BusinessWeek Mindanao (December 10-11, 2021)

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BusinessWeek M I N DA N A O CREDIBLE

Volume XII, No. 78

Market Indicators

AS OF 6:00 PM DECEMBER 9, 2021 (THURSDAY)

FOREX

PHISIX

US$1 = P50.38

7,147.30

X X Briefly

0.03

16.56

cents

points

Animal feed plant AGRICULTURAL inputs manufacturer Cargill, Inc. said it recently opened its first Mindanao plant for base mix — nutrients which are added to grains in animal feed. In a statement, Cargill said the base mix plant was inaugurated on Nov. 16. It is located beside the Cargill animal nutrition and health compound in Villanueva, Misamis Oriental, which produces swine and poultry products for the region. The plant is automated with an annual capacity of 30,000 metric tons.

Jobless rate down THE country’s unemployment rate fell to 7.4 percent in October from 8.9 percent in September as restrictions eased in most areas across the country, the Philippine Statistics Authority (PSA) reported Tuesday. The unemployment rate for October is the third-lowest for this year, only behind July data at 6.9 percent and March data at 7.1 percent. In a joint statement, Socioeconomic Planning Secretary Karl Kendrick Chua, Finance Secretary Carlos Dominguez III, and Budget and Management officer-in-charge Tina Rose Marie Canda said the unemployment numbers proved that the country is on track for “strong and early recovery.”

Climate change protocol THE Chamber of Mines of the Philippines (CoMP) adopted a climate change protocol put forward by the Towards Sustainable Mining (TSM) organization, while harmonizing its standards for managing mine tailings with global norms. “This development was approved by the TSM community of interest (CoI) advisory panel following the recommendation of CoMP’s technical working group (TWG) that was tasked to align TSM with the global industry standard on tailings management,” CoMP said in a statement Tuesday. The CoMP said TSM is a globally recognized sustainability program established in 2004 by the Mining Association of Canada that guides mining companies in managing key environmental and social risks. The global industry standard was issued in 2020 to operators of tailings facilities, aiding them in achieving zero harm to communities and the environment.

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Mining firm's drainage leak triggers flooding in Surigao Thank you for trusting us!

By ROEL CATOTO, MindaNews

S

U R I G AO C i t y – T h e drainage system of the settling pond of a largescale mining company operating in Carrascal town in Surigao del Sur overflowed causing flooding and massive siltation along the highway. Charlo Basadre, resident mine manager of CTP Construction and Mining Corporation told MindaNews the flooding occurred over the weekend. In a text message on Monday, Basadre said their drainage system overflowed due to heavy rains and flooded the highway where the drainage canals could not contain the water runoffs. But he said they immediately worked on the drainage systems in their area and in the highway. The firm has been extracting nickel, cobalt and chromite ores, among other mineral ores within a 3,564-hectare mining zone and shipping them abroad. LEAK/PAGE 7

CHRISTMAS LIGHTS. The facade of the provincial capitol building of Lanao del Norte in Tubod town glitters with Christmas lights on Monday evening, Dec. 6, 2021. Residents said the colorful lights gave them renewed hope and joy amid the pandemic. (photo courtesy of the provincial government of lanao del norte fb page)

DOLE cash grant in NorMin reaches P564-M DEPARTMENT of Labor and Employment in Northern Mindanao (DOLE-10) on Tuesday said it has so far released a total of P564 million worth of grants under the "Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced Workers” (TUPAD) program this year. In a press conference, DOLE-10 Assistant Director Estrella Pahalia sais the total amount has been distributed to 113,983 TUPAD beneficiaries, with

Lanao del Norte getting the biggest chunk amounting to P166.5 million. This was followed by Misamis Oriental with P163.9 million; Misamis Occidental with P90 million; Bukidnon - P85.8 million; Cagayan de Oro with P38 million; and Camiguin with P20.4 million. TUPAD is a communitybased package of assistance that provides emergency employment for displaced workers, underemployed GRANT/PAGE 7

Lanao Norte, MisOr light up Christmas decors as symbol of hope TUBOD, Lanao del Norte The provincial government here and Misamis Oriental have lit up their respective grand Christmas decorations as a symbol of hope amid the lowering number of coronavirus disease 2019 (Covid-19) cases, officials said Tuesday. In this province's capital town, the lighting ceremony on Monday night that radiated a colorful Christmas display at the facade of the Arsenio A.

Quibranza provincial capitol building gave hope and joy to its residents. Governor Imelda Quibranza-Dimaporo said minimum health protocols were observed during the lighting ceremony. “Despite the pandemic, we must not forget to be grateful for what we have today. We, your leaders are here to work hard and protect what we have been working for the past years of maintaining lasting peace and development here in our beloved province,” Dimaporo said in a statement. She h i g h l i g hte d t he importance of having a meaningful yet safe Christmas celebration saying, “We may

not have high Covid-19 cases, we should still stay vigilant especially that there is still the risk of contracting the new Omicron variant.” After the program, hundreds of residents, with their family and friends, flocked to the provincial capitol grounds to witness the "Paskohan sa Lanao del Norte," a symbol of hope and unity after two years of being locked down in their homes because of the Covid-19 pandemic. “Dako among pasalamat nga ubos na ang cases karon kay maka gawas nami ug maka saulog sa Pasko uban sa among mga pamilya (We DECORS/PAGE 7

Kiln at cement plant in Iligan City explodes By MINDANEWS

QUEEN SNAPPER. A fisherman in Barangay Mabua in Surigao City catches a 10.5-kilogram queen snapper. mindanews photo by roel n. catoto

ILIGAN City – A kiln at Republic Cement Corp. in Barangay Kiwalan, Iligan City exploded around 2:00 p.m. on Monday, alarming residents and passersby. The explosion created a cloud of dust over the place and carried traces of cement to the trees and houses near the plant. Netizens posted pictures and videos on Facebook

showing a huge plume of cement dust coming out from the plant housing its clinker manufacturing process. Jo Pantojoa, spokesperson of the Iligan City government said they are investigating the incident since it could pose health hazards to the 7,700 residents of Kiwalan. Pantoja said the Kiwalan barangay council and the KILN/PAGE 7

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