The government may earn up to P21 billion from excise taxes and royalty taxes on new mining projects following the lifting of the moratorium on new mining agreements under Executive Order No. 130, signed by President Rodrigo Roa Duterte on April 14.
The Department of Environment and Natural Resources (DENR) said around 100 mining projects may push through due to the new executive order.
“Ito ‘yung nakita natin na talagang isa sa mga paraan para tayo ay maka-ahon nang konti para naman magamit ‘yung mga pondong makukuha natin [This a way for us to recover a little and to use the funds that we can collect],” DENR Undersecretary Jonas Leones said.
“[In] one to five years, makikita na natin ‘yung epekto ng makukuha nating income dito [we will see the effect of the income we will gather from here],” Leones added.
While some environmental groups have expressed their dismay over the government’s move to lift the suspension, the Chamber of Mines of the Philippines welcomed the new executive order, saying it would help obtain more investments.
The DENR assured the public that environmental compliance will be strictly observed in new mining agreements to balance economic and environmental concerns. – Report from Patrick de Jesus/AG-jlo#
