mining projects which are set to start operating within 2013 to 2017. Dissini further revealed that Mindanao corners US$8.2 billion or 78 percent of the US$10.5 billion total copper project investments nationwide. More than half, specifically US$203 million of the US$353 million
total investments for gold projects , go to Mindanao where five mining companies are in the pipeline to start their operation within the next six years. Mindanao also gets US$2.5 billion or 51 percent of the country’s US$ 4.9 billion total investments for nickel mining projects. Citing the 2010 Mining Industry Statistics, Dissini projected the new investments in the minerals industry 34
ONE MINDANAO
Sunday, December 25, 2011
to bring along employment benefits to 1.75 million more Filipinos, in addition to the 8.5 million Filipinos who are currently benefiting directly from such industry. Answer to poverty alleviation Meanwhile, Mindanao Business Council Chairperson Vicente Lao looks at mining industry as the solution to the country’s long-been fight against poverty. During the Plan Caravan organized by the National Development Authority (NEDA) in November this year, Lao said the revenues and other earnings from the mining industry can spell great difference to the poverty situation in the country. However, the mineral resources have to be extracted from the ground to fully maximize their benefits specially to the lives of the poor. Lao envisioned the mining industry to further bring down the poverty incidence to a much lower level of 8 percent from the current 15 percent in 2016 as targeted by NEDA when the mining industry would be given the chance to fully take its course. “Are we going to deny the people the benefits of a much improved, (much) better life?,” he raised the question in the open forum during the one-day Plan Caravan which featured the Philippine Development Plan (PDP). “(The) Mining industry is not really that bad,” he added. Lao had understood the strong opposition hoisted against mining saying, “the industry is paying the sins of the past.” Citing such, Lao urged