19 big mining projects lined up

MANILA—A total of 19 large mining projects in the Philippines are lined up with a total investment of nearly $13 billion, the Chamber of Mines of the Philippines (CMP) said.

Already this year, four mining companies got the go-ahead signal to start mining operations in the Davao region and another three are seeking approval of project plans with the Mines and Geosciences Bureau (MGB).

CMP president Benjamin Romualdez said that the growth of the mining industry in the country has contributed over $3 billion to the economy.

Direct employment from mining in the first quarter of 2010 is listed at 192,000 jobs.

The government’s 2010 Investment Priorities Plan lists mining activities, which are entitled to income tax holidays and duty-free importation of capital equipment.

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