Philippines pushes to end mining lawsuits to pave way for sale
2020-10-26 14:36:03 [Print]
The Philippines is forming a government task force to resolve legal cases involving its mining assets, trying to push forward with their sale, Finance Secretary Carlos Dominguez said.
Lawsuits have hampered the government's efforts to privatize the assets, Dominguez said in a statement last Sunday. The new inter-agency team seeking to untangle the legal issues will include representatives from the finance and environment departments.
Among the mining assets under litigation include the nickel mines of Nonoc Mining and Industrial Corp. in Surigao del Norte, the copper-gold project of Maricalum Mining Corp. in Negros Occidental and the gold-copper mines of North Davao Mining. The finance department said assets of these companies were foreclosed by the government and eventually auctioned off, but the winners didn't fulfill their obligations, resulting in litigation.
Lawsuits have hampered the government's efforts to privatize the assets, Dominguez said in a statement last Sunday. The new inter-agency team seeking to untangle the legal issues will include representatives from the finance and environment departments.
Among the mining assets under litigation include the nickel mines of Nonoc Mining and Industrial Corp. in Surigao del Norte, the copper-gold project of Maricalum Mining Corp. in Negros Occidental and the gold-copper mines of North Davao Mining. The finance department said assets of these companies were foreclosed by the government and eventually auctioned off, but the winners didn't fulfill their obligations, resulting in litigation.
Copper Conc. 20%min Delivered China
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China copper concentrate producers' sales volume statistics by province by month
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