Beneath the 7,107 islands that make up the Philippines, lies one of the world's largest mineral resources. The Philippines is the second largest gold producer in the world (behind only South Africa), and contains the third largest gold deposits; they are the third largest copper producer, with the fourth largest copper deposits. The countries' mineral wealth is estimated to be somewhere between US$840billion and US$1trillion. In 1995, the Philippine government liberalized the mining industry in an attempt to attract foreign investment. The new laws allowed for 100% foreign ownership of mining projects; foreign companies are offered generous tax-holidays; and given priority access to water resources. The companies are also given easement rights ensuring the removal of all "obstacles" to mining, including farms, settlements, and indigenous communities.
 (image by Allan Lissner)
Beneath the 7,107 islands that make up the Philippines, lies one of the world's largest mineral resources. The Philippines is the second largest gold producer in the world (behind only South Africa), and contains the third largest gold deposits; they are the third largest copper producer, with the fourth largest copper deposits. The countries' mineral wealth is estimated to be somewhere between US$840billion and US$1trillion. In 1995, the Philippine government liberalized the mining industry in an attempt to attract foreign investment. The new laws allowed for 100% foreign ownership of mining projects; foreign companies are offered generous tax-holidays; and given priority access to water resources. The companies are also given easement rights ensuring the removal of all "obstacles" to mining, including farms, settlements, and indigenous communities.
©Allan Lissner
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