THE business pages say it all. Lucio Tan is into it. Manny V. Pangilinan is placing billions of pesos into the activity . Danding Cojuangco is in it, too, as San Miguel Corporation is buying big chunks of shares in companies known to be in the sector. Even the Lopezes, once enjoying a virtual monopoly in energy generation and distribution, aside from being a giant in the broadcast industry, have diversified in order to get a piece of the action. The Alcantaras, the Consunjis and the other families who made fortunes from the other natural bounties of the earth, have jumped onto the bandwagon.
We’re talking here of the mining industry and the billions of pesos being poured into it by local and foreign investors, obviously in anticipation of a boom that a more tolerant, cash-strapped government regime is expected to abet. The “boom” seems to have already started.
Witness Philex Mining Corp., the country’s biggest mining company, has shipped out more than P1 billion worth of metal resources in just one day! The shipment consisted of P624 million worth of gold, P409 million worth of copper and P10 million worth of silver.
The Chamber of Mines of the Philippines is very bullish about big-ticket mining ventures estimated to be worth $14 billion. This despite the stiff opposition from disparate groups and organizations led in some instances by militant bishops of the influential Catholic Church, some genuinely concerned environment activists and even the underground Left. Admittedly, some archaic policies need to be visited to smooth their jagged edges so that they could dovetail with the mining-friendly mindset of those who walk the corridors of power.
To be sure, the next decades will not be exactly a bed of roses for the industry. The passion of mining-haters is not expected to simmer down one bit. We can even expect it to turn violent in some extreme situations. Whatever, the government must be able to do an excellent balancing act in order not to kill the goose that lays the golden eggs, to borrow a tired cliché. The attitude of those who oppose mining, particularly those fearing excesses of irresponsible companies that lead to mining disasters, is not without basis. Companies which have been into mining operations in this country are not exactly known for their flawless exits. The situation is not being helped by government enforcers whose lack of passion for, and sincerity in, their work are just as guilty as the conscienceless owners of mining firms whose only concern is the continuous ringing in their ears of the cash register.
Therefore, responsible and sensible opposition to mining projects should be welcome. The alternative could be irreversible disaster.
