Restoring mining sites a must in NEDA plan By Cai U. Ordinario @caiordinario
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UTURE mining projects must consider the restoration of various mining sites, according to the National Economic and Development Authority (Neda). Neda Undersecretary Rosemarie G. Edillon underscored that the Philippine Development Plan (PDP) recognizes the importance of responsible mining. Mining sites, Edillon said in a recent televised interview, should be rehabilitated and restored. This has to be ensured whenever mining projects are undertaken. “Kailangan ay mayroon talagang provision para sa restoration, kasi mag-iexplore sila magbubutas dito, butas doon,
para lang tingnan kung ano ang talagang nasa ilalim. So dapat may provision para sa mag-rehabilitate, pag-restore niyan [There must really be a provision for restoration, because they will explore and drill holes here and there just to confirm what’s underneath. So there must a provision so they will rehabilitate and restore the land],” Edillon said. Edillon said a number of examples may be found in countries like Australia and Malaysia where mining sites have been rehabilitated and restored. Mining companies in the Philippines can emulate these examples when they undertake projects in the country, she added. Edillon said environmental management is one of the most important aspects of mining in the coun-
try that needs to be considered. She gave assurances that in the future, efforts at legislation on mining will necessarily come with many consultations.
Cobalt exports
BASED on the PDP, the international sanctions placed on the export of cobalt from Russia could provide opportunities for the Philippines. Cobalt is a key input in the production of batteries. The PDP stated the Philippines and Russia have similar amounts of cobalt reserves and are among the six sources of cobalt, after Australia, Cuba, the Democratic Republic of the Congo, and Indonesia. “Although the Philippines produces nickel-cobalt mixed with sulphide, the
opportunity to add value and produce nickel sulphate (needed by lithium ion battery producers) in the Philippines has yet to be taken. Prolonged sanctions on Russian cobalt will likely increase investors’ interest in the Philippines,” the PDP stated. Per the PDP, mineral resources of the country will be used for industrial value-addition. The plan states that mineral ores are preferred to be processed domestically for downstream industries. It also stated that the Department of Trade and Industry (DTI) and the Mines and Geosciences Bureau (MGB) will also undertake programs to enhance the integration of the iron and steel industry with mining, to include increasing the supply of iron ore and coal.
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Monday, February 6, 2023
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‘MIF TO FILL IN GAP WHEN PHL AS UMIC LOSES ODA’ n
Vol. 18 No. 114
By Jasper Emmanuel Y. Arcalas
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Cutting rice imports needs time, tech –Neda exec
@jearcalas
HE proposed Maharlika Investment Fund (MIF) will allow the Philippines to expand its financing sources, especially when it becomes an uppermiddle income state, a status that restricts it from tapping “less expensive” Official Development Assistance (ODAs). Finance Secretary Benjamin E. Diokno cited this as one of the MIF’s benefits if the controversial sovereign wealth fund, now being tackled in the Senate, becomes a reality. “On the ODA, the Philippines will soon graduate to be an upper middle income country (UMIC), and as such will cease to be eligible [for] the relatively less expensive ODA which are only available to less developed countries,” Diokno explained in a statement on Sunday. “In brief, the Philippines has to develop alternative sources of financing for its priority projects as ODA financing dries up,” Diokno added. He reiterated that the MIF will widen the national government’s fiscal space, allowing it to develop more “large priority” projects at faster scale and boost investments in other key areas of the economy. “This means more resources of government might be allocated for investment in human capital (education, health and nutrition) and social protection,” he said.
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LIGHTS ON FOR CANCER DRIVE The UST’s campus landmarks, such as the Main Building and the Arch of the Centuries, were lit in blue and orange, the official color of the World Cancer Day, in support of initiatives led by the Union for International Cancer Control, which aims to prevent millions of deaths each year by raising awareness and education about cancer, and pressing governments and individuals across the world to take action against the disease. February 4 is World Cancer Day. BERNARD TESTA
BIZMAN, EX-CABINET EXEC BOBBY ONGPIN DIES AT 86 By VG Cabuag @villygc
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OBERTO “Bobby” V. Ongpin, a businessman who was one of the most colorful members of the cabinet of former President Ferdinand E. Marcos Sr., has died in his sleep in Balesin Island on Saturday night, his family announced on Sunday. He was 86 years old. The Marcos-era Minister of Trade and Industry was born on
See “MIF,” A2
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January 6, 1937, the second of seven children of Luis Ongpin and Lourdes Velayo. He was the great grandson of Roman T. Ongpin, a Filipino-Chinese businessman who aided Filipino revolutionaries against the Spanish and American colonial administration in the Philippines. In 2021, Forbes Magazine still named Ongpin as one of the top 10 richest in the country, worth about $1.2 billion. Before his
ONGPIN
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death, he was the country’s 23rd richest man, according to recent rankings of the magazine.
He is survived by his wife, Monica Arellano, his children, Stephen, Anna, Michelle, and Julian, and four grandchildren, two of whom he got to play with before he went to sleep Saturday night, according to the Facebook post of his nephew Apa Ongpin. “He never retired, and remained sharp and undiminished by age, all the way to his last day,” Apa said. See “Ongpin,” A2
EANING the Philippines off imported rice would take time and require investments in modern technologies, according to the National Economic and Development Authority (Neda). Neda Undersecretary Rosemarie G. Edillon explained that the smaller farm lands in the country require modern technology to help farmers produce more goods. This means, Edillon said in a recent TV interview, that the country needs to continue importing rice to prevent the country from experiencing any shortages caused by typhoons and similar disasters in the short-term. “Kailangan nating i-maintain pa rin na mayroon tayong agriculture sector [We must still take care of our agriculture sector], also for our own security,” Edillon said. “Especially over the short-term,” she added, “we cannot avoid importing rice for the times when we are in deficit.” Among the important considerations in boosting agriculture production and eventually exporting is the need to develop a comparative advantage, she stressed. She listed specialty rice among the products that can be exported. These kinds of rice are expensive here but are more expensive abroad, allowing Philippine exporters to earn more, she noted. This has already been considered by the government especially when it was formulating the Rice Tariffication Law, as exporting specialty rice could be a source of income for farmers. “It’s expensive here, but even more expensive outside. So, if we can boost it, there’s good potential in these kinds of rice,” Edillon said, partly in Filipino. See “Cutting,” A2
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Source: BSP (February 3, 2023)