Human rights volition Sunday, March 24th, 2013 In the recent mining trade show in Hong Kong dubbed “Mines and Money,” in which mining firms from all over the world got to meet investors to discuss their projects, more than 300 companies reportedly took part in the event. Only two of those came from the Philippines. It was an event where more than 3,500 institutional investors from all over the world, armed with billions of dollars, reportedly came for some look-and-see on new mining ventures. The two Philippine companies were TVI Resources, which has copper-zinc and gold projects in the two Zamboanga provinces, and Intex Resources, which has nickel interests in the two Mindoro provinces. It seems that, in the local mining scene, the companies still consider their prospects to be dim, despite the good signs that the Aquino administration, particularly the Department of Environment and Natural Resources, has shown lately. For one, the DENR Mines and Geosciences Bureau recently started to again accept applications for mineral exploration. Then the DENR allowed Philex Mining to resume copper operations in Benguet after almost seven months. The company even paid more than P1 billion in “fine” to the government for the tailings that spilled into waterways in the province. Those were definitely forward steps. Yet local mining companies still did not seem to be hot about telling the world’s biggest funders about their projects. Anyway, the CEO and president of TVI Resources, Jon Steen Petersen, announced during the company’s presentation to investors in Hong Kong, that the company would put up the first nickel refinery in the Philippines. That should only be consistent with the brand-new mining policy laid down by our leader Benigno Simeon (aka BS) in his famous Executive Order 79, which calls for an increase in value-added in our mining sector. The Aquino administration thus wants projects like the nickel refinery of TVI Resources—at least on paper.
Intex Resources Philippines Inc. 2014