New Wisdom Investment Limited

BHP,iron ore joint venture in Brazil is unlikely to restart this year

(Jul 03, 2017)

The Philippines’ recently-appointed environment secretary Roy Cimatu has moved to assure foreign investors that the Department of Environment and Natural Resources (DENR) will ensure responsible mining in the country.

The country’s mining sector remains uncertain after Cimatu has taken a slow and steady approach to reviewing his controversial predecessor Gina Lopez’s closure, suspension and cancellation of numerous mining operations on environmental and social grounds.

“I will go visit every mining company,” Cimatu told reporters this week. He would ensure they were all operating responsibly, he said.

Cimatu hoped to decide the fate of companies appealing Lopez’s decisions next month, Reuters reported.

Speaking at the gathering of the European Chamber of Commerce of the Philippines (ECCP) in Makati City, earlier this month, Cimatu said the DENR would continue to “strictly enforce mining and environmental regulations, and mining operations found violating laws, rules and regulations shall be subject to penalties, suspensions and/or cancellation.”

“Mining in the Philippines can only be responsible if the development of the country’s mineral resources will be on the basis of technical feasibility, environmental sustainability, cultural and social acceptability and financial viability,” he said.

“The absence of one will not render the project responsible.”

“Accordingly, operations at Samarco are unlikely to restart in CY2017,” BHP said on Friday.

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