Duterte Lifts Ban on New Mining Deals
President Rodrigo Duterte has lifted a nearly decade-old ban on new mining agreements imposed by his immediate predecessor Benigno “Noynoy” Aquino III, in a bid to support the government’s ambitious infrastructure push.
Duterte, through Executive Order No. 130, said new mining agreements could stir economic growth to support the "Build, Build, Build" infrastructure program and other initiatives.
"The Government may enter into new mineral agreements, subject to compliance with the Philippine Mining Act of 1995 and other applicable laws, rules, and regulations," the President said in his order.
The moratorium on new mining deals was imposed by Aquino in 2012.
Under Duterte’s new order, the Department of Environment and Natural Resources is tasked to "formulate the terms and conditions in the new mineral agreements that will maximize government revenues and share from production, including the possibility of declaring these areas as mineral reservations to obtain appropriate royalties, in accordance with existing laws, rules, and regulations."
The DENR was also tasked to review existing mining contracts for possible renegotiation of terms.
With the lifting of the ban, Duterte said the government hopes that it could stimulate development in the countryside.
This story originally appeared on Reportr.World. Minor edits have been made by the Esquiremag.ph editors.