Is It Worth It?

The mining sector’s contribution to the Philippine GDP amounts to 0.9 percent on average. It reached its peak in 2007, having contributed 1.4% of the country’s GDP. With this very low input to GDP, does our country really benefit from the mining industry? Is it worth it?

In the Investor’s Prospectus on Philippine Mining (2007) published by the Minerals Development Council, it is said that the mining process will promote sustainable development in the Philippines, highlighting major environmental and economic impacts which include higher tax revenues and a lower unemployment rate. However, when we look into reality, it’s the other way around. Mining has been a big hazard to the environment. Mine tailings have damaged many aquatic and terrestrial ecosystems. More than that, it has been detrimental to residential communities. Rehabilitation efforts have been very little as compared to damages inflicted by mining operations. Aside from these, it is clearly stated in the figures how far the actual economic contribution of the mining industry is to the projected values. For example, the Php6M annual mining tax revenue collection is very very far from the Php21B estimate.

BUT are these figures really accurate? Maybe we really do benefit from the mining industry. Maybe these figures aren’t as low as they appear to be. Maybe all we need is more transparency and accountability.

 

2012-56258

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5 thoughts on “Is It Worth It?

  1. Honestly, I believe that if mining is done responsibly, then the good outweighs the harms. I feel that if it had proper government intervention and regulation, then mining wouldn’t have affected us badly.

  2. I think that if an honest and transparent government regulated extractive industries, the costs if the hazards they bring could be properly mitigated. Perhaps also, our country’s present technology may not really be efficient when it comes to mining, and other extractive industries.

  3. In my opinion, the mining industry is just too important that we cannot completely get rid of it. There are always risks but what we just have to look for are the safer options.

  4. The way I see it, we benefit alot from the mining industry. I agree with you that there should be transparency so that it is easier to find other alternatives in mining and we can also get what we want.

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