CALLAGHAN, Terry O'
Regulation and governance in the Philippines mining sector - Hong Kong : University of Hong Kong, June 2009
The Philippines is one of the most mineralised countries in the world, but the mining sector has been under-performing for decades. In 1997, President Ramos sought to revitalise the sector with a new "investor friendly" Mining Act. However, as soon as the legislation was enacted, anti-mining lobby groups challenged its legitimacy in the Supreme Court. After a number of years delay, the Supreme Court finally ruled on the constitutionality of the new Act. As a consequence of this, and of other regulatory innovations, the government has heralded a new era for mining investiment in the country. This article argues that it is premature to claim, as some industry inseders have, that the Philippines minig sector is "back in business". Significant regularory and governance problems remain. These are likely to deter foreign investors for some time to come.
Regulation and governance in the Philippines mining sector - Hong Kong : University of Hong Kong, June 2009
The Philippines is one of the most mineralised countries in the world, but the mining sector has been under-performing for decades. In 1997, President Ramos sought to revitalise the sector with a new "investor friendly" Mining Act. However, as soon as the legislation was enacted, anti-mining lobby groups challenged its legitimacy in the Supreme Court. After a number of years delay, the Supreme Court finally ruled on the constitutionality of the new Act. As a consequence of this, and of other regulatory innovations, the government has heralded a new era for mining investiment in the country. This article argues that it is premature to claim, as some industry inseders have, that the Philippines minig sector is "back in business". Significant regularory and governance problems remain. These are likely to deter foreign investors for some time to come.
