The government and the Chamber of Mines of the Philippines (COMP) signed a joint agreement outlining reforms aimed at making the mining sector more sustainable and transparent.
The landmark declaration, a first for the Philippines, comes amid growing concerns about the environmental impact of mining and the rights of local communities.
The agreement pledges cooperation on several fronts including stricter environmental practices, community safeguards, ethical conduct and financial transparency.
Both COMP and the Department of Environment and Natural Resources agreed to promote the use of eco-friendly technologies and ensure the rehabilitation of mined areas. The agreement calls for respecting indigenous rights and enforcing transparency throughout mining operations.
The mining chamber will establish an ethics committee to oversee environmental, social, and governance performance of its members. It also commits to paying all government-mandated taxes, royalties, and fees.
For its part, the DENR will offer incentives to attract investment in mineral processing facilities. It will also streamline the process for evaluating and issuing mining permits.
A key feature of the agreement is the establishment of a joint monitoring and evaluation mechanism. This will allow both the DENR and the COMP to track the environmental and socio-economic impacts of mining activities.
