BusinessWeek MINDANAO THE BUSINESSMEN’S NEWSPAPER
2013 ppi’S Best in Business and Economic Reporting
Volume V, No. 60
Market Indicators
As of 6:14 pm oct. 21, 2014 (Tuesday)
FOREX
PHISIX
US$1 = P44.80
7,116.13 points
.05 cents
X X Briefly 38.09 points
Wildlife sanctuary DAVAO del Norte -- New developments will soon rise in Mount Hamiguitan Range Wildlife Sanctuary in San Isidro, Davao Oriental. This was disclosed on Sunday (October 19) by Gov. Corazon Malanyaon of Davao Oriental at Lane’s Kananan, Mati City. Gov. Malanyaon said that the provincial government prepared a P 20-million development plan around the three-hectare buffer zone of the Mount Hamiguitan Range Wildelife Sanctuary, which inscribed as a World Heritage Site. Malanyaon said that the facilities will include interpretation room required by the United Nations Educational, Scientific and Cultural Organization (UNESCO), museum devoted only for the mountain, research center, coffee shop, camp site and other basic amenities like visitor’s lounge and comfort rooms.
Free wheelchairs CAGAYAN de Oro City Councilor Dante Pajo, chairman of the committee on health and sanitation, filed a proposed ordinance requiring shopping malls in the city to provide free wheelchairs to customers or patrons who are persons with disabilities (PWDs) The councilor cites that PWDs frequent malls to buy the supplies they need. He said it is imperative that wheelchairs be provided for them inside malls. The proposed ordinance imposes fines to the management of shopping malls or shopping centers who fail to comply with its provisions: P3,000 for the first offense, P4,000 for the second offense and P5,000 without prejudice to the suspension of the business permit for a period of not less than one month for the third and subsequent offenses.
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Mindanao power rates to rise with shift in RE By CARMELITO Q. FRANCISCO Correspondent
More mining firms eye investments in Agusan del Sur
M
INDANAO may b e assured of steady power supply beginning 2015 but rates are likely to go up starting 2016 with the forthcoming increased reliance on fossil fuel, the Mindanao Development Authority (MinDA) warned.
By DAVID M. SUYAO Contributor
AGUSAN del Sur – This province’s r ich natura l resources is attracting more foreign investments. Report said a foreign investor which was already granted exploration permit has presented its plan to the Agusan del Sur Environment and Sustainable Development Council (ASESDC) signifying that if the exploration will go on smoothly, another mining firm will be established in Bunawan and Rosario areas. The company, Bunawan Mining Corporation (BMC), is 40 percent Australianowned. Also, the Adnama Mining Resource Inc. (AMRI) has sent a letter and a draft o f a Me m o r a n d u m o f Understanding to G ov. Adolph Edward Plaza offering free of charge study and actual survey of the Agusan River. This after learning that the province is undertaking a dredging and de-silting the Agusan River. BMC said the permit issued by the Mines and Geosciences Bureau (MGB) is to explore and discover the areas they have identified for gold, copper and other mineral deposits. “This present exploration permit granted to us is only good for two years, renewable every two years mining/PAGE 11
While the call for more renewable energy sources becoming stronger, the cost is likely to go higher.
More villages energized in NorMin
“Cheap rate of electricity is not automatic with sustained source of power because it will still depend on the [energy] source,” Romeo M. Montenegro, Director of MinDA’s Investment Promotions and Public Affairs Office, said. Most of Mindanao, the Philippines’ second-largest island, gets its electricity from hydropower plants, which are renewable energy facilities. Mr. Montenegro made these remarks on Tuesday, after the Mindanao grid posted a supply shortfall anew by 182 megawatts (MW) after four units with a combined output of 165 MW at the Agus complex reportedly shut down for “preventive maintenance”. Another hydro plant, the Pulangi complex, is also down to an output of 100 MW from the regular 255 MW due to low water level from the source. Based on the Web site of the National Grid Corporation of the Philippines, Mindanao had a capacity of 1,203 MW as of Tuesday with peak demand projected to reach 1,385 MW. Mindanao suffered one of its worst supply shortages in February to May this power/PAGE 11
By JASPER MARIE OBLINA-RUCAT, Contributor
IN support to the government’s Expanded Rural Electrification Program, 22 more sitios or sub-villages in Northern
Mindanao will be energized. A ceremonial switch-on was held on October 22, 2014 in Cagayan de Oro City led by power generator STEAG state power incorporated through its Fostering Rural Electrification and Energization (FREE) Project. FREE is a collaborative undertaking between STEAG, the Department of Energy (DOE), concerned recipient local government units and various electric cooperatives villages/PAGE 11
SUNSET FISHING. The setting sun lends a picturesque background to this sight of a child fishing beside the pond along the Capitol-Bonbon diversion road in Barangay Pareja in Butuan City. mindanews photo by erwin mascarinas
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