Vol. XXII, No. 200
Thursday, May 14, 2009
A BILL to make Republic Act 7942, or the Philippine Mining Act of 1995, restrictive has been filed in the House of Representatives.
Among others, House Bill No. 6342 will scrap the provision allowing 100% foreign ownership and will limit such participation in mining ventures to 40%, will ban confidentiality provisions in mining contracts, and will cut the maximum contract area to 500 hectares from 750 hectares.
Grounds for cancellation of mineral agreements will include human rights violations by the contractor, bribery and failure to initiate mining operations within two years from the award of the contract.