Douglas Cagas lambasted the top executives of Sagittarius Mining Inc. (SMI) for planning to turn Davao del Sur province into a dumping site for mine tailings and toxic wastes coming from its mining site at Tampakan, South Cotabato.

“Why are you using our province of Davao del Sur as your dumping site?” Cagas asked, addressing his question to SMI top executives who were absent during the recent Mining Industry Forum held at the Grand Men Seng Hotel in this city.

10,000 march to press South Cot gov to sign environment code

Kailash — Wed, 07 Jul 2010 15:06:53 +0100

KORONADAL CITY — Pressure has continued to build up on outgoing South Cotabato Gov. Daisy Avance-Fuentes as she bides for time before deciding on the fate of the Provincial Environment Code passed last week by the Sangguniang Panlalawigan which bans open-pit mining.

Earlier reports quoted Fuentes as having said she was keen on signing the controversial code, citing the adverse impact of open-pit mining on water sources.

Her pronouncement sent an estimated 3,000 opponents of the code, who are supporters of the huge copper and gold venture of foreign-backed Sagittarius Mines Inc.

The Diocese of Marbel Lauds South Cotabato SP Members

Kailash — Mon, 28 Jun 2010 21:34:13 +0100

The Diocese of Marbel commends members of Sangguniang Panlalawigan of South Cotabato. For passing the Environment Code that bans open pit mining methods in the province, they are leaving behind a legacy worthy of praise by the people of the province.

For mining companies like SMI/Xstrata, we understand they will continue to spread a scenario of doom for the province and for the country if the open pit ban is implemented. It is not also lost on us that their major concern is to profit from the mineral deposits of our province.

Zijin Says Open-Pit Ban Adds 'Uncertainties' to Indophil Mine

Kailash — Tue, 22 Jun 2010 15:04:06 +0100

Zijin Mining Group Co., buying Indophil Resources NL, said a ban on open-pit mining by a local government in the Philippines adds “uncertainties” to the Tampakan mining project partly owned by the Australian company.

Zijin in December agreed to buy Indophil Resources to gain a stake in Southeast Asia’s largest untapped copper and gold deposit in the Philippines. The bid is awaiting Chinese regulatory approval.

“Since we are still awaiting approval for the bid, we can’t say what we will do,” Zhao Jugang, head of board secretary office at Zijin, said by phone.

South Cotabato board prohibits open-pit mining

Kailash — Wed, 09 Jun 2010 19:25:14 +0100

KORONADAL CITY – Leaders of the local Catholic Church rejoiced on Thursday after the Sangguniang Panlalawigan, or provincial board, in resource-rich South Cotabato voted to ban the open-pit mining method.

The ban is contained in the long-deliberated environment code of the province.

In a marathon session on Wednesday, the provincial board members voted six to five in favor of the provision banning open-pit mining. There was one abstention while two other members were absent during the voting for the second reading of the bill, where amendments were made section by section.